Bilt Rewards, a NYC-based loyalty program for the home and neighborhood, raised an additional $150m in funding.
The round was led by Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan, with participation from existing investors and new endowments including Vanderbilt University Endowment and the University of Illinois Foundation. This latest round comes just months after Bilt’s $200m raise in January, which valued the company at $3.1 billion.
The company will be using the new capital to further expand its neighborhood loyalty program with merchants across the country.
Led by Ankur Jain, CEO, Bilt Rewards is a program for consumers to earn rewards on rent and daily neighborhood spend. Through a partnership with the country’s largest owners and operators including Greystar, Asset Living, AvalonBay, Equity Residential, Related Companies, GID, Starwood, Cushman & Wakefield, Bozzuto, Camden, Brookfield, Berkshire Residential, ZRS, Highmark, Beztak, Trammell Crow, PGIM and more, Bilt Rewards enables renters in more than four million units across the country to earn Bilt Points just by paying rent, while these owners benefit from increased resident loyalty and cost savings.
The company is expanding to single-family homes and condominiums, with plans to include mortgage payments later this year.
FinSMEs
03/08/2024