Tue. Jun 25th, 2024

TL;DR: Bilt Rewards, a platform that allows consumers to earn rewards on their rental payments, has raised $200m in a funding round led by General Catalyst. The investment pushes Bilt’s valuation to $3.1bn and will be used to expand the Bilt Rewards Alliance, which includes residential real estate firms and has committed to adopting the Bilt platform.

The funding will also be used to enhance Bilt’s Neighborhood Rewards program, which aims to strengthen ties between merchants and the community. Bilt is also planning to expand into the mortgage payment rewards sector. Ankur Jain, CEO of Bilt Rewards, said the funding and addition of industry figures to the board were a testament to the company’s vision of creating a community-centric ecosystem.