Bilt Rewards, a loyalty platform specializing in rent and neighborhood rewards, has raised $200 million in an equity investment led by General Catalyst. This investment values the company at $3.1 billion. Bilt also added NFL Commissioner Roger Goodell and former American Express CEO Ken Chenault to its board.
The company, launched in 2022, allows consumers to earn rewards on their rent payments at any residential rental property in the U.S. The platform has grown significantly through the Bilt Rewards Alliance, a partnership with major residential real estate companies including Greystar, AvalonBay and Brookfield, that encompasses nearly 4 million households.
Bilt has also expanded through its Neighborhood Rewards program, which offers members rewards for local spending on dining, rideshare services and grocery purchases.
The funding will support the expansion of the Bilt Rewards Alliance into the multifamily, single-family and student housing sectors. The company will also expand the Neighborhood Rewards program and invest in offering mortgage payment rewards.
