EasyKnock Announces Partnership With Piñata
24 Abril 2024 - 9:05AM
Business Wire
Partnership Rewards Rentership, Ensures Broader
Access to Credit Building Programs for American Renters
EasyKnock, the first home equity solution platform, has forged a
partnership with Piñata, the nation's most popular reward and
credit building platform for renters. Through this partnership,
American renters, and specifically EasyKnock customers, are both
rewarded and provided a path to credit worthiness.
EasyKnock gives homeowners a way to convert the trapped equity
in their homes into cash and remain in their homes as renters.
EasyKnock customers also retain an option to repurchase their homes
or direct a second sale for additional cash in the future.
In its first few months in-market, EasyKnock tenants using
Piñata have seen their credit score improve by an average of 57
points.* EasyKnock automatically reports Piñata users’ on-time rent
payments to the bureaus (late rent payments are not reported),
enabling them to build credit each month with TransUnion, Equifax,
and Experian. It is estimated that under five percent of roughly 80
million American renters get credit for their rent payments.**
Renters using Piñata also receive discounts and cash back on
everyday expenses, rewards for on-time rent payments, access to
renters insurance, plus, thousands of dollars in monthly
giveaways.
Customers are given access to a platform to track their point
balance, redeem for rewards, review their credit score and months
of on-time rent reported to the bureaus, and they can earn points
for participating in credit education and surveys.
On top of the long-term financial health benefits, EasyKnock
customers have also been spending their points on items and
experiences that reduce their everyday expenses. Popular rewards
include charitable contributions, self-care items, and home
goods.
“The benefits and rewards provided by Piñata are game-changing
for American renters,” said Jarred Kessler, CEO and founder of
EasyKnock. “Partnering with them ensures that our sale-leaseback
customers can now improve their financial well-being while earning
rewards. It also ensures renters are celebrated and supported in
ways that are long-overdue.”
“By teaming up with EasyKnock, we can help even more renters in
their quest to improve their financial standing,” said Lily Liu,
CEO of Piñata. “In joining EasyKnock on the mission to create more
financial flexibility for American families, we can help them reach
their goals and ultimately, improve the quality of their lives.
”
*EasyKnock customers who signed up for Piñata saw a credit score
improvement of 57 points. This data was measured from November 2023
to March 2024.
** According to The New York Times, Jan 2024
About EasyKnock
EasyKnock is the first-to-market, home equity solutions platform
company in the U.S. In 2023, EasyKnock announced the development of
its platform, an extensive suite of products and services that will
provide consumers alternative ways to buy and sell, finance new
homes, and utilize their equity. Headquartered in New York City and
founded in 2016, EasyKnock helps U.S. homeowners unlock their
financial freedom through non-loan programs. For more information,
please visit www.easyknock.com.
About Piñata:
Piñata is the nation’s largest rental membership program on a
mission to make renting smarter and more rewarding for tenants and
landlords alike. The company, founded in 2020 and led by women of
color, offers renters a unique set of financial benefits, including
monthly rental rewards and credit-score-boosting opportunities,
while also providing a unique amenity for landlords. Piñata has
raised $20 million to date from leading Proptech investors led by
Wilshire Lane Capital.
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Media: EasyKnock press@EasyKnock.com Piñata
contact@pinata.ai