Leading the round was Teaches’ Venture Growth (TVG), the late-stage venture and growth investing branch of the Ontario Teachers’ Pension Plan. In addition to current contributions, new investors included the University of Illinois Foundation and the Vanderbilt University Endowment.

Shortly after Bilt's $200 million capital infusion in January, which valued the company at $3.1 billion, comes this most recent financial inflow, which values the company at $3.25 billion.

Bilt is a 2022 startup that offers a credit card and loyalty program provided by Mastercard. It bills itself as the "first-ever" rental program that lets tenants accumulate points for their rent and create "a path towards homeownership."

Bilt emphasizes that the business has had "remarkable growth across multiple facets of its business" since the investment in January.

According to the company, platform expenditure has grown by 50% since the January round, reaching over $30 billion annually. Furthermore, the program's merchant customer base has reportedly grown dramatically, adding over 3,500 fitness studios and 21,000 eateries to its current total.

According to Bilt, the money will be used to improve the products it offers—mortgage payments will be added later this year—and to support the national rollout of its loyalty program.