Latest news with #AnkurJain
Forbes
4 days ago
- Business
- Forbes
Bilt Reaches $10.8B Valuation & Announces Home Away From Home Platform
Imagine walking into your neighborhood cocktail bar and receiving a round of espresso martinis on the house – not because it's your birthday, but because you live nearby. Or booking a fitness class seamlessly through an app, and earning a post-workout smoothie in the process. Bilt is betting big on this vision of hyper-local loyalty, where members including many Gen Zers, earn perks not only for paying rent but also for engaging with the merchants, experiences, and entertainment options that define their daily lives. The loyalty program turning rent payments into reward points, has launched a hotel collection that brings this to life. The company's newly launched "Home Away From Home" collection offers Bilt's members VIP benefits like early check-in and premium amenities at the world's most prominent hotels. This marks a notable shift for a company that built its reputation on helping renters earn points on their monthly housing payments. While Bilt has offered travel-focused rewards before - in partnership with Virtuoso - this latest addition suggests the five-year-old startup is testing whether its members want more than just rent-related perks from their loyalty program. It doesn't hurt that just last week, the company more than tripled its valuation to $10.75 billion. But, this global travel expansion retains a local-first lens. Ankur Jain, founder and CEO of Bilt, explains, 'When our most loyal members travel, they get curated recommendations and perks at the best local restaurants and bars in that city. We're enhancing our merchant network by connecting travelers to it, not just residents.' "Our Gold and Platinum members have been asking for travel experiences that match the elevated lifestyle they've come to expect,' said Richard Kerr, VP of Travel at Bilt. 'Home Away From Home delivers exactly that, but with a twist – every property feels like an extension of their own neighborhood. The partnership with Virtuoso means they're getting white-glove service with dedicated travel advisors managing every detail of their journey. We're giving our members that same level of access and service as part of their existing Bilt experience." Latte with heart-shaped foam art served at Sideboard in Lafayette, California, January 30, 2025. ... More (Photo by Smith Collection/Gado/Getty Images) From Rent Payments to a Local Lifestyle Platform Bilt began with a simple but powerful idea: allow renters to pay rent by credit card without transaction fees and earn points along the way. But Ankur Jain, Bilt's founder and CEO, sees an even broader future. 'We looked at it as a housing and neighborhood commerce platform,' Jain explains. 'The customer gets value for payments they're already making, plus rewards that create a true members-club feel within their community.' The company partners with property managers nationwide to integrate seamlessly into residents' lives, creating what David Wyler, Chief Business Officer, calls a fully branded ecosystem. 'There are more Bilt emblems on property walls than some hotel signs globally,' he says. Residents encounter Bilt at every stage – from lease signing to monthly payments to local perks that make their neighborhood feel like an extension of their living room. Home Away from Home journey Driving Local Commerce with Data and Perks Beyond rent rewards, Bilt's model aims to drive meaningful economic impact for neighborhood businesses. 'Two years ago, we launched our neighborhood rewards program,' says Jain. 'Local businesses pay us to drive customers to them. It's a performance marketing fee – they only pay when we drive spend.' Through its platform, merchants can analyze foot traffic and spending patterns by building, allowing them to tailor promotions. Jain illustrates: 'A restaurant can see there are 347 residents in a nearby building, 19 have visited so far, and they can target that building with a campaign offering comped espresso martinis for every guest in their reservation. It's hyper-targeted and drives real ROI.' Richard Kerr, VP of Travel, echoes this focus on value creation: 'These businesses no longer have to rely on flyers under doors or broad Facebook ads. We're offering a smarter way to connect with locals who live just steps away.' Entertainment as a Loyalty Driver Bilt is also reinventing neighborhood entertainment. Jain says Bilt invests in hyper-local experiences. 'We created a network of private comedy shows across the U.S., bringing the best local stand-up talent to intimate, invite-only events for Bilt Members. We also host monthly tasting menus with top neighborhood chefs to introduce residents to their local culinary scene.' This experiential focus turns loyalty from a transactional program into a lifestyle brand, aligning with what consumers increasingly value: unique experiences that create connection and community. Integrations Drive Richer Local Loyalty Program Bilt's competitive edge lies in deep integration with housing and neighborhood commerce ecosystems, enabling services that go far beyond traditional points programs. Jain elaborates, 'We built a rewards ecosystem, a demand management platform, and a loyalty checkout capability. We can programmatically have a car waiting to move you, have dinner booked and certain items comped, and automatically apply your FSA/HSA benefits – all seamlessly integrated.' This vision – a frictionless local loyalty experience powered by AI and proprietary integrations – turns loyalty into a strategic moat. 'Even OpenAI, which powers a lot of our models, doesn't have integrations into point-of-sale systems, healthcare reimbursement rails, or the rent ledger,' Jain notes. 'That's what makes Bilt unique.' The Future of Local Loyalty As urban living and digital experiences continue to merge, Bilt is betting that loyalty's next frontier isn't just about flights or cashback. Instead, it's about making people feel recognized, rewarded, and entertained in the places they call home – whether that's an apartment in Brooklyn Heights, a condo in Scottsdale Quarter, or a luxury hotel suite in Aspen. Jain summarizes the thesis simply: 'Your home isn't just the four walls you live in. It's where you dine, work out, pick up prescriptions, and spend time with friends. We're creating a loyalty experience that lives everywhere you do.'
