Bilt is moving past its housing-first niche by agreeing to purchase Lava for $300 million. The New York-based fintech built its name on a trademark credit card, then broadened into a platform centered on loyalty programs where users earn points for paying rent or a mortgage.
Lava's software helps partners track and analyze loyalty activity and then turn those insights into revenue. A Monday statement said the company works with more than 50 professional sports franchises, including the Carolina Hurricanes and the Denver Nuggets.
Bilt plans to lean into team devotion as it pushes into sports, aiming to connect fans with its broader neighborhood-focused ecosystem. "We think there's a really exciting way to start connecting sports loyalty and sports fandom into this neighborhood platform, both, by the way, from connecting our own housing residents into sports experiences, but also connecting sports fans into the neighborhood," Bilt Chief Executive Officer Ankur Jain said. From the seller's side, Lava founder and Sacramento Kings owner Vivek Ranadivé added, "Lava joining Bilt will help our partners turn sports fandom into a neighborhood economy that works for fans, teams and local businesses every day."
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The play is about more transactions flowing through Bilt's loyalty rails. The company already works with landlords and mortgage firms to handle housing payments, and it also collaborates across the broader commerce landscape - spanning retail stores, hotel operators, and a range of other local businesses - to spur and reward customer spending. Adding sports franchises broadens those touchpoints and deepens engagement, which is the engine that powers loyalty economics. Last year's funding round put Bilt at a $10.8 billion valuation, and this deal signals a push to link housing and everyday commerce with sports-driven fandom at scale.
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