Funding round
Bilt Rewards Growth
Reported as "Growth Equity"
Bilt Rewards, which works in rent payment rewards distribution in New York, raised $200M in a Growth round announced on 24 Jan 2024, led by General Catalyst, at a $3.10B post-money valuation. 5 firms took part. It is Bilt Rewards' second venture round on record; the one before was a Growth in Oct 2022.
$200M
Amount raised
$3.10B
Post-money valuation
$2.90B pre-money
5
Investors
1 lead
2.1x
Step-up from the Growth
$1.50B in Oct 2022
6.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Bilt Rewards at $3.10B after the new money, 2.1 times the $1.50B of its Growth (Oct 2022). The $200M bought investors about 6.5% of the company. It came 15 months after Bilt Rewards' Growth. It is 33% of the $600M Bilt Rewards has raised in the venture rounds on record. Bilt Rewards raised again 18 months later: a Growth round of $250M in Jul 2025, at $10.75B post-money.
Bilt Rewards' funding rounds
Bilt Rewards has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
General Catalyst led the round with 4 other firms.
Lead investor
- General Catalyst backs 574 venture-backed companies new investor
Also in the round
- Eldridge new investor
- backs 77 venture-backed companies new investor
- backs 31 venture-backed companies new investor
- Prosus Ventures new investor
Joined the board: Ken Chenault (General Catalyst) and Roger Goodell (NFL).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
22 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $48M, and this round was 4.2 times the median. The closest in time, other companies' Growth rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aspire Payment Processing & Point of Sale | 29 Jan 2024 | $79M | not disclosed | not named |
| Payment Processing & Point of Sale | 1 Jan 2024 | undisclosed | not disclosed | not named |
| Payment Processing & Point of Sale | 27 Feb 2024 | $20M | not disclosed | Alpha Wave Global |
| PPRO Payment Processing & Point of Sale | 13 Mar 2024 | $93M | not disclosed | not named |
| Payment Processing & Point of Sale | 7 Nov 2023 | $66M | not disclosed | Sixth Street Growth |
| Addi Payment Processing & Point of Sale | 24 Mar 2024 | $36M | not disclosed | Andreessen Horowitz and Union Square Ventures |
| Payment Processing & Point of Sale | 15 Nov 2023 | undisclosed | not disclosed | not named |
| SumUp Payment Processing & Point of Sale | 22 May 2024 | $307M | not disclosed | Sixth Street |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Bilt Rewards raise in its Growth round?
Bilt Rewards raised $200M in its Growth round, announced in Jan 2024.
Who led Bilt Rewards' Growth round?
General Catalyst led it, with Eldridge, Left Lane Capital, Camber Creek and Prosus Ventures.
What was Bilt Rewards' valuation at the Growth round?
$3.10B post-money ($2.90B pre-money).
How does it compare with other Growth rounds in Payment Processing & Point of Sale?
22 Growth rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $48M, and this round was 4.2 times the median.
Did Bilt Rewards raise again after this round?
Yes: a Growth round in Jul 2025 of $250M at $10.75B post-money.