Bilt Rewards

Bilt Rewards is a financial technology company that has carved out a niche by enabling consumers to earn rewards on their largest monthly expense: rent. Founded in 2019 by serial entrepreneur Ankur Jain and officially launched in 2021, the New York-based firm addresses the significant market of 44 million American households that pay rent. Jain, who serves as the CEO, has a background in creating ventures focused on solving societal challenges, having previously founded the investment firm Kairos and served as VP of Product at Tinder. His experience with another startup, Rhino, which replaces security deposits with low-cost insurance, provided insights into the rental market, leading to the creation of Bilt.

The company's core offering is a loyalty program that allows renters to earn points on rent payments without incurring transaction fees, a common hurdle in the industry. This is facilitated through the Bilt Rewards Alliance, a network of over 4.5 million rental homes managed by some of the largest property management firms. Renters in these properties can earn points simply by paying their rent through the Bilt app. For renters whose landlords are outside this network, the Bilt World Elite Mastercard®, issued by Wells Fargo, allows them to pay rent via the app, with Bilt then sending a check or electronic payment to the landlord. To earn points, cardholders must make at least five transactions per statement period.

Bilt's business model is multifaceted, generating revenue primarily through interchange fees from its co-branded credit card and referral fees from partners within its ecosystem. These partners include property management companies in the Bilt Rewards Alliance, who pay for attracting and retaining tenants. Additionally, the company earns referral fees when members use their Bilt points or linked cards for purchases with travel partners like airlines and hotels, or at participating local businesses such as restaurants and fitness studios. The platform's revenue reached an annualized $200 million by early 2022. The company has achieved significant valuation milestones, reaching $3.1 billion after a $200 million funding round in January 2024 and subsequently soaring to $10.75 billion following a $250 million round in July 2025.

The Bilt Rewards program offers extensive flexibility. Points can be redeemed for travel with a wide array of airline and hotel partners, used for future rent payments, applied toward a down payment on a home, or spent on fitness classes and merchandise from the Bilt Collection. The program features elite status tiers (Silver, Gold, Platinum) and Milestone Rewards, which unlock additional perks for every 25,000 points earned in a calendar year, further incentivizing engagement.

Keywords: rent rewards, loyalty program, Ankur Jain, property technology, proptech, fintech, credit card rewards, Bilt Mastercard, renter economy, points redemption, travel partners, interchange fees, referral fees, Bilt Rewards Alliance, Wells Fargo partnership, tenant rewards, housing affordability, real estate finance, down payment assistance, apartment living, rental payments