In a significant boost for the fintech landscape, point.me has announced the successful closure of a $15 million Series B funding round, a milestone underscoring its rapid ascent as a leading platform at the nexus of personal finance and travel rewards. This announcement was made today at the Skift Global Forum in New York, following an impressive year marked by strategic partnerships and notable accolades, including being named one of Fast Company’s “Most Innovative Companies” of 2024.
The Series B round was spearheaded by prominent investors Nyca Partners and Citi Ventures, both of which have established reputations for backing transformative startups such as Acorns, Hopper, and Plaid. Additional participation came from industry luminaries including Brian Kelly, founder of The Points Guy, Samsung Next, and several other notable venture capitalists and executives, reflecting a robust confidence in point.me’s innovative approach.
Adam Morvitz, Founder and CEO of point.me, expressed his gratitude for the overwhelming support, stating, “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.” This funding is particularly timely, given point.me’s groundbreaking partnership with American Express, which allows US Amex cardmembers to search for flights using Membership Rewards Points through a white-labeled version of point.me.
Stephanie Khoo, Partner at Nyca Partners, commented on the investment, saying, “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.”
The need for such a platform is increasingly critical as travelers navigate complex loyalty programs. With its proprietary algorithm that searches over 150 airlines, point.me simplifies the process of finding optimal flight deals and provides users with essential guidance for booking. This capability is attracting a burgeoning user base, evidenced by a staggering 1021% increase in registered users and a 378% growth in monthly recurring revenue since its Series A round.
As the travel industry evolves post-pandemic, point.me is well-positioned to lead the charge in integrating financial technology with consumer travel experiences. By leveraging the growing appetite for travel rewards and optimizing the way consumers use points, point.me not only enhances the value consumers derive from their loyalty programs but also potentially reshapes industry standards. The company’s commitment to delivering value to consumers is evident, with Brian Kelly noting, “I have dedicated my career to helping consumers get the most value from their rewards… I look forward to this next phase of growth.”
The $15 million investment will fuel further enterprise growth and service expansion, ensuring point.me’s standing as a pioneering technology company in the travel rewards sector. As the platform continues to grow, its impact on consumer travel experiences is likely to be profound, setting a new standard for how loyalty programs are utilized.
In summary, point.me is not just another startup; it is a transformative force in the travel industry that promises to optimize the travel experience for millions. With strong backing from esteemed investors and a visionary leadership team, the company is on a trajectory that could redefine how consumers engage with travel rewards, ultimately enriching their travel journeys. point.me.
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