Ankur Jain's trajectory from being recognised on Forbes' 30 Under 30 list to ascending the ranks to become a billionaire happened in under a decade. Central to this ascent is Jain's startup, Bilt, which has redefined the dynamics of rental payments, transforming them from expenses into rewarding opportunities for renters across the country.
Jain, 34, first garnered attention as a cofounder of Humin, an app revolutionising phone contact management through contextual search capabilities. His entrepreneurial acumen was further highlighted by the acquisition of Humin by Tinder in 2016, followed by a role as vice president of product at Tinder.
It was during this tenure that Jain's focus on enhancing user experiences and leveraging technology to address consumer pain points crystalised, ultimately leading him to launch Bilt in 2019.
Unlike traditional rental payment systems, Bilt introduces a new concept—rewarding renters with significant points and contributing positively to their credit scores when they pay rent using Bilt's credit card. What sets Bilt apart is its commitment to eliminating the transaction fees that typically burden renters.
Over the past five years, Bilt has rapidly expanded its footprint, captivating the interest of renters nationwide and forging partnerships with property owners overseeing more than 4 million rentals, spanning apartments and single-family homes. The allure of Bilt extends beyond rent payment rewards, with an array of partners that include major airlines, hotel chains, gyms, and restaurants.
The success of Bilt has been further underscored by substantial funding, with a recent round in January securing $200 million, bringing Bilt’s total funding to an impressive $413 million and valuing the company at $3.1 billion.
This valuation has not only solidified Bilt's position as a key player in the fintech landscape but has also catapulted Ankur Jain onto this year's Forbes Billionaires List, with his 36% stake in the company reflecting an estimated net worth of $1.2 billion.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
