Fintech One•On•One Lily Liu, CEO of Piñata, on creating a credit building and rewards program for renters
When it comes to paying for a place to live, the economic benefits have always skewed towards homeowners, with renters getting no credit for all their on-time rent payments. But that is changing today. Piñata is helping millions of renters across America build their credit score and earn rewards with their rent payments.
In this episode, CEO and Co-Founder Lily Liu reveals how her company is transforming rent payments into a powerful credit-building tool by reporting on-time payments to all three credit bureaus, while renters earn tangible rewards at everyday brands. Born during the chaos of the pandemic, Piñata has evolved from a two-sided marketplace into a fintech powerhouse now partnering with giants like Freddie Mac to make credit building a standard benefit for renters nationwide. Lily shares the strategic pivots, the regulatory complexities of consumer credit reporting, and why solving this problem required rethinking rent as more than just an expense.
In this podcast you will learn:
- The founding story of Piñata.
- Why launching the company at the height of the pandemic was good timing.
- How they were able to get landlords on board.
- Why they use a carrot, rather than a stick, to encourage renters to pay on time.
- How the Piñata rewards program works for renters.
- The two different ways renters can join Piñata.
- The average increase in credit score for a typical Piñata customer.
- How Piñata is very different to Bilt.
- How they differentiate themselves from others in the credit building space.
- The demographic that is most attracted to Piñata.
- What their partnership with Freddie Mac means.
- Why some renters are opting out of the home ownership dream.
- How Piñata Pay, launching in 2026, will work.
- How they are going to scale Piñata so the majority of people can get credit for rent payments.
- Lily’s vision for the future of Piñata.
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