The investment fuels the booming Proptech sector, set to reach $133.05 billion by 2032. Piñata is also launching its new PiñataPay, a revolutionary debit solution.
Mountain View, CA – August 22, 2023 – BDev Ventures, a venture capital firm specializing in strategic investments in early-stage and growth technology companies, announced today an investment in Piñata, a property technology company that offers a reward and credit-building program for renters.
BDev Ventures employs a proprietary growth platform when investing in companies. This approach accelerates startup revenue growth, through lead generation and other sales funnel improvements, positioning itself as a operational partner beyond passive capital infusion.
“We see tremendous potential in Piñata and the fintech industry,” said Matt Wilson, co-founder and managing partner at BDev Ventures. “We are committed to empowering tech startups. Through strategic investments and collaborative partnerships, we aim to accelerate the transformation of new businesses, providing the support they need to succeed.”
Concurrent with this partnership, Piñata launched PiñataPay. The platform now offers renters access to a dedicated bank account and a Visa debit card linked to their account, simplifying reward spending and credit history building. This move marks Piñata’s entry into the fintech market, projected to reach $1.5 trillion in annual revenue by 2030.
Lily Liu, CEO of Pinata, adds, “We’re absolutely thrilled to have BDev Ventures as one of our newest investors. Their wealth of experience and expertise couldn’t have come at a better time as we navigate the exciting path of our business expansion. Our commitment to enhancing the renter experience, from rewards to credit reporting, and the innovative PinataPay Visa card, is stronger than ever.”
In 2023, BDev Ventures is actively deploying capital to support the growth of startups. The company focuses on early-stage and growth B2B software startups that have achieved product-market fit and have a strategic focus on the US or Latin American markets.
About Piñata
Piñata is the nation’s leading renter payment, reward, and credit-building platform. Leveraging AI, Piñata streamlines and enriches the renter journey, offering a suite of value-add tools and services that benefit both landlords and tenants. The company’s free app currently has a 4.6 rating on the Apple iOS store. For more information, visit www.pinata.ai.
