Mesa, the first homeowner membership platform, has officially emerged from stealth mode with the announcement of $9.2 million in seed funding. This funding includes a $7.2 million investment led by Streamlined Ventures, with participation from Starting Line, Assurant Ventures, Vera Equity, Redwood Trust Horizons, Clocktower Ventures, and other strategic investors. Additionally, Mesa secured $2 million in venture debt from Silicon Valley Bank (SVB), part of First Citizens Bank. The funding will enable Mesa to enhance its mission of making homeownership more affordable and rewarding by scaling its team, expanding membership offerings, and adding more partners to the Mesa Homeowners Network.

The current landscape of homeownership is unprecedented, with costs reaching generational highs. Homeowners are now spending over one-third of their income on housing, contributing to an astonishing $6 trillion spent annually on homeownership—more than is spent on defense, social security, and healthcare combined. This situation transcends a mere housing issue; it has evolved into a full-blown home cost crisis.

Kelley Halpin, CEO and co-founder of Mesa, articulated the driving force behind the platform: “My co-founder Peyton Hayslette and I observed how consumers receive incentives and loyalty rewards for everyday purchases like coffee, airline tickets, and hotel stays. However, there was a glaring omission—no rewards for the single largest expenditure in most people’s lives: their home. Our vision for homeowner membership is to provide value back for every dollar spent on homeownership.”

Mesa has introduced two key products aimed at transforming the homeowner experience:

1. Mesa Mortgage Marketplace: This platform offers benefits and rewards for homeowners who originate a new mortgage or refinance through participating lenders or brokers. Homeowners can earn 1% of their loan value in rewards points at closing. For instance, a $500,000 loan would yield $5,000 in rewards, creating a credit card-style membership experience for mortgage products.
2. Mesa Homeowners Card: Designed as the first premium credit card specifically for homeowners, this card rewards members for monthly mortgage payments and everyday expenses such as gas, groceries, HOA fees, utilities, and home services like insurance. Mesa Points can be redeemed at partner brands, applied toward travel bookings, or reinvested in the home as payments on the mortgage or refinancing fees. Future plans include rewarding members for home warranty plans, home equity line of credit (HELOC) originations, insurance plans, and other homeowner financial products.

Mesa is collaborating with major industry players to tackle the home cost crisis, notably partnering with Visa, a global leader in digital payments. Erin Pursell, Visa’s Vice President of New Business Development for Digital Partnerships, commented on the partnership: “Our strategic collaboration with Mesa leverages Visa’s digital payment capabilities to introduce options for homeowners that aim to alleviate the costs associated with homeownership. By facilitating an experience that includes home-oriented rewards, we are enhancing the value of homeownership. This partnership reinforces Visa’s position as an innovative leader in payment solutions, bringing us closer to our mission of empowering ‘everyone, everywhere.’”

The Mesa team boasts decades of experience from leading companies such as Uber, Bilt Rewards, Robinhood, Block, Capital One, and American Express. Key members of the executive team include:

• Shannon Cusick, Head of Partnerships, who led business development at Peloton and American Express.
• Tina Moore, General Manager of Card & Rewards, a founding team member at Bilt Rewards.
• Nadia Asoyan, CFO, who was the first finance hire at Robinhood.

With their combined expertise, the Mesa team is well-equipped to navigate the complexities of the homeownership landscape and deliver innovative solutions that can reshape the homeowner experience.

Mesa’s entry into the market comes at a critical time as homeownership costs soar, affecting millions of Americans. With a clear mission to reward homeowners and alleviate financial burdens, coupled with substantial seed funding and strategic partnerships, Mesa is poised to make a significant impact on the future of homeownership. As the company scales its offerings and expands its network, it aims to redefine what it means to own a home in today’s economy, making it a more rewarding and sustainable experience for homeowners across the nation.