Bilt Rewards, a leading loyalty platform focused on rent and neighborhood rewards, has recently announced securing a significant $200 million equity investment in its latest funding round. The round was led by General Catalyst, with notable contributions from Eldridge, Left Lane Capital, Camber Creek and Prosus Ventures. This substantial investment values Bilt Rewards at an impressive $3.1 billion.
The platform offers consumers the opportunity to earn rewards for their rent payments and has now expanded its offerings to include the Neighborhood Rewards program which incentivizes members for supporting local businesses in their community through spending. With this new injection of funds, Bilt plans to further expand its successful Bilt Rewards Alliance as well as enhance the already popular Neighborhood Rewards program.
Ken Chenault will be joining Bilt as Chairman of the Board following his role as chairman and managing director at General Catalyst while Roger Goodell – commissioner of NFL – will serve on the board independently. In light of this exciting news Ken Chenault stated: “Rental and mortgage payments typically consume 30% of household income in America alone; however with our innovative approach we are transforming this market by empowering renters and homeowners alike through rewarding them for not only their monthly payments but also everyday spend within local merchants.”
