Point.Me, a travel reward search platform, has raised $15M in a Series B funding round, led by Nyca Partners and Citi Ventures. This round also included notable investors such as Brian Kelly, founder of The Points Guy, and executives from Samsung Next and Meta. The new funds bring the company’s total funding to $27M, and will be used to drive growth in the intersection of personal finance and travel rewards.

This latest funding round follows the company’s strong year of growth, during which Point.Me formed strategic enterprise partnerships with major financial institutions like American Express and Bilt Rewards. These collaborations have propelled the platform into the spotlight, earning it recognition from Fast Company as one of the ‘Most Innovative Companies’ of 2024. In addition to its enterprise growth, the platform saw a remarkable increase in user engagement, with registered users growing by over 1000%, alongside a 378% boost in monthly recurring revenue.

A Game-Changer for Travel Rewards

Point.Me’s proprietary technology addresses a significant pain point in the world of travel rewards. Traditionally, searching for award travel using points and miles has been a cumbersome and time-consuming process. Many frequent travelers struggle with the complexity of comparing various loyalty programs, determining which points offer the best value, and finding availability on desired flights, particularly in premium cabins. Point.Me changes this by automating the search process through its platform, which aggregates information from over 150 airlines and more than 30 loyalty programs. This allows users to quickly and easily discover the best flight deals using points, whether they are looking to book economy, business, or first-class tickets.

The platform’s proprietary algorithm, combined with an intuitive interface, enables users to filter search results based on their preferred airlines, routes, loyalty programs, and account balances. For many, this removes the frustration of manually sifting through loyalty program websites and comparing different airlines. Point.Me also provides detailed guidance on how to book reward flights and optimize the use of points, ensuring that travelers maximize the value of their rewards.

CEO Adam Morvitz shared his vision for Point.Me, stating, “We aim to bridge the gap between personal finance and travel rewards. With this latest round of funding, we are thrilled to expand our capabilities and further solidify our position as a unique player in this space. Our platform not only helps users save money on travel but also ensures they are making the most out of their points and miles.”

Strong Investor Confidence

The Series B funding round reflects the growing confidence investors have in Point.Me’s potential to revolutionize the travel rewards landscape. Nyca Partners and Citi Ventures, both of whom have a history of investing in highly successful fintech and travel startups, see significant potential in Point.Me’s approach to travel rewards technology.

Stephanie Khoo, Partner at Nyca Partners, commented on the decision to invest in Point.Me, saying, “We’ve been watching the evolution of travel rewards for some time and were impressed with the product that Point.Me has built. Their deep understanding of the rewards space, combined with a stellar technical team, provides a compelling solution to what has long been a frustrating and complicated process for travelers. Now, anyone can easily determine whether it makes sense to use points or cash, and which points offer the most value for a particular flight.”

Luis Valdich, Head of FinTech Investing at Citi Ventures, added, “As active investors in the travel and entertainment sectors, we were immediately drawn to Point.Me’s unique solution. Adam and his team have built a product that not only resonates with consumers but also has tremendous potential for partnerships with major financial institutions. We are excited to co-lead this Series B and look forward to seeing how Point.Me continues to innovate.”

Brian Kelly, founder of The Points Guy and a well-known expert in the travel rewards space, also joined the Series B round as an investor. Kelly expressed his enthusiasm for Point.Me’s future, saying, “I’ve dedicated my career to helping consumers unlock the value of their points and miles, and Point.Me is doing exactly that. Their platform is making it easier for people to travel the world in ways they never thought possible. I’m proud to be part of their journey.”

Growth Trajectory and Future Plans

Point.Me’s success has been fueled by its enterprise partnerships and product innovation. The company has worked closely with leading financial services firms like American Express to enhance their travel rewards offerings. Earlier this year, Point.Me launched a groundbreaking partnership with Amex, allowing U.S. cardmembers to search for flights using Membership Rewards Points through a white-labeled version of the platform. This partnership has been a major driver of growth for Point.Me, as it integrates directly into one of the most popular loyalty programs in the U.S.

In addition to the American Express partnership, Point.Me has also collaborated with Bilt Rewards, a loyalty program for renters, further broadening its reach in the market. The platform is designed to be scalable, and with the new funding, Point.Me plans to expand its services to support even more loyalty programs and airlines, enabling users to search for award availability across a wider range of travel options.

Point.Me’s continued success is a testament to the growing importance of points and miles in personal finance. As more consumers become savvy about using rewards to offset travel costs, platforms like Point.Me are uniquely positioned to capitalize on this trend.

The $15M Series B investment will be used to fuel Point.Me’s expansion efforts, with plans to enhance the platform’s functionality, improve user experience, and further grow its user base. The company also aims to deepen its enterprise partnerships and introduce new features that will allow users to better manage their travel rewards and make more informed decisions.

With over 18 million user searches to date and a strong track record of growth, Point.Me is well on its way to becoming the go-to platform for travelers looking to maximize the value of their points and miles. The Series B round marks a significant milestone in the company’s journey, setting the stage for continued innovation and expansion in the rapidly evolving travel rewards space.