Finextra
14-07-2025
- Business
- Finextra
Bilt hits $10.75bn valuation
Neighbourhood loyalty platform Bilt has raised $250 million in primary funding, sending its valuation soaring to $10.75 billion. 0 The round was led by General Catalyst and GID with further investment from United Wholesale Mortgage and more than triples Bilt's valuation from a $150 million round just a year ago. Launched in 2021, Bilt began as the first platform enabling US consumers to earn rewards on their largest monthly expenditure - rent - and then use the rewards via a card at local merchants. The firm's network of homes has now signed one in four apartment buildings across the United States and partnered with over 40,000 merchants nationwide. It has also grown from a card business into a full loyalty ecosystem, with more than 85% of members now using its platform via ACH, debit cards, credit cards, and more. Meanwhile, it drives business to merchants in its local network through an AI-powered 'neighbourhood concierge' that introduces members to those merchants and offers personalized recommendations. With new funding in place, Bilt is now expanding to all housing categories: condo, student housing and mortgage payments. Says CEO Ankur Jain: "What makes Bilt special isn't just our scale—it's our flywheel effect. More properties in our network attract more merchants, which creates more value for residents, which attracts more properties. This virtuous cycle, powered by our AI-driven commerce platform and comprehensive merchant integrations, creates an ecosystem that becomes stronger with each new participant."
Miami Herald
12-07-2025
- Business
- Miami Herald
Homeowners can earn new cash-back rewards on mortgage payments soon
Housing costs have risen significantly over the past decade, accounting for an increasing share of household income. Affordability is one of the primary barriers to homeownership, as many Americans struggle to save for a down payment while making monthly rent payments. Although many credit cards offer extensive rewards programs, rent and mortgage payments have historically been excluded. Renters have always had the option to pay rent with a credit card, but not all landlords accept them. In addition, these transactions typically come with processing fees and and could even damage credit scores. Don't miss the move: SIGN UP for TheStreet's FREE daily newsletter Bilt was founded as a startup in 2019 and launched its loyalty reward program in 2021, allowing users to earn cash-back rewards on rent payments. Users also have the option to build their credit scores by reporting their on-time payments to Equifax, TransUnion, and Experian. Now, the tech company has announced it will expand its rewards program to include mortgage payments, allowing homeowners to take advantage of earning money on their monthly housing costs. As homeowners grapple with the rising cost of living, earning money back on a major recurring expenses could offer some relief. Image source: Shutterstock The Harvard Center for Joint Housing Studies found that the median home price was 5.6 times the median salary in 2022. As housing prices rise for both renters and homeowners, many Americans are looking for ways to save on costs and make ends meet. Nearly half of all renters are cost-burdened, meaning that they spend more than 30% of their income on housing. Bilt has traditionally allowed renters to earn rewards on their monthly rent payments, but now homeowners are eligible for the same benefits on their mortgage payments. In a letter to Bilt members, Founder and CEO Ankur Jain unveiled new plans to offer three different card options, and a future mortgage reward program. "The new card lineup will include three distinct products designed to serve Bilt's diverse member base: a no-fee card option, along with premium cards featuring $95 and $495 annual fees, respectively." More on homebuying: The White House will take surprising approach to curb mortgage ratesHousing expert reveals surprising ways to reduce your mortgage rateDave Ramsey predicts major mortgage rate changes are coming soonWarren Buffett's Berkshire Hathaway sounds the alarm on the 2025 housing market Though the exact details of the rewards on mortgage payments will be revealed later this year, homeowners can expect similar rewards to the Bilt rental program and earn points that can be applied to the next month's payment. "Bilt Card 2.0 launches in February 2026, and current cardholders will be seamlessly moved from Wells Fargo to our new card platform at that time," Jain wrote. "More details about the new issuing partner, enhanced rewards including points on both rent and mortgage, the broader card value prop, and the transition process will all be announced early fall." As the housing market continues to