Overview of Transaction

• On July 10, 2025, Bilt announced it has raised $250 million in new primary funding at a valuation of $10.75 billion
• The round was led by General Catalyst and GID with participation from United Wholesale Mortgage
• United Wholesale Mortgage invested $100 million as part of a new strategic partnership that will allow Bilt to expand into mortgage through direct partnerships with mortgage servicers, to revolutionize the mortgage experience from origination through servicing on to loyalty
• 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
• Launched in June 2021, Bilt boasts one of the highest value rewards programs on the market today
• Bilt's network of homes has now signed 1-in-4 apartment buildings across the United States, partnered with over 40,000 merchants nationwide

Significance of Transaction

• The new funding and valuation reflect the momentum the Company has built since its launch; Bilt expects to reach $1 billion in revenue by Q1 2026 and expects to process more than $100 billion annually in housing spend by the end of 2025
• Additionally, the funding round accelerates Bilt’s expansion across the entire housing ecosystem, including expanding into condos and HOAs, student housing, and mortgage

FT Partners' Role

• FT Partners served as financial advisor to Bilt on this transaction
• This transaction highlights FT Partners’ domain expertise in the payments and rewards space, along with its successful track record generating highly favorable outcomes for high-growth, unicorn FinTech companies