Bilt Rewards Raises $150 Million to Turn Rent Payments into Travel

People love getting free stuff for money they’re already spending, and Bilt Rewards capitalizes on that. Users get points for rent — typically a person’s biggest monthly expense — that they can redeem for travel.

Bilt is among startups highlighted this week in travel sectors that need modernization: loyalty, vacation rentals, travel insurance, tours and attractions, and hospitality recruiting.

Six travel startups announced funding totaling more than $262 million.

Bilt Prizes: $150 million

Bilt Rewards, a loyalty platform that lets customers book travel, raised $150 million.

Teachers’ Venture Growth, the investment arm of Ontario Teachers’ Pension Plan, led the round. Other investors include Vanderbilt University Endowment and the University of Illinois Foundation.

The company has already raised $563 million. Bilt raised $200 million in January, valuing the company at $3.1 billion.

New York-based Bilt lets users earn loyalty points by submitting apartment rental payments through its platform. Users can also earn Bilt points at restaurants, fitness studios and through Lyft. The points can be used to purchase a range of travel products.

Users can transfer their points to more than a dozen loyalty programs, including IHG Hotels & Resorts, United MileagePlus and American Airlines AAdvantage. In the past few months, Bilt has added partnerships with Hilton Honors, Alaska Airlines and private air travel company Blade.

Members can also use points to book travel through Bilt, powered by Expedia.

Bilt members also have access to monthly deals. Previous travel deals include a trip to Hawaii for half off regular points, a 90-day trial of Hyatt’s loyalty program, and Lyft ride credits. This month, members who book a cruise through Virgin Voyages can get a free Plus-One and $100 bar credit.

The company works with property managers, who then offer the payment system to residents. The company plans to add mortgage lender clients later this year.

The company said that since January, the amount of money processed annually through the platform has increased by 50% to more than $30 billion.

Myne: $43.7 million

Myne, a platform that enables you to buy a share of your vacation home, has raised $43.7 million (€40 million) in Series A funding through a combination of equity and debt financing.

Limestone Capital AG led the round, with support from Motive Ventures and Scope Hanson. The company has now raised over $65.5 million (€60 million) in equity and debt.

Berlin-based Myne lets two to eight people buy shares in a vacation rental, with co-owners sharing occupancy, costs and any rental income. Investments start at $55,000 (€50,000), and each share entitles you to use the property for 6.5 weeks a year.

The digital platform includes a planning system, property management services for a monthly fee and the ability to sell shares to another person. Myne has properties in six European countries, with plans to expand to Croatia and Portugal.

The funds will be used to develop technologies and financial capabilities, as well as to expand into new and existing markets.

Faye: $31 million

Faye, a US travel insurance app, has raised $31 million in Series B funding.

Portage led the round, with support from Lumir Ventures, F2 Venture Capital, Viola Ventures, and Munich Re Ventures. The company has now raised $49 million.

Tel Aviv-based Faye offers travel disruption, health, pets, lost luggage and more. Some add-ons include adventure and extreme sports insurance, as well as damage to your vacation rental.

Since last year, Faye has added several products: travel-prepared information like recommendations for healthcare in a given location, access to telemedicine with the ability to schedule in-person visits, travel tips, and more.

Users can contact customer service representatives, file claims, and receive payments from their insurer through the app.

Faye plans to increase revenue fivefold this year, including by selling to travel companies as a consumer offering. The company plans to expand its U.S. headquarters in Virginia and add offices in New York, Florida and California.

Gigpro: $16 million

Gigpro, a hospitality workforce marketplace, has raised $16 million in a Series A round. Foundry led the round, with support from Stage 1 Ventures, Stage 2 Capital, and Detroit Venture Partners.

South Carolina-based Gigpro connects freelance workers with hotels, restaurants, caterers and event companies. Companies can post shifts on the app, and workers can search and apply for positions that match their interests. Average hourly pay starts at $17, the company said.

Gigpro says it has helped fill more than 350,000 shifts for more than 9,000 companies. It operates in 28 U.S. cities, with plans to expand. The funds will also go toward strengthening the platform.

Holisto: $10 million

Hotel aggregator Holisto has raised $10 million from Trivago for a 30% stake in the company. Trivago said it has an option to buy the remaining 70% of the company within 15 months for a maximum price of $60 million.

Connecticut-based Holisto says it uses machine learning to find and combine multiple hotel reservations during a single stay, with the goal of giving users the lowest possible price. (Read Skift’s article.)

Portion: $7.5 million

Slice, a vacation installment service, raised $7.5 million in a seed round. Peak XV Partners led the round. The startup also secured $10 million in debt from Roadnight Capital.

Australia’s Slice lets users book a trip with a deposit, then make up to 26 weekly payments, interest-free, before they travel. It’s the opposite of the buy-now-pay-later model, the company says, designed as an alternative to getting into debt for a vacation.

The startup also sells the product to travel agents, who can then market the service to customers. The funding will go toward product development and expanding the offering.

Lovetovisit: $4.1 million

Lovetovisit, an attractions and events booking platform, has raised $4.1 million (£3.2 million).

The round was led by Venrex and Redrice Ventures, with support from Active Partners, Velocity Partners and a group of angel investors.

UK-based Lovetovisit lists over 2,700 products – including theatre shows, city attractions, events and festivals – 80% of which are sold exclusively. The app includes AI-powered recommendations and interactive maps to see what’s happening near you.

The startup said it had generated revenue of $9.5m (£7.4m) from more than 3.2m users.

The funds will be used to grow the business in the UK and internationally, with plans to double growth and increase stock levels each year for the next three years.

Business	Stage	Lead	To raise
Bilt Awards	Indefinite	Development of the Teaching Enterprise	150 million dollars
Myne	Series A	Limestone Capital AG	$43.7 million
Faye	B-Series	Carriage	$31 million
Gigpro	Series A	Foundry	16 million dollars
Holistic	Indefinite	Trivago	10 million dollars
Slice	Seed	Peak XV Partners	$7.5 million
Lovetovisit	Indefinite	Venrex and Redrice Ventures	$4.1 million

Skift Cheat Sheet

Seed Capital is money used to start a business, often run by business angel investors and friends or family.

Series A The funding is typically raised from venture capitalists. The round is intended to help startup founders make sure their product is something customers actually want to buy.

B-Series financing is mainly for venture capitalist firms helping the company grow faster. These rounds of fundraising can help recruit skilled workers and develop profitable marketing.

C Series financing usually involves helping a company expand, such as through acquisitions. In addition to VCs, hedge funds, investment banks, and private equity firms often participate.

Series D, E and beyond These are mostly mature businesses and a round of financing can help a company prepare for an IPO or acquisition. Different types of private investors can participate.