Bilt Rewards raises $200 million

Bilt Rewards, which operates a loyalty program and credit card that converts rent payments into points, has raised $200 million at a $3.1 billion valuation. The round was led by General Catalyst and included participation from Eldridge, Left Lane Capital, Camber Creek and Prosus Ventures.

Launched in June 2021 by Kairos HQ, a VC firm and accelerator building companies in housing and healthcare, Bilt allows renters to earn points by paying their rent using the Bilt Mastercard.

The startup claims that it became profitable on an EBITDA basis in 2023. It raised a total of $413 million.