rewrite this title Bilt Raises $250 Million at $10+ Billion Valuation – Finovate

Bilt raised $250 million in new funding, boosting its total raised to $813 million and reaching a $10.75 billion valuation.

The company is expanding its rewards program to cover more housing categories like condos, HOAs, student housing, and even mortgage payments through a partnership with new investor United Wholesale Mortgage.

Bilt is also developing new credit card options, including a no-fee card and two premium tiers.

Loyalty platform Bilt received $250 million in new funding this week. The investment, which was led by General Catalyst and GID with additional funds coming from United Wholesale Mortgage, boosts the New York-based company’s total raised to $813 million.

Bilt was founded in 2021 to offer a loyalty rewards program and credit card that allows renters to earn points when they pay their rent, building credit with every payment. With no annual fee, the Bilt Mastercard credit card also allows cardholders to earn points on select dining experiences, rideshare purchases, and travel purchases. These points can be redeemed for travel, fitness classes, home decor, and even a down payment on a future home.

With today’s round, Bilt is also revealing its new valuation of $10.75 billion, representing more than a 3x increase in a single year. This new valuation reflects Bilt’s growth. The company anticipates it will surpass $1 billion in revenue by the first quarter of 2026 and will process over $100 billion annually in housing spend in the next six months. Additionally, the company’s network of homes has signed one in four US apartment buildings, partnering with 70% of the top 100 property managers. It has also added over 40,000 merchants across the US to its rewards network.

The company has expanded its network of merchant partnerships to make cardholders’ neighborhoods feel like their own members club. “Bilt represents the convergence of America’s largest spending categories—housing and local commerce—into a single, powerful network that benefits everyone involved,” said Bilt Chairman Ken Chenault. “What we’re building goes beyond the four walls of your apartment; we’re connecting you with your entire neighborhood and making every aspect of where you live more rewarding.”

Bilt is using the $250 million investment to grow the number of housing categories it is able to reward. The company is expanding into condo and HOA payments, student housing, and has also partnered with mortgage servicers–including today’s investor United Wholesale Mortgage–to expand into mortgage payments.

The company is also working on Bilt Card 2.0 in partnership with embedded credit card platform Cardless to offer a new, no-fee card option and two premium cards featuring $95 and $495 annual fees. Bilt didn’t offer additional details of the new card options, but teased the launch date of February 2026.

Photo by Tom Fisk

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