The product rolls out July 31 and is designed to function as a 'responsible alternative to a credit card,' according to executives at Piñata, a rental industry fintech company
Piñata Pay lets tenants build credit and earn rewards, while also potentially streamlining the rent collection process for landlords
Leading the round was Wilshire Lane Capital, which invests heavily in real estate and proptech initiatives. Founder and managing partner Adam Demuyakor will join Piñata's board