Bilt Rewards, a fintech platform that enables users to earn rewards on rent and mortgage payments, has reached a valuation of $10.75 billion following a new funding round. The investment was led by General Catalyst and GID, with additional backing from United Wholesale Mortgage.
The funding signals a broader rebound in investor confidence toward fintech startups, particularly those with a defined business model tied to everyday consumer payments.
Growing investor interest in rent-linked rewards
The latest round comes just months after Bilt’s January 2024 valuation of $3.1 billion. The company has significantly increased its market worth within a short span, reflecting both user growth and strategic expansion plans.
Michael Ashley Schulman, partner at Running Point Capital Advisors, noted that Bilt’s business model — built around monetizing payment flows — is attracting investor attention. “Platforms that show a clear path to profitability and tap into routine payment behavior are being looked at seriously again,” he said.
Expansion beyond rentals
Bilt plans to use the funding to expand its services into condominium associations, student housing, and mortgage payments. The company aims to leverage user data to create new financial service pipelines.
“The data Bilt is collecting on renters — and soon on homeowners through mortgage rewards — has strong potential,” Schulman added. “It opens opportunities for mortgage brokers and other residential service providers.”
Bilt Card transition and upcoming launch
The company is also working on a new version of its co-branded credit card, developed in collaboration with Cardless. The “Bilt Card 2.0” is expected to launch in February 2026.
Existing Bilt cardholders will be moved from the current Wells Fargo platform to the new Cardless system after the transition. According to a Wall Street Journal report, Wells Fargo is preparing to end its credit-card partnership with Bilt, citing financial losses from the collaboration. The bank declined to comment.
—----------------------
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.