Bilt Rewards, the proptech that rewards you for paying your rent!

October 26, 2022
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A new unicorn straight out of New York! Bilt Rewards has just raised $150 million at the end of the month. By selling 10% of its shares, the company now has a valuation of $1.5 billion.A new unicorn straight out of New York! Bilt Rewards has just raised $150 million at the end of the month. By selling 10% of its shares, the company now has a valuation of $1.5 billion.

The innovative concept of being tenant-centric

To help property managers get paid, Bilt has chosen to turn the tables by focusing on tenants.

With Bilt, they are offered a loyalty program and a credit card allowing them to earn points for their purchases. It is already working with the largest property managers and owners, not to mention that it was created only last year, in June 2021!

How does it work?

Bilt users earn points and by doing so improve their Credit Score (a very important index of creditworthiness for individuals, especially in the United States). Then, the points collected can be used for many things. Notably in one of the 12 loyalty programs set up by Bilt with large-scale partnerships such as hotels or airlines, fitness centers or even Amazon!

But beyond offering advantageous rates for many expenses or leisure activities, Bilt points can also be used to pay their future rents (once again making it easier for managers to manage their budget) and even finance the purchase of a home to help become a homeowner!

Bilt in figures:

Bilt has already managed over $3.5 billion in rent payments since its launch less than 18 months ago,

And over that time, it has worked with more than 2.5 million renters.

Via Bilt Homes, the new feature just unveiled, the platform will show renters the properties they could afford with a loan payment equivalent to their current rent

A favorable context

Through these different measures, Bilt brings a practical answer to the inflationary context and the strong decrease in purchasing power. It also allows you to better plan your finances by saving with the points you earn. Without forgetting the real estate increases that prevent many households from becoming homeowners, Bilt and its Bilt Homes service can provide leads for acquiring property, especially on a small budget. A more than promising proptech.

By
Arthur
Unicorns analyst
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