Bilt raised $250 million in new funding, boosting its whole raised to $813 million and reaching a $10.75 billion valuation.
The corporate is increasing its rewards program to cowl extra housing classes like condos, HOAs, pupil housing, and even mortgage funds by means of a partnership with new investor United Wholesale Mortgage.
Bilt can be creating new bank card choices, together with a no-fee card and two premium tiers.
Loyalty platform Bilt obtained $250 million in new funding this week. The funding, which was led by Common Catalyst and GID with extra funds coming from United Wholesale Mortgage, boosts the New York-based firm’s whole raised to $813 million.
Bilt was based in 2021 to supply a loyalty rewards program and bank card that permits renters to earn factors once they pay their lease, constructing credit score with each fee. With no annual charge, the Bilt Mastercard bank card additionally permits cardholders to earn factors on choose eating experiences, rideshare purchases, and journey purchases. These factors could be redeemed for journey, health lessons, residence decor, and even a down fee on a future residence.
With in the present day’s spherical, Bilt can be revealing its new valuation of $10.75 billion, representing greater than a 3x improve in a single yr. This new valuation displays Bilt’s progress. The corporate anticipates it’ll surpass $1 billion in income by the primary quarter of 2026 and can course of over $100 billion yearly in housing spend within the subsequent six months. Moreover, the corporate’s community of properties has signed one in 4 US condo buildings, partnering with 70% of the highest 100 property managers. It has additionally added over 40,000 retailers throughout the US to its rewards community.
The corporate has expanded its community of service provider partnerships to make cardholders’ neighborhoods really feel like their very own members membership. “Bilt represents the convergence of America’s largest spending classes—housing and native commerce—right into a single, highly effective community that advantages everybody concerned,” mentioned Bilt Chairman Ken Chenault. “What we’re constructing goes past the 4 partitions of your condo; we’re connecting you along with your complete neighborhood and making each facet of the place you reside extra rewarding.”
Bilt is utilizing the $250 million funding to develop the variety of housing classes it is ready to reward. The corporate is increasing into condominium and HOA funds, pupil housing, and has additionally partnered with mortgage servicers–together with in the present day’s investor United Wholesale Mortgage–to develop into mortgage funds.
The corporate can be engaged on Bilt Card 2.0 in partnership with embedded bank card platform Cardless to supply a brand new, no-fee card possibility and two premium playing cards that includes $95 and $495 annual charges. Bilt didn’t provide extra particulars of the brand new card choices, however teased the launch date of February 2026.
Picture by Tom Fisk
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