Silk Pay: The loyalty and payment program for tenants and property owners
Silk was born with a clear vision: to transform renting, traditionally seen as a mere expense, into an opportunity to create value for both tenants and property owners. Through its payment gateway, the platform automates collections and connects them directly to an innovative loyalty program. Every time a tenant pays rent on time or shops within the network of partner brands, they earn points redeemable for rent discounts or gift cards. In this interview, Miguel Linera, CEO and co-founder of Silk, talks about the company’s origins, the projects currently in development, and the future.
When and why was Silk created, and who is behind this project?
Silk originally emerged with the idea of revolutionizing loyalty in the real estate sector. When we started, we saw an opportunity to turn renting—traditionally just an expense—into a starting point for generating value for both tenants and property owners. However, we soon realized that the opportunity was much broader if we could modernize the payment infrastructure in the real estate industry.
That’s how Silk Pay was born—our payment gateway specialized in managing financial transactions in the sector, automating collections and linking them directly to our loyalty program. Silk was founded by Ignacio Suárez, Alfonso Chaparro, and me, after working together at Arextech.
Before Silk, you led Arextech, a startup acquired by Architrave. How did that experience influence Silk’s development?
Arextech was an enterprise software company designed to simplify complex processes related to real estate asset marketing and management. Working in that environment allowed us to deeply understand our clients’ operations and find ways to translate those complexities into clear and functional technological solutions.
Today, thanks to what we learned, we plan more efficiently, optimize our efforts, and ensure that every feature we add to Silk has a tangible long-term impact. We focus on delivering clear value that aligns with the expectations of those who trust our solution. Without the experience gained at Arextech, we wouldn’t be able to move with the speed and precision we have now.
“Silk Pay is designed specifically for the real estate sector, where money flows are recurring, more complex, and involve significantly higher amounts.”
The platform offers a unique loyalty program that allows tenants to earn points for paying rent and making everyday purchases. How does this system work, and what impact does it have on users?
Every time tenants pay their rent on time or make purchases through our network of partner brands—which includes over 150 partners such as Iberia, Adidas, Lidl, Decathlon, and others—they earn points that can be redeemed for rent discounts or gift cards. This not only encourages timely payments but also turns renting into more than just a monthly obligation, creating a positive impact on both users’ financial well-being and the financial management of property owners and managers.
Besides tenant benefits, the platform simplifies payment collection for property owners. What specific incentives does Silk offer to attract more property owners to its network?
Unlike payment gateways designed for e-commerce, optimized for quick, one-time transactions, Silk Pay is specifically designed for the real estate sector, where money flows are recurring, more complex, and involve significantly larger amounts. In the rental market, payments are not just simple transactions—they often require manual reconciliations, issue resolution, and more detailed tracking, which e-commerce tools are not equipped to handle.
Many real estate companies have tried to adapt e-commerce payment gateways to their operations, but these solutions lack critical functionalities such as automation of recurring payment tracking, integration with real estate management systems, and the ability to efficiently resolve discrepancies. This mismatch creates inefficiencies and frustration for both property owners and tenants, failing to improve the current state of payments via bank transfers and direct debits, which already cause numerous problems.
Silk Pay, on the other hand, has been developed to address these specific needs. It allows property owners to initiate payments, automates reconciliation, facilitates tracking of recurring payments, and seamlessly integrates with our loyalty program. This enables property owners to offer a loyalty plan to their tenants, encouraging timely payments and allowing tenants to save money month after month through their purchases.
A proprietary banking card to facilitate rent payments is Silk’s next project. What features will this card have, and how will it improve the user experience?
Silk’s proprietary banking card is designed as a strategic evolution of our platform, although its launch is not planned until 2026. This card will allow tenants to set up their rent payments through Silk Pay, automatically earning points with each payment. Additionally, it will complement the current program, where users already earn points for online purchases, by also enabling them to accumulate points with any in-store purchase.
Although still in the planning phase, the goal is for this card to serve as a bridge between recurring payments and tenants’ daily finances, maximizing the benefits of belonging to the Silk ecosystem. We want every expense—whether rent, groceries, or coffee—to become an opportunity to save and access rewards. This reinforces our vision of building a comprehensive solution that not only simplifies rent management but also enhances users’ overall financial experience.
You recently closed a €770,000 funding round backed by SOCIMI Ktesios, Grupo ENLACE, and Grupo Hive. How do you plan to invest this capital?
We are primarily investing in strengthening Silk Pay, the core of our platform, improving the product to make it increasingly intuitive, easy to integrate, and efficient. Currently, we are focusing on optimizing processes such as automation, payment management, and reconciliation, ensuring that each feature provides real value.
We are also expanding the loyalty program by increasing the number of partner brands and offering more exclusive benefits to users, maximizing the value of every transaction—whether rent payments or daily purchases.
Regarding international expansion, we are conducting pilot programs in Germany and the UK to lay the groundwork for faster scaling.
“We choose strategic partners who complement our users’ daily lives and provide tangible benefits that truly add value.”
The company has also signed agreements with over 100 brands, including Miravia, Nike, and JustEat. What criteria do you use to choose partners, and what specific advantages do these alliances offer Silk users?
We select strategic partners who complement our users’ daily lives and provide tangible benefits that genuinely add value. We focus on brands relevant to everyday spending, such as supermarkets, fashion, delivery services, and essential utilities, ensuring that users can earn points for purchases they would make anyway.
Additionally, these partnerships strengthen the connection between Silk Pay, rent payments, and the loyalty program, allowing users to maximize their rewards with every expense and use their points to reduce their rent. This creates a seamless experience that integrates financial and consumer needs.
With more than 40,000 tenants already in the network, what are your plans for scaling in Spain and other European countries? Which markets are a priority and why?
Our immediate priority is to consolidate Silk Pay in Spain, working closely with our investors, who are already beginning to integrate Silk as their solution for managing rent payments. We have also established strategic collaborations with rental management software companies, which helps us accelerate product distribution and adoption on a larger scale.
Regarding priority markets, we are developing pilot programs in Germany and the UK, two countries with a high percentage of rental housing and a clear lack of payment solutions designed specifically for the real estate sector. These markets present a great opportunity for us to establish ourselves as the standard for modernizing payments, offering a unique combination of automation and loyalty rewards.
How do you view the rental market in Spain and Europe today? How can Silk help change perceptions of renting?
The rental market in Spain and Europe faces significant challenges, the most evident being the lack of available housing. This will not be resolved without changes in public policies that allow for more housing construction in areas where demand far exceeds supply, either by increasing density with high-rise buildings or expanding urbanized areas.
While we cannot directly influence housing availability, we believe we can make the rental process simpler and fairer for tenants. Something as basic as being able to pay rent using your preferred method should not be a luxury. It’s absurd that you can pay €1 for a coffee with a card but not your rent when it represents, on average, more than 30% of Europeans’ income.
Additionally, we believe we can help change the perception that renting is “throwing money away.” While Silk won’t lower rent prices in Spain, it will allow tenants to get money back from payments that previously offered no benefits.