New York, 19 September 2024 – Point.me, an innovative travel rewards search platform founded in 2022, has successfully raised $15 million in Series B funding. The investment round was spearheaded by Nyca Partners and Citi Ventures, with additional participation from Samsung Next, RiverPark Ventures, Four Cities Capital, and MoreThan Capital. The funding also saw involvement from Meta executives and the co-founder of ITA Software (Google Flights), as well as previous investors Thayer Ventures and PAR Capital Ventures.
Recognized as a PhocusWire Hot 25 Startup for 2024, Point.me has reported significant growth over the past year, including new partnerships with American Express and Bilt Rewards. The company’s founder and CEO, Adam Morvitz, expressed gratitude for the backing, noting, “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.”
The recent Series B investment is expected to further bolster Point.me’s enterprise growth and facilitate the expansion of its services. Luis Valdich, head of fintech investing at Citi Ventures, highlighted the firm’s enthusiasm for the investment, stating, “As active investors in travel and entertainment, a key vertical for card spend, we at Citi Ventures immediately understood Point.me’s problem statement. We 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.”
Point.me, which previously secured $10 million in Series A funding last year, has surpassed 18 million user searches to date, underscoring its growing influence in the travel rewards sector.
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