Raised Capital of $250 Million with a Valuation exceeding $10 Billion by Bilt
In a significant move, loyalty platform Bilt has secured $250 million in new funding, valuing the company at an impressive $10.75 billion. This investment will drive the company's strategic shift towards a more comprehensive rewards ecosystem, focusing on both renters and homeowners.
## Expanded Credit Card Program
To achieve this goal, Bilt has partnered with embedded credit card platform Cardless to develop Bilt Card 2.0. This new lineup will include a no-annual-fee card, a $95-annual-fee card, and a premium $495-annual-fee card. These cards are designed based on extensive feedback from Bilt members, aiming to provide more choice, benefits, and rewards.
Current Bilt Mastercard holders can look forward to a seamless transition to the new Cardless platform, scheduled for February 2026, without any changes in their behaviour.
## Housing Coverage
Bilt is also expanding its rewards program to cover a wider range of housing-related expenses. The company is building on its successful rent-payment rewards program by introducing points earning on mortgage payments. Furthermore, with the new funding, Bilt is accelerating its expansion into broader housing categories, including condos, HOAs, student housing, and mortgage payments.
These developments reflect Bilt's commitment to providing a more comprehensive rewards ecosystem, catering to the needs of various homeowners beyond just renters. The company expects to process over $100 billion annually in housing spend in the next six months and anticipates it will surpass $1 billion in revenue by Q1 2026.
Key investors in the funding round include General Catalyst, GID, and United Wholesale Mortgage. These partnerships will further strengthen Bilt's position in the housing market and support its growth ambitions.
[1] https://www.cardless.com/ [2] https://www.bilt.co/ [3] https://www.bilt.co/cardless [4] https://www.bilt.co/mortgage
- The newly secured $250 million funding for loyalty platform Bilt will not only drive the company's strategic shift towards a rewards ecosystem for both renters and homeowners, but will also facilitate advancements in their business, such as developing a more diverse technology-driven credit card program with Cardless, aimed at catering to the diverse needs of consumers.
- To further enhance its housing rewards program, Bilt is expanding its coverage to include mortgage payments, reflecting its commitment to providing a comprehensive finance solution for homeowners, aiming to process over $100 billion annually in housing spend in the next six months and surpass $1 billion in revenue by Q1 2026.
