Funding round
Bilt Rewards Growth
Reported as "Growth Equity"
Bilt Rewards, which works in rent payment rewards distribution in New York, raised $150M in a Growth round announced on 25 Oct 2022, led by Left Lane Capital, at a $1.50B post-money valuation. 10 firms took part. It is Bilt Rewards' first venture round on record.
$150M
Amount raised
$1.50B
Post-money valuation
$1.35B pre-money
10
Investors
1 lead
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Bilt Rewards at $1.50B after the new money. The $150M bought investors about 10% of the company. It is Bilt Rewards' first venture round on record, 1 year after it was founded in 2021. It is 25% of the $600M Bilt Rewards has raised in the venture rounds on record. Bilt Rewards raised again 15 months later: a Growth round of $200M in Jan 2024, at $3.10B post-money.
Bilt Rewards' funding rounds
Bilt Rewards has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
Left Lane Capital led the round with 9 other firms.
Lead investor
- backs 77 venture-backed companies new investor
Also in the round
- Smash Capital new investor
- Wells Fargo new investor
- Greystar new investor
- Invitation Homes new investor
- backs 31 venture-backed companies new investor
- Fifth Wall backs 103 venture-backed companies new investor
- Prosus backs 44 venture-backed companies new investor
- Kairos new investor
- backs 17 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion and scaling operations.
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
34 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $65M, and this round was 2.3 times the median. The closest in time, other companies' Growth rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 25 Oct 2022 | $110M | not disclosed | FTV Management Company |
| Payment Processing & Point of Sale | 4 Aug 2022 | $35M | not disclosed | Riverwood Capital |
| Payment Processing & Point of Sale | 11 Aug 2022 | $30M | not disclosed | Castle Creek Capital |
| Payment Processing & Point of Sale | 1 Jul 2022 | $178M | not disclosed | Lazada |
| Payment Processing & Point of Sale | 2 Jan 2023 | $6.2M | not disclosed | Mosaik Partners and Teaghlach Family Office |
| SumUp Payment Processing & Point of Sale | 23 Jun 2022 | $624M | $8.50B | Bain Capital Tech Opportunities |
| Payment Processing & Point of Sale | 16 Jun 2022 | $110M | $1.50B | not named |
| Payment Processing & Point of Sale | 1 Jun 2022 | $37M | not disclosed | Mastercard |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Bilt Rewards raise in its Growth round?
Bilt Rewards raised $150M in its Growth round, announced in Oct 2022.
Who led Bilt Rewards' Growth round?
Left Lane Capital led it, with Smash Capital, Wells Fargo, Greystar, Invitation Homes and Camber Creek and 4 more.
What was Bilt Rewards' valuation at the Growth round?
$1.50B post-money ($1.35B pre-money).
How does it compare with other Growth rounds in Payment Processing & Point of Sale?
34 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $65M, and this round was 2.3 times the median.
Did Bilt Rewards raise again after this round?
Yes: a Growth round in Jan 2024 of $200M at $3.10B post-money.