Bilt Rewards , a platform allowing consumers to earn rewards and daily neighbourhood spend, has secured an additional USD 150 million in funding. Following a USD 200 million funding from February 2024, the current investment round was led by Teachers’ Venture Growth (TVG) and saw participation from existing investors and new endowments, such as Vanderbilt University Endowment and the University of Illinois Foundation.

Similarly to its plans for its previous capital injection, Bilt Rewards aims to leverage the funds to scale its neighbourhood loyalty program with merchants across the US, with the firm intending to expand to single-family homes and condominiums. In addition, the company is set to include mortgage payments in the upcoming period. Bilt Rewards’ development strategy Since raising USD 200 million in funding and nearly doubling its valuation, Bilt Rewards saw substantial expansion across several areas of its business, with the growth being supported by the expansion of its resident loyalty program.

The company expanded the reach of its program to more apartment buildings and entered into the condominium and HOA markets. Moreover, Bilt Rewards’ neighbourhood loyalty program increased its merchant base, currently including approximately 21,000 restaurants and 3,500 fitness studios. Also, through the previous investment, the company modified its leadership structure, which further solidified its strategic position in the market. Furthermore, representatives from Bilt Rewards underlined that, by connecting residents, property owners, and local businesses, their company aims to develop an ecosystem that provides benefits to all parties involved.

The firm intends to continue to scale its resident loyalty program, planning to partner with seven of the ten largest multifamily owners in the US. Bilt Rewards’ officials also highlighted that the current funding accelerates the company’s commitment to reward US residents for how they live and spend in their communities. The company is currently working on growing its neighbourhood loyalty program, expanding into several categories, such as healthcare, gas, and groceries.

By having members in all 50 US states, Bilt Rewards intends to create an optimised platform that can support residents, property owners, and local businesses across the region. .