visimoney
Bilt Rewards, a company that focuses on loyalty rewards for rent and neighborhood expenses, has raised $200 million in equity funding, led by General Catalyst. Other investors in the round included Eldridge, Left Lane Capital, Camber Creek, and Prosus Ventures. The funding round has raised Bilt’s valuation to $3.1 billion. Bilt Rewards is a platform that allows consumers to accumulate rewards on their rent payments and has seen significant growth due to partnerships with major real estate firms and the establishment of the Bilt Rewards Alliance. The new funding will be used to expand the Bilt Rewards Alliance and enhance its Neighborhood Rewards program. The company also plans to diversify into the mortgage payment rewards sector.
Key takeaways:
- Bilt Rewards has raised $200 million in equity funding, led by General Catalyst, bringing its valuation to $3.1 billion.
- The company’s platform allows consumers to accumulate rewards on their rent payments and has seen rapid growth due to partnerships with major real estate firms.
- The funding will be used to expand the Bilt Rewards Alliance and enhance its Neighborhood Rewards program.
- Bilt Rewards also plans to enter the mortgage payment rewards sector.
