Bilt, which operates a loyalty program and credit card that converts rent payments into points, has secured a $250 million funding round led by General Catalyst and GID, with participation from United Wholesale Mortgage (UWM), the nation’s largest mortgage lender.
The funding brings Bilt’s valuation to $10.75 billion and will fuel expansion across the broader housing ecosystem, including mortgages, condominium HOAs and student housing, the company announced on Thursday.
In the mortgage space, Bilt is launching direct partnerships with loan servicers and has received a $100 million investment from UWM. More details about the collaboration will be announced this fall.
“Bilt’s platform will drive tremendous value for our brokers by delivering a better servicing experience and everyday rewards that create loyalty, while also creating a new pipeline of origination for our broker network,” said UWM boss Mat Ishbia in a statement.
Since it launched in June 2021, the company has reached a network of homes in one in four apartment buildings across the United States by partnering with 70% of the nation’s top 100 property managers, it claims. It has had six investment rounds, with 26 investors, according to CrunchBase.
Since its launch in June 2021, Bilt has claimed presence in one in four apartment buildings nationwide through partnerships with 70% of the top 100 U.S. property managers.
The company is now expanding its offerings into condo HOAs—through deals with Douglas Elliman, Century Management and others—and into student housing via a partnership with Blackstone’s American Campus Communities.
“As we continue scaling our network and expanding into new verticals, we remain focused on our core mission: making where you live more rewarding,” said Ankur Jain, CEO and founder of Bilt.
Bilt also announced that its Bilt Card 2.0, developed in partnership with Cardless (the platform behind the Coinbase Amex card), will launch in February 2026. The company will transition away from its current partnership with Wells Fargo, promising a “seamless” migration for cardholders.
Looking ahead, Bilt expects to surpass $1 billion in revenue in Q1 2026, process over $100 billion in housing-related spend by year-end, and drive more than $10 billion annually to local merchants.
“Bilt represents the convergence of America’s largest spending categories—housing and local commerce—into a single, powerful network that benefits everyone involved,” said Chairman Ken Chenault in a statement.