The round was led by Left Lane Capital with investment from Smash Capital, Wells Fargo, Greystar, Invitation Homes, Camber Creek, Fifth Wall, and Prosus Ventures to further expand its loyalty program and credit card product. The new capital values Bilt Rewards at $1.5 billion.

Bilt Rewards, launched by Kairos, is the first-ever loyalty program that allows renters to earn points on rent with no transaction fees and builds a path towards homeownership. Through a partnership with the country's largest owners including AvalonBay Communities, Equity Residential, Related, Starwood Capital Group and more, Bilt Rewards enables renters in more than two million units across the country to earn points just by paying rent. Bilt Rewards boasts one of the highest value rewards programs on the market today, including one-to-one point transfers to 12 loyalty programs allowing members to travel across over 100 major airlines and hotel partners. Members can also book travel through the Bilt Travel Portal powered by Expedia, book fitness classes at the country's top boutique studios including SoulCycle, Solidcore, Rumble and Y7; shop limited-edition and exclusive collections of art and home decor through the Bilt Collection or purchase items on Amazon.com, redeem for credits towards rent or even apply Bilt points towards a future downpayment. Bilt has also partnered with Mastercard to create the Bilt Mastercard - the first and only credit card that can be used to pay rent and earn points with no transaction fees.