Made Card wants to make homeownership pay for itself.
The New York-based startup has launched the Made Essential Visa Signature Preferred Card, a rewards card built specifically for homeowners with no annual fee.
Co-founders Ashin Shah and Christophe Van have raised over $8M in seed funding co-led by Jump Capital and Village Global, with Recharge Capital, Soma Capital, and a group of credit card and mortgage industry executives joining the round.
Through a nationwide partnership with Fairway Home Mortgage, borrowers are invited to apply during the mortgage process and link their loan. Cardholders earn rewards for good homeowner behavior, mortgage-linked points tied to on-time payments, plus rich rewards on everyday home spending.
The earn structure matches real-world bills: 3x points on gas, groceries, and utilities, 2x on home improvement, maintenance, and furniture, and 1x on everything else, with extra "mortgage matching" points that mirror your monthly mortgage payment when you spend on the card.
Points can be used to reduce closing costs on future Fairway refinances or purchases, or redeemed as cash, gift cards, or APR buy-downs on the card itself.
With U.S. homeowners sitting on record equity and mortgage rates still elevated, a card built around the home could become a sticky wedge into embedded lending and home services. Ready to get rewarded for paying for the roof over your head.
Photo: National Mortgage News / Nasdaq MarketSite
#fintechoftheday #creditcards #mortgage #USA
Subscribe for Fintech of the Day. We handpick one fintech startup every day. Please don’t miss the next one and receive emails when new content is published!