Bilt Rewards Secures $200M Investment, Valuation Rises to $3.1B

Former American Express CEO Ken Chenault Appointed as Chairman, NFL Commissioner Roger Goodell Joins as Independent Director

Bilt Rewards, a loyalty program that allows users to earn points on their rent payments, has received a $200 million capital investment led by General Catalyst, raising its valuation to $3.1 billion.
Ken Chenault, former chairman and CEO of American Express, has been appointed as the new chairman of the board, and NFL Commissioner Roger Goodell has joined as an independent director.
The new funding will be used to expand the Bilt Rewards Alliance, which includes a network of four million premium rental properties around the United States, and to strengthen the Bilt Neighborhood Rewards program that rewards members for spending locally.
Bilt Rewards is also planning to venture into mortgage payment rewards, expanding its services to homeowners.
The company, which was launched in 2021, reported its annualized member spend is nearing $20 billion and became profitable on an earnings before interest, taxes, depreciation and amortization basis last year.