stagnate from rising home prices, sticky mortgage rates, and dampened buyer demand, many would-be homebuyers are delaying homeownership until market conditions improve. Bilt plans to expand its product offering into mortgages, partnering with leading mortgage lenders to reshape the industry. "We're announcing our expansion into mortgage through direct partnerships with mortgage servicers, revolutionizing the mortgage experience from origination through servicing on to loyalty. United Wholesale Mortgage has invested $100 million into this round as part of an exciting strategic partnership," Jain continued. Related: Bank of America predicts major housing market changes are coming soon United Wholesale Mortgage CEO Mat Ishbia expects the partnership with Bilt to reshape the customer service experience for lenders and homeowners. "Bilt's platform will drive tremendous value for our brokers by delivering a better servicing experience and everyday rewards that create loyalty, while also creating a new pipeline of origination for our broker network," Ishbia said. "We think this represents the future of how customers will engage with their mortgage throughout the entire homeownership journey." Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Business Wire
10-07-2025
- Business
- Business Wire
Bilt Raises $250 Million at $10.75 Billion Valuation to Accelerate Housing and Neighborhood Commerce Platform
NEW YORK--(BUSINESS WIRE)-- The following is a letter from Bilt Founder and CEO Ankur Jain to Bilt Members. We're accelerating our mission to connect where you live with your neighborhood. Today we're also announcing our expansion across all housing categories, mortgage plans, and the upcoming Bilt Card 2.0. Today marks a defining moment in our journey to transform how Americans engage with their largest spending categories. We're thrilled to announce that Bilt has raised $250 million in new primary funding, valuing our company at $10.75 billion. The round was led by General Catalyst and GID with further investment from United Wholesale Mortgage. This milestone reflects the incredible momentum we've built as the nation's largest comprehensive loyalty platform that connects where you live with your neighborhood. How We've Built the Future of Home and Neighborhood What started as a revolutionary idea—allowing renters to earn rewards on their largest monthly expense—has evolved into something far more ambitious: a comprehensive platform that transforms how people experience their home and neighborhood. Bilt's network of homes has now signed 1-in-4 apartment buildings across the United States, partnered with over 40,000 merchants nationwide. Our platform has grown from a card business into a full loyalty ecosystem for home and neighborhood, driven by partnerships with property managers and local merchants. More than 85% of our members now use Bilt's platform without the Bilt card, as we have built an ecosystem that serves all residents who live in our network of homes—with any payment method of their choice. We operate as one of the largest payments platforms for housing transactions, processing across ACH, debit cards, credit cards, and more, while driving business to merchants in our local network through our marketplace and providing value-added services to property managers and merchants—all while ensuring our members are rewarded for their largest monthly expense and everyday neighborhood spending. The numbers speak to our rapid growth: Expected to cross $1 billion in revenue by Q1 2026 Will be processing over $100 billion annually in housing spend by end of year Will be driving over $10 billion annually to neighborhood merchants Our Bilt Points have been ranked as the highest value rewards currency in market (see here) Partnerships with 70% of the nation's top 100 property managers We're Making Your Neighborhood Feel Like Your Own Members Club We're continuing to scale our neighborhood commerce services to merchants, creating an experience that makes your neighborhood feel like your own members club. Local merchants already know you, you get best-in-class hospitality and service, can pay with points or charge to your room, and have access to unique benefits like our automatic FSA/HSA reimbursements, complimentary items at fitness studios, and much more. Our AI-powered neighborhood concierge helps introduce our residents to local merchants with personalized recommendations, strengthening the local economy while enhancing the member experience. This isn't just about transactions—it's about building vibrant communities where people truly love where they live. "The most important customers in our restaurant business are locals," said Sam Bakhshandepour, CEO of José Andrés Group. "Bilt drives unprecedented connection to the neighborhood