BILT has raised $30.0M in total across 2 funding rounds.
BILT's investors include Alumni Ventures, American Express Ventures, Angular Ventures, Kleiner Perkins, LiveOak Venture Partners, Lockheed Martin Ventures, Silverton Partners.
Bilt Rewards is a fintech company that operates a payments and rewards network enabling renters to earn points on rent payments without transaction fees, while building credit history, and redeem those points across local merchants, travel, fitness, and home-related purchases.[1][2][5][6] It serves renters, property managers (partnering with 70% of the top 100 U.S. managers and one in four apartment buildings), and a growing merchant network of over 40,000 locations, solving the problem of "dead money" rent by turning it into a loyalty program that fosters credit building, neighborhood engagement, and paths to homeownership.[1][2][3][5] Bilt's growth is explosive: founded in 2021, it hit $200 million annualized revenue and profitability by early 2023, projects over $1 billion in revenue by Q1 2026, and processes $100 billion+ in annual housing spend, fueled by a $250 million raise in 2025 at a $10.75 billion valuation (total funding $813 million).[1][2][4][5]
Bilt Rewards was founded in 2019 by serial entrepreneur Ankur Jain, who serves as CEO, with the company officially launching its platform in 2021 from New York City headquarters.[1][5] Jain identified a massive gap in the $500 billion+ U.S. rental market, where renters lose out on rewards and credit-building opportunities despite rent being their largest expense; this idea emerged from his prior experience in consumer tech and fintech.[1][5] Early traction came swiftly: by March 2022 public launch, Bilt reached profitability and $200 million annualized revenue, bolstered by a $150 million Series B in 2022 led by Left Lane Capital (with Wells Fargo, Greystar, and others).[1][2][4][5] Pivotal moments include Ken Chenault (ex-American Express CEO) joining the board post-$200 million raise, expansion to 2.5 million+ apartment units by late 2022, and recent 2025 milestones like acquiring Banyan for receipt data tech, partnering with student housing giant American Campus Communities, and shifting card issuance to Cardless amid Wells Fargo's early exit.[2][3][5]
Bilt stands out in the rewards and fintech space through its integrated home-and-neighborhood ecosystem, blending rent payments with local commerce in ways competitors like traditional credit cards cannot:
Bilt rides the fintech-meets-proptech wave, capitalizing on America's renter boom (40%+ of households, $500B+ market) amid housing shortages, rising costs, and demand for "super apps" that layer loyalty atop everyday spend.[1][2][5] Timing is ideal post-pandemic, with remote work fueling urban/suburban mobility and proptech maturation (e.g., partnerships with top managers like Greystar); market forces like inflation and credit access barriers amplify its value, as renters seek alternatives to fee-heavy cards.[1][2][4] Bilt influences the ecosystem by onboarding 70% of top property managers, expanding rewards to mortgages/student housing/HOAs (via United Wholesale Mortgage), and normalizing rent as a credit/rewards asset—pushing incumbents like Wells Fargo to adapt (despite their $10M/month losses leading to early exit).[2][5] This convergence of housing (largest U.S. spend category) and local commerce creates network effects, democratizing wealth-building for renters and efficiency for landlords/merchants.[1][2]
Bilt's trajectory points to unicorn dominance turning decacorn, with $10.75B valuation in 2025 signaling hypergrowth toward $1B+ revenue by Q1 2026 and expanded categories like mortgages/full homeownership tools.[2][5] Key trends shaping it: AI-driven personalization (building on Decagon/Banyan), proptech consolidation, and "embedded finance" in housing amid regulatory tailwinds for rent reporting; expect Bilt 2.0 card launch with Cardless to stabilize issuing amid bank volatility.[3][5] Influence will evolve from renter niche to full "life rewards" platform, potentially acquiring more data/commerce plays and listing publicly—cementing its role as the network turning housing from cost to asset, much like how it already transformed "dead money" rent into neighborhood empowerment.[1][2][6]
BILT has raised $30.0M across 2 funding rounds. Most recently, it raised $21.0M Series B in December 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2024 | $21.0M Series B | Alumni Ventures, American Express Ventures, Angular Ventures, Kleiner Perkins, LiveOak Venture Partners, Lockheed Martin Ventures, Silverton Partners | |
| Jul 1, 2021 | $9.0M Venture Round | LiveOak Venture Partners, Silverton Partners |
