Mesa, an Austin-based homeowner membership platform, has officially launched, raising $9.2 million in seed funding to address what its founders call a “home cost crisis.”

The $7.2 million seed round was led by Streamlined Ventures with participation from Starting Line, Assurant Ventures, Vera Equity, Redwood Trust Horizons, and Clocktower Ventures, among others. Mesa also secured an additional $2 million in venture debt from Silicon Valley Bank (SVB), a division of First Citizens Bank. The funding will help the company scale its team, expand membership offerings, and add new partners to its Mesa Homeowners Network.

With Americans spending more than $6 trillion annually on homeownership, the costs associated with owning a home are at an all-time high, eating up over a third of household incomes. Co-founders Kelley Halpin and Peyton Hayslette saw an opportunity to provide value back to homeowners, similar to the loyalty rewards available for everyday purchases like coffee, airline tickets, and hotel stays.

“Our vision for homeowner membership is to give you value back for every dollar you spend on your home,” said Halpin, CEO of Mesa. “Consumers get rewards for almost everything they purchase, but when it comes to the biggest expense—your home—there’s no incentive. Mesa changes that.”

Innovative Products for Homeowners

Mesa’s first offerings, the Mesa Mortgage Marketplace and Mesa Homeowners Card are designed to provide rewards and benefits specifically for homeowners:

  • The Mesa Mortgage Marketplace: Homeowners can earn 1% of their loan value in rewards points when they originate or refinance a mortgage through Mesa’s marketplace. This equates to $5,000 in rewards on a $500,000 loan. Mesa’s marketplace introduces a new mortgage membership experience similar to a credit card rewards system.
  • The Mesa Homeowners Card: This premium credit card rewards homeowners for everyday expenses like monthly mortgage payments, utilities, groceries, repairs, and home goods. Mesa Points can be redeemed at partner brands for travel bookings or reinvested in the home through mortgage payments or refinancing fees.

Looking ahead, Mesa plans to expand its rewards program to include home warranty plans, HELOC originations, insurance products, and more, creating a comprehensive rewards ecosystem for homeowners.

Strategic Partnerships and Industry Leadership

Mesa has teamed up with Visa as a strategic partner, leveraging Visa’s digital payment capabilities to enhance the value of homeownership through rewards. Erin Pursell, Vice President of New Business Development at Visa, expressed excitement about the collaboration: “Our partnership with Mesa brings new solutions to homeowners, aligning with Visa’s mission to empower everyone, everywhere, and helping relieve the financial pressures of homeownership.”

Mesa’s executive team includes fintech veterans from Uber, Robinhood, Bilt Rewards, Block, and American Express. Notable team members include Shannon Cusick, Head of Partnerships, who led business development at Peloton and Amex, and CFO Nadia Asoyan, Robinhood’s first finance hire.

By redefining homeownership through rewards, Mesa is positioned to become a key player in making the most significant financial commitment in many people’s lives more manageable and rewarding.