This collaboration allows Bilt members to redeem Rakuten Cash Back for Bilt Points, the companies said in a Thursday (Nov. 6) press release.
Bilt members can earn Rakuten Cash Back while shopping Rakuten offers within the Bilt app or through Rakuten’s website, browser extension or app, according to the release. They can then redeem Rakuten Cash Back for Bilt Points.
“Starting right now, whether you’re furnishing your apartment, shopping for the holidays or checking items off your weekly to-do list, you’re earning points that can book you a flight to Tokyo, help to cover next month’s rent or unlock exclusive experiences,” Bilt Founder and CEO Ankur Jain said in the release.
Rakuten Rewards CEO Amit Patel said in the release that both companies believe that “rewards should provide tangible ways for people to reach their goals.”
“Now Rakuten members can redeem their Cash Back as Bilt Points — unlocking even more flexibility and redemption options while shopping at thousands of their favorite stores,” Patel said.
Bilt has made several other additions to its loyalty platform this year.
In October, the company partnered with the country’s largest mortgage lender, United Wholesale Mortgage, so that the lender’s loan customers can earn rewards on their on-time mortgage payments.
In April, Bilt expanded its rewards network to include student housing properties, beginning with those of its launch partner American Campus Communities (ACC).
Bilt also began allowing Bilt members to redeem their Bilt Point toward eligible student loan payments. The company said this offer would begin with student loans from five servicers and then expand to include more.
When Bilt raised $250 million in a July funding round that valued it at $10.75 billion, Jain said that the company generates a “flywheel effect.”
“More properties in our network attract more merchants, which creates more value for residents, which attracts more properties,” Jain said at the time in a letter to Bilt members. “This virtuous cycle, powered by our AI-driven commerce platform and comprehensive merchant integrations, creates an ecosystem that becomes stronger with each new participant.”
