Homeowner membership platform Mesa announced it exited stealth with $9.2 million in seed funding. This $7.2 million seed funding was led by Streamlined Ventures with Starting Line, Assurant Ventures, Vera Equity, Redwood Trust Horizons, Clocktower Ventures, and several other firms and strategic investors participating. Mesa also received an additional $2 million in venture debt from Silicon Valley Bank (SVB), a division of First Citizens Bank.
This funding round will support Mesa’s mission to make homeownership more affordable and rewarding, allowing us to scale our team, expand membership offerings, and add more partners to the Mesa Homeowners Network.
Homeownership is the most expensive it’s been in a generation with consumers spending over one third of their income on their home. Americans spend over $6 trillion annually on homeownership — more than defense, social security, and healthcare combined.
Mesa’s first products are the Mesa Mortgage Marketplace and the Mesa Homeowners Card:
1.) The Mesa Mortgage Marketplace offers benefits and rewards for originating a new mortgage or refinancing through a lender or broker advertising on Mesa’s marketplace. Homeowners get access to benefits, plus 1% of their loan value in rewards points at closing. For example, that’s $5,000 of value on a $500,000 loan. This creates a new credit card style membership experience for a mortgage product.
2.) The Mesa Homeowners Card is the first premium credit card designed specifically for homeowners. Cardmembers are rewarded on monthly mortgage payments and everyday spending like gas, groceries, HOA fees, utilities, repairs, and home goods and services, like insurance.
Mesa Points can be redeemed with partner brands and used to book travel, or reinvested back into your home as payments toward your mortgage balance or applying Mesa points toward refinancing fees. And in the future, the company plans to reward members on home warranty plans, HELOC originations, insurance plans, and other financial products for homeowners.
Mesa has brought some of the largest and most innovative companies in the world to help solve the home cost crisis, including strategic partner Visa.
Mesa’s team brings decades of experience from companies such as Uber, Bilt Rewards, Robinhood, Block, Capital One, and American Express. And Mesa’s Executive team includes Shannon Cusick, our Head of Partnerships who led business development at Peloton and American Express; Tina Moore, our GM of Card & Rewards who was on the founding team at Bilt Rewards; and our CFO, Nadia Asoyan, the first finance hire at Robinhood.
KEY QUOTES:
“My co-founder Peyton Hayslette and I saw how consumers receive incentives and loyalty rewards for everyday purchases like coffee, airline tickets, and hotel stays. But the one thing you spend the most on – your home and all that comes with it? No one rewards that spend. Our vision for homeowner membership is to give you value back for every dollar you spend on your home.”
-Kelley Halpin, CEO and co-founder at Mesa
“Our strategic partnership with Mesa leverages Visa’s digital payment capabilities to introduce options for homeowners that aim to help relieve the costs of home ownership. We are facilitating an experience that includes home-oriented rewards, enhancing the value of homeownership. Our collaboration with Mesa further underscores Visa’s position as an innovative leader in payment solutions and brings us closer to our mission of empowering ‘everyone, everywhere’.”
-Visa Vice President of New Business Development for Digital Partnerships Erin Pursell
