Bilt Rewards has announced a growth funding round of $60 million, with investment from Wells Fargo, Mastercard, and a group of the real estate owners including Blackstone, AvalonBay Communities, Douglas Elliman, New Valley Ventures, Equity Residential, GID, LEN×, The Moinian Group; Morgan Properties, Related Group, and Starwood Capital Group among others.
“The concept of Bilt is simple,” says Bilt CEO and founder Ankur Jain. “And the support from our partners in this early funding round validates that we are serving a real need for both consumers and businesses. In the same way airlines and hotels have created loyalists through their rewards programs over the last several decades, Bilt has introduced a new way to turn renting into an enjoyable experience that benefits everyone, and can even build a path towards homeownership. We are continuing to add enhanced benefits and new partners to build the best program possible, and we’re only just getting started.”
The new funding round will be used to further expand Bilt’s real estate and loyalty partner network, grow organic distribution channels, and open the Bilt Rewards platform and Bilt Mastercard more widely to the public.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.