NYC-based point.me, the points and travel reward search platform has raised $15 million in Series B round led by Nyca Partners and Citi Ventures, with participation from Brian Kelly (founder of The Points Guy), Samsung Next, RiverPark Ventures, Four Cities Capital, MoreThan Capital, as well as Meta executives (Kay2Ventures and Morgan Rose) and the co-founder of ITA Software (Google Flights). Thayer Ventures and PAR Capital Ventures have also joined the Series B round.
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The Series B investment will support point.me’s service expansion and enterprise growth, solidifying its standing as the industry leader in point, mile, and travel reward technologies. Point.me has experienced exponential growth, as evidenced by surpassing 18 million user searches, growing its registered user base by 1021%, and growing its monthly recurring revenue by 378% since its Series A funding. Following the successful completion of a $2 million seed fundraising round in 2021, the company raised $10 million in Series A financing in 2022.
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“I am grateful for the support for our vision from our new and existing investors. Their vote of confidence demonstrates both consumer and market interest in cutting-edge technology at the intersection of personal finance and meaningful travel rewards,” said Adam Morvitz, Founder & CEO of point.me. “We are delighted to be entrusted by leading banks and credit card companies as a unique opportunity for them to enhance their travel rewards.”
Stephanie Khoo, Partner at Nyca Partners said: “We have had an investing thesis around rewards for some time and were thrilled to find the right team, product and traction in point.me. The founding team’s deep knowledge of the rewards and travel space is complemented nicely by a top-notch technical team that delivers an elegant solution to what was previously a painfully manual process to categorically search award inventory across airlines carriers. Now, all travel enthusiasts can more easily answer these questions: firstly, should I use points or cash? And secondly, which points are the most optimal?”
Luis Valdich, Head of FinTech Investing, Citi Ventures said: “As active investors in Travel & Entertainment, a key vertical for card spend, we at Citi Ventures immediately got point.me’s problem statement and were drawn to Adam’s strong founder-product fit, contagious energy, and vision of building the world’s first travel rewards marketplace in close collaboration with the industry. We are excited to co-lead point.me’s series B raise and be part of their journey.”
Brian Kelly, Founder, The Points Guy said: “I have dedicated my career to helping consumers get the most value from their rewards. I’m honored to invest in point.me and look forward to this next phase of growth of the company and the billions of dollars of value it will put back into consumer’s wallets and allow people to travel the world in ways they never thought possible.”
About point.me
Founded in 2022 by Adam Morvitz and Tiffany Funk, point.me is a real-time search and booking engine that makes it easy to book flights with points. With point.me, you can not only compare all your points and miles options in the same simple format you’re used to seeing for paid flights, you can also see step-by-step guides and videos on exactly how to choose the best deal, transfer your points, and book your reward flight across dozens of frequent flyer programs. Need more help or prefer to leave the hassle to someone else? Our expert team of concierge agents can handle everything for you – from transfer to ticketing.
