Do you pay rent? This week’s startup may be for you: Bilt Rewards is a loyalty program that lets you earn points by just paying your rent.
⚾️ The Elevator Pitch:
As per the Census Bureau’s Household Survey, there are 13 million households that are falling behind on rent. 25% of these households have children, meaning that collecting rent at the end of the month or putting food on the table is a serious concern.
Bilt Reward promises to make this hefty process simple by allowing renters to earn and redeem points on payments. By just paying your rent, you can fund your next vacation, home decoration, physical classes, or a night out. On top of this, Bilt offers an alliance for up to 2 million households and Bilt Mastercard so you can earn more by spending less.
👇 The Drop Down
Tech trend: FinTech, Real Estate
Traction: Company value $350 million, support 40,000 apartment units (as of September 202), $60 million seed raised, Featured in Techcrunch, Yahoo, Crunchbase, and nerdwallet.
Team: Award-winning brand builder, Venture Fellows, and Financial Strategist
Ankur Jain - CEO
Zoe Oz - CMO
Will Mayer - VP
🔍 Our Analysis
- 🤑 Fun new ways to pay rent
We’ve never seen so many rewards programs for just paying rent. Bilt is partnered with major airlines, SoulCycle, and dozens of other partners. Bilt has put in the work to make sure their points are valuable via redemptions.
- 🏠 Household Problem: Now is the time
Due to the recent pandemic and economic instability, the U.S is facing the most severe housing crisis in the world. Although mandates have been instated by the Centers for Disease Control to prevent residents from eviction, rent has been a cause of stress for many families. Bilt rewards help renters get more value back from renting and incentivizes on-time payments.
- ✨ Can they survive?
- The world is seeing a proliferation of credit/debit cards to help manage finances (with Brex, Ramp, and hundreds of other startups, just to name a few). We’re curious to see how Bilt can distinguish itself from the competition - maybe focusing on their desperate user, the renter, is a good start.
🤝 Get involved with Bilt
- Join the bilt reward alliance program
- Check out their editorial section to learn some great insights
- Follow them on LinkedIn and Facebook, they are constantly hiring