Bilt Rewards, a New York-based startup, has secured a whopping $200 million in a funding round led by General Catalyst, catapulting its valuation to $3.1 billion. This is a significant leap from its previous valuation in 2022. The company, which allows consumers to earn rewards on rent payments, plans to broaden its horizons by including local dining, grocery stores, ridesharing, and other retail purchases in its network.
In the words of founder and CEO Ankur Jain, they are not just building a loyalty program but a “community-centric ecosystem” that benefits everyone from renters to local businesses. Adding to its impressive growth, Bilt has appointed industry heavyweights Ken Chenault, former CEO of American Express, as its chairman, and Roger Goodell, the NFL commissioner, as an independent director.