- Bilt is acquiring travel commission platform Sion for $30 million, marking the company’s second acquisition in less than a year.
- Bilt expects that the deal will strengthen its travel rewards offering.
- Integrating Sion’s technology will help Bilt connect travel advisors to its hospitality platform, helping members book travel experiences while creating a more differentiated rewards program.
Loyalty platform Bilt has acquired commission management platform Sion for $30 million to strengthen its travel rewards. Today’s acquisition marks Bilt’s second acquisition in under a year.
Founded in 2018, Sion offers commission reconciliation for travel agencies. The New Jersey-based company manages more than $7 billion in travel booking revenue, helping more than 8,000 travel advisors get paid faster and operate more efficiently.
“Travel businesses don’t need another intermediary trying to compete with them,” said Sion Co-Founder Irving Betesh. “They need modern infrastructure and software that solves real operational problems. Sion has built a best-in-class experience around one of the biggest pain points in travel, commissions. We’re excited to join the Bilt team, allowing us to further accelerate what we can deliver for travel businesses and advisors serving travelers around the world.”
Bilt will leverage Sion’s technology and team to further extend its hospitality platform to travel advisors which will be used to build a network of advisors who can deliver travel experiences for Bilt Members. The company said that buying the commission reconciliation platform helps Bilt build a hospitality platform that offers a more robust rewards experience for cardholders. What started with housing payments and neighborhood services now extends to travel.
Through Sion, travel advisors will be able to leverage Bilt’s platform to manage their workflows, serve clients, and grow their businesses. Advisors will also have access to commission reconciliation and tracking, invoice follow-up automation, and new tools for managing bookings and payments more efficiently.
“Bilt’s hospitality platform already helps properties and merchants deliver their best customer experience, and with Sion, we’re extending that to travel advisors,” said Bilt Founder and CEO Ankur Jain. “By giving travel advisors the tools to run their entire business more effectively, we’re building a network of the world’s best travel advisors, and our members benefit from that. This is what building a membership truly centered around where you live looks like.”
As the popularity of embedded banking rises, so does competitive pressure in the space. Loyalty platforms are evolving beyond simple credit card points programs into robust ecosystems that influence how consumers book, shop, and experience services. By bringing travel advisor infrastructure into its platform, Bilt is positioning itself to play a larger role in how its members plan for and purchase travel, which ultimately creates a more differentiated and sticky rewards experience.
Once the acquisition closes, Sion will operate independently under the leadership of its co-founders. The company will maintain its existing clients and services.
Bilt was founded in 2021 to offer a loyalty rewards program and credit card that allows renters to earn points when they pay their rent, building credit with every payment. With no annual fee, the Bilt Mastercard credit card also allows cardholders to earn points on select dining experiences, rideshare purchases, and travel purchases. These points can be redeemed for travel, fitness classes, home decor, and even a down payment on a future home.
Photo by Jessica Bryant
Views: 27
