Points and Cash Back: The Rise of Loyalty Programs in Multifamily

And where today's acquisition news will take the future of the category

Renter rewards and loyalty programs are one of the few bright spots in multifamily tech today. Late last year, Bilt Rewards raised $200 million at a $3.1 billion valuation, a deal reminiscent of headier times a few years back.

Of course, Bilt isn’t the only player in this space. Rental payment platforms Zego and Domuso offer rewards programs, as does Piñata and cash-back focused Stake. And today, Stake announced its acquisition of delinquency management and collections platform Circa, adding a new wrinkle to a fast-moving category.

Today’s letter will dig into the emerging world of rental rewards and loyalty, exploring:

• The rise of loyalty and rewards programs in hospitality and travel;

• Loyalty, rewards, and payments in multifamily;

• Stake and its acquisition of Circa;

• The role of property management systems;

• What this all means for the future of banking.