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General Catalyst leads $200M investment into Bilt Rewards, doubling its valuation to $3.1B
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,
CB Insights’ State of Venture Report 2023 found that while mega-rounds “were a hallmark of 2021, with 350+ occurring each quarter…in Q4’23, that figure fell to just 78 — the lowest level since 2017.” Bilt’s points can be used in a variety of loyalty programs, including major airlines, hotels, travel, fitness classes, Amazon.com purchases, credit toward rent or a future down payment. It will also go towards bolstering its Neighborhood Rewards program, which aims to help local merchants “connect and build loyalty” with new and existing residents in their community.
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