community and helps us deliver an even stronger guest experience. The platform creates exactly the kind of local engagement that makes dining special." We'll be announcing some really exciting new benefits in the coming months that will further enhance this members club experience in your neighborhood. "Bilt represents the convergence of America's largest spending categories—housing and local commerce—into a single, powerful network that benefits everyone involved," said Ken Chenault, Chairman of Bilt. "What we're building goes beyond the four walls of your apartment; we're connecting you with your entire neighborhood and making every aspect of where you live more rewarding." We're Expanding Our Network Across All Housing Categories This funding round accelerates our expansion across the entire housing ecosystem: Condo & HOA Expansion: We're growing our network of homes beyond traditional apartments, expanding into condo HOAs with recent partnerships, including Douglas Elliman, Century Living, and more. This brings our comprehensive platform to homeowners who want to earn rewards on their HOA fees while accessing neighborhood benefits. Student Housing: We've launched with Blackstone's American Campus Communities, bringing our platform to student housing nationwide. Students can now earn rewards on their housing payments while discovering local businesses around campus. Mortgage Expansion: We're announcing our expansion into mortgage through direct partnerships with mortgage servicers, revolutionizing the mortgage experience from origination through servicing on to loyalty. United Wholesale Mortgage has invested $100 million into this round as part of an exciting strategic partnership. More details on this partnership will be announced this fall. "Bilt's platform will drive tremendous value for our brokers by delivering a better servicing experience and everyday rewards that create loyalty, while also creating a new pipeline of origination for our broker network," said Mat Ishbia, CEO of United Wholesale Mortgage. "We think this represents the future of how customers will engage with their mortgage throughout the entire homeownership journey." We will continue to expand with other mortgage servicers in the industry. We're Introducing Bilt Card 2.0: Built by Your Feedback Earlier this year, we received incredible feedback from tens of thousands of our Members about what they wanted from their Bilt Card experience going forward. Based on that feedback, we have been developing new cards that deliver the depth and breadth of product experience you all have asked for. Bilt Card 2.0 is being developed in partnership with Cardless—the platform which recently launched the American Express Coinbase card. The new card lineup will include three distinct products designed to serve Bilt's diverse member base: a no-fee card option, along with premium cards featuring $95 and $495 annual fees, respectively. Bilt Card 2.0 launches in February 2026, and current cardholders will be seamlessly moved from Wells Fargo to our new card platform at that time. More details about the new issuing partner, enhanced rewards including points on both rent and mortgage, the broader card value prop, and the transition process will all be announced early fall. Everything stays the same for you today, and we'll walk you through the exciting transition as we get closer to launch. This next-generation card experience represents our commitment to listening to our members and continuously innovating to provide the most valuable rewards currency in the market. Our Platform Is Built for Growth What makes Bilt special isn't just our scale—it's our flywheel effect. More properties in our network attract more merchants, which creates more value for residents, which attracts more properties. This virtuous cycle, powered by our AI-driven commerce platform and comprehensive merchant integrations, creates an ecosystem that becomes stronger with each new participant. Our members aren't just customers; they're part of a community that spans from coast to coast. With highly engaged social media followers, one of the most active communities on Reddit globally, and vibrant local neighborhood experiences, we're building something that goes far beyond traditional loyalty programs. What's Next for Our Community As we continue scaling our network and expanding into new verticals, we remain focused on our core mission: making where you live more rewarding. Whether you're paying rent, buying your first home, or discovering a new restaurant in your neighborhood, Bilt is there to make every experience more valuable. To you, our members, who have joined us on this journey: thank you for choosing Bilt and for being part of building the future of housing and neighborhood commerce. To our partners