A further $150 million in financing has been secured by Bilt Rewards, the nation's largest loyalty program for the household and neighborhood. This round was headed by Teachers' Venture Growth (TVG), the late-stage venture and growth investment branch of Ontario Teachers' Pension Plan. Existing investors and new endowments, including the University of Illinois Foundation and Vanderbilt University Endowment, also participated. Following a $200 million raise in January, Bilt was valued at $3.1 billion. Bilt's strategic market position was further solidified by the appointment of Ken Chenault, former American Express CEO, as Chairman and NFL Commissioner Roger Goodell as an Independent Director.
Bilt’s resident loyalty program continues to evolve, addressing the critical need for timely rent payments and offering tailored benefits to residents while generating new revenue from local spending at partner merchants. The neighborhood loyalty program enhances local commerce by connecting residents, property owners, and businesses, creating a mutually beneficial ecosystem. Rick Prostko, Senior Managing Director at TVG, praised Bilt’s unique approach to empowering renters and expressed excitement about supporting the management team. CEOs from prominent restaurant groups have also lauded the program for its innovative approach to fostering strong community relationships and driving local business growth.
