Rewards and payments company Bilt has acquired commission management platform Sion in a $30 million deal.
Bilt, a membership platform that allows users to earn points on housing payments, said the acquisition will help it better provide travel rewards.
Sion’s software helps travel advisors and agencies with commission reconciliation. Following the acquisition, the company will continue to operate independently under co-founders Alfons Musry and Irving Betesh.
“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.”
Bilt said travel advisors will be able to use its platform to manage workflows and serve clients. Additionally, the companies are working together to improve commission reconciliation and tracking, automate invoice follow-up automation and add tools to better manage bookings and payments.
Musry said the move is meaningful both for the company and Sion customers.
“Excited to officially be joining the amazing team at Bilt. Travel has quickly become one of the most powerful ways Bilt Members use their rewards, and bringing Sion into the ecosystem will help strengthen that experience for both members and advisors,” Musry wrote on LinkedIn.
Phocuswright's Travel Marketing AI Summit
Hear from Kerry Chia, director of the travel platform at Bilt, at Phocuswright's upcoming Travel Marketing AI Summit in New York City. On March 24, the industry's leading marketers and technologists will convene to discuss the future of AI in travel.