This Bilt Rewards company profile covers the company's valuation, revenue, funding rounds, investors and history. Bilt Rewards works in fintech, with a focus on housing loyalty and payments. It was founded in 2019 and is headquartered in New York, New York, United States. Its latest valuation on record is About US$10.8 billion (July 2025). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Jul 2025 | Equity round | US$250M | About US$10.8B | General Catalyst and GID (leads); United Wholesale Mortgage | Bloomberg Law |
| Jan 2024 | Equity round | US$200M | About US$3.1B | General Catalyst (lead) | Fintech Futures |
Bilt Rewards timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2019 — Bilt Rewards is founded in New York by Ankur Jain (CEO).
- Jan 2024 — Equity round: US$200M, valuing the company at About US$3.1B. Investors: General Catalyst (lead).
- Jul 2025 — Equity round: US$250M, valuing the company at About US$10.8B. Investors: General Catalyst and GID (leads); United Wholesale Mortgage.
Investors
Overview
Bilt Rewards is a loyalty programme built around housing. Renters earn points when they pay rent, and can spend those points on travel, fitness classes, home décor, a future down payment and more. Bilt also gives members points and perks at partner restaurants, pharmacies and fitness studios in their neighbourhoods, turning the rent payment, usually a household's biggest monthly expense, into the centre of a broader rewards relationship. Its co-branded credit card lets renters pay rent without the processing fee that landlords normally charge for card payments, a feature that made it popular with frequent travellers.
Ankur Jain founded Bilt in New York in 2019 and launched the programme in 2021. Jain previously founded Kairos, a company focused on improving life for young people, and Humin, a contacts app acquired by Tinder. Bilt's insight was that renters had no reward for their largest expense and landlords had little way to build loyalty with residents. By partnering with the largest US property owners, Bilt built a network covering millions of rental homes.
How Bilt works
- For renters: members link their rent payment to Bilt and earn points, whether they pay with the Bilt card or, in some cases, by bank transfer. Points can be transferred to airline and hotel loyalty programmes or used for other rewards.
- For landlords: property owners in the Bilt Alliance offer the programme to residents. Bilt aims to help them with retention, amenities and resident engagement.
- Neighbourhood network: restaurants, fitness studios, pharmacies and other local businesses pay to attract Bilt members, who earn extra points for visiting.
- Homeownership: Bilt has added tools to help members save towards a home and, increasingly, to earn points on mortgage payments.
How Bilt makes money
Bilt earns revenue from several sources. Merchants and partners pay for access to members and for marketing. Property owners pay for services. Card issuance generates interchange revenue, the fees merchants pay when cards are used, which is shared between the card issuer, Bilt and others. Loyalty partners such as airlines and hotels have commercial relationships with Bilt. The company doesn't publish revenue, so we show it as not disclosed.
The card programme
The Bilt Mastercard, originally issued by Wells Fargo, became known for letting cardholders pay rent with no transaction fee while earning points. That feature was costly for the issuer, because rent payments generate little interchange revenue and Bilt's points are valuable. Reports in 2025 said the arrangement had been unprofitable for the bank, and Bilt announced plans to move its card to a new issuing partner with a redesigned product. Changes to card economics are a key risk and opportunity for Bilt, because the card is central to its member experience.
Funding
Bilt raised a US$200 million round in January 2024, led by General Catalyst, at about US$3.1 billion. In July 2025 it raised US$250 million at about US$10.8 billion, led by General Catalyst and real estate investor GID, with United Wholesale Mortgage participating, more than tripling its valuation, according to Bloomberg. The investment from a mortgage lender reflected Bilt's push to extend rewards from renting into homeownership. Earlier backers include Blackstone, Left Lane Capital, Eldridge and Camber Creek.
Competition
Bilt competes with other rent payment and rewards platforms, credit card rewards programmes from major banks, property technology companies offering resident apps, and buy-now-pay-later and fintech apps that target young adults. Its main advantage is the network of large landlords that have adopted its programme, which is hard for competitors to replicate quickly.
Bilt Rewards at a glance
Bilt Rewards is a New York housing loyalty company founded in 2019 by Ankur Jain. Renters earn points on rent payments and spend them on travel and other rewards, while landlords and local merchants use Bilt to engage residents. It raised US$200 million at about US$3.1 billion in January 2024 and US$250 million at about US$10.8 billion in July 2025, led by General Catalyst and GID.
Why housing is a powerful loyalty anchor
Most loyalty programmes are tied to occasional purchases, such as flights or hotel stays. Rent and mortgage payments happen every month, are large and are predictable. A programme built around housing touches a member's finances more often and more deeply than almost any other. It also gives Bilt data about where members live, which helps local merchants reach nearby customers. If Bilt successfully moves into mortgages, it could follow members through their whole housing journey, from first apartment to home purchase, creating a long relationship that banks and other loyalty programmes struggle to match.
Credit building for renters
Bilt reports rent payments to credit bureaus for members who opt in, which can help renters build a credit history. On-time rent payments have traditionally not counted towards credit scores in the way mortgage payments do, disadvantaging renters, particularly younger people and newcomers to a country. Rent reporting can help them qualify for loans and better rates later.
Risks
- Card economics: rewards on rent are expensive, and changes to issuer terms could affect members' enthusiasm.
- Landlord adoption: growth depends on large property owners continuing to offer Bilt.
- Points liability: generous rewards create obligations that must be funded.
- Valuation: tripling a valuation within 18 months raises the bar for future growth.
Questions for renters
- Does your building participate, and which payment methods earn points?
- Are there fees for paying rent by card on your plan?
- How do Bilt points compare with your existing card's rewards for the way you travel?
Latest developments (October 2026)
Bilt's July 2025 round of US$250 million at about US$10.75 billion remains its latest priced round as of October 2026. In 2026 it expanded beyond rent, adding the ability to earn points on mortgage payments through its partnership with United Wholesale Mortgage, which also invested in the company. Bilt had said it expected to pass US$1 billion in revenue in early 2026. It has also been changing its credit card arrangements, which affects how members earn and redeem points.
What to watch
Watch the new card programme's terms, mortgage rewards uptake, new property partners, further funding and any IPO plans. Our guide to the largest private fintech companies compares Bilt with peers.
Takeaways
Renters can earn rewards on their largest monthly expense. Founders can see how a two-sided network of landlords and merchants creates defensibility. Investors should watch card economics closely, since they underpin the member experience.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Bilt Rewards do?
Bilt Rewards is a fintech / housing loyalty and payments company headquartered in New York, New York, United States. It was founded in 2019.
What is Bilt Rewards's valuation?
Bilt Rewards was valued at About US$10.8 billion as of July 2025, according to Bloomberg Law. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Bilt Rewards make?
Bilt Rewards is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Bilt Rewards's latest funding round?
The most recent financing we have verified is a equity round in Jul 2025: US$250M, at a valuation of About US$10.8B. Source: Bloomberg Law.
Who are Bilt Rewards's investors?
Investors named in public announcements include General Catalyst, GID, United Wholesale Mortgage, Blackstone, Left Lane Capital, Eldridge, Camber Creek and Smash Capital.
Who founded Bilt Rewards?
Bilt Rewards was founded in 2019 by Ankur Jain (CEO).
Is Bilt Rewards a public company?
No. Bilt Rewards is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Bilt Rewards headquartered?
Bilt Rewards is headquartered in New York, New York, United States.