“General Catalyst Founds $200M Investment in Bilt Rewards, Boosting Valuation to Impressive $3.1B”

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Bilt Rewards, whose platform aims to allow consumers to earn rewards on rent and daily neighborhood spend, has raised $200 million at a $3.1 valuation, the company announced today. General Catalyst led the financing, which more than doubles the New York-based company’s valuation compared to its $150 million October 2022 raise. Ken Chenault, chairman and managing director of General Catalyst, is joining Bilt’s board of directors as part of the new funding. It launched its rewards program in April of 2022. Bilt also offers a co-branded Mastercard, issued by Wells Fargo, that can be used to pay rent and earn Bilt Points with no transaction fees.