Bilt Rewards, a unique loyalty platform, is revolutionizing how users earn rewards by allowing them to collect points for their rent payments, which is typically their largest monthly expense. Recently, the company raised $150 million in funding, bringing its total capital raised to $563 million. This funding round was led by Teachers’ Venture Growth and included notable investors such as Vanderbilt University Endowment and the University of Illinois Foundation. Bilt users can earn points not only through rent but also at various restaurants, fitness studios, and via Lyft, with the ability to transfer these points to numerous travel loyalty programs like IHG and United Airlines. The platform has seen substantial growth, processing over $30 billion annually, marking a 50% increase since January. Bilt's innovative approach to integrating rent payments with a rewards system positions it as a key player in the evolving travel and loyalty market.
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