across real estate, hospitality, and travel: thank you for believing in our vision and helping us create unprecedented value for our members. This is just the beginning. Together, we're not just building a company—we're building a movement that helps millions of Americans love where they live. Thank you for being part of the Bilt community, Ankur Jain CEO & Founder, Bilt About Bilt Bilt is the payments and commerce network that transforms housing and neighborhood spend into rewards and benefits for everyone involved, and the first program to allow members to earn rewards on rent and HOA payments while building a path to homeownership. The Bilt Alliance —developed in partnership with some of the nation's largest residential owners and operators—is a network of more than 4.5 million homes across the country that rewards residents on each residential payment and enables property managers to increase resident loyalty and cost savings. Launched in June 2021, Bilt boasts one of the highest value rewards programs on the market today—including one-to-one point transfers for travel across major airlines and hotel partners; fitness classes at the country's top boutique studios; limited-edition and exclusive collections of art and home decor through the Bilt Home Collection; and the ability to use Bilt Points for rent credits, toward a future down payment on a home, or toward eligible student loans. For more information, visit
Hindustan Times
09-07-2025
- Health
- Hindustan Times
What happens to your gut after 40? Doctor lists 5 major changes, shares tips to manage
By the age of 40, the digestive system begins to undergo subtle changes that can impact overall well-being, from nutrient absorption to bowel regularity. In an interview with HT Lifestyle, Dr. Ankur Jain, associate director and unit head of gastroenterology, hepatology and endoscopy, Max Super Speciality Hospital, Dwarka said, 'Your gut health in your 40s and beyond is a dynamic interplay of age, diet, lifestyle, and medical factors. A proactive approach rooted in nutrition, movement, and regular monitoring can ensure a healthy gut and a better quality of life.' Also read | Nutritionist shares 5 signs of poor gut health: Brain fog, bloating, irritation and more After the age of 40, nutrient absorption and bowel movements can change.(Shutterstock) Here's what happens to your gut after the age of 40: 1. Slower digestion and metabolism With age, the rate at which food moves through the digestive tract slows down. This can lead to a feeling of fullness, bloating, or constipation. The decline in muscle tone of the digestive tract and reduced secretion of digestive enzymes means that food takes longer to break down. How to manage: A fiber-rich diet, adequate hydration, and regular physical activity can help counteract these effects. 2. Decrease in stomach acid (hypochlorhydria) Stomach acid plays a crucial role in breaking down food and killing harmful bacteria. After 40, many people experience a drop in stomach acid levels, which can lead to indigestion, nutrient deficiencies (especially B12, iron, and calcium), and an increased risk of gut infections. How to manage: Eating smaller, more frequent meals and fermented foods may help digestion. After 40, gut health takes a hit.(Shutterstock) 3. Gut microbiome imbalance The diversity and balance of gut bacteria often decline with age, impacting immunity, mood, and digestive efficiency. Antibiotic use, poor diet, and stress can accelerate this imbalance. How to manage: Probiotics, prebiotic-rich foods (like garlic, onions, bananas), and a plant-based diet can help maintain a healthy microbiome. Also read | Gastroenterologist shares his morning routine for a healthy liver and gut - and why you should try it too! 4. Higher risk of gastrointestinal disorders Age-related weakening of the gastrointestinal lining can make one more susceptible to issues like acid reflux, diverticulosis, or irritable bowel syndrome (IBS). How to manage: Regular health check-ups, mindful eating, and avoiding triggers like spicy foods or late-night meals can reduce the risk. 5. Impact of medications and comorbidities After 40, many individuals begin taking long-term medications for conditions like hypertension, diabetes, or arthritis. These drugs can influence gut motility and flora, sometimes causing constipation or diarrhea. How to manage: Consulting a doctor about gut-friendly alternatives and using supplements wisely can minimise side effects. Also read | Harvard gut health physician shares 11 science backed tips to eat healthier: 'Don't shy away from eggs' Note to readers: This article is for informational purposes only and not a substitute for professional medical advice. Always seek the advice of your doctor with any questions about a medical condition.
