Point.me Financial Model

• Aggregated search across 30+ credit card and airline reward programs, 150+ airlines
• Self-serve tool: users find cheapest award redemption in one search vs. manually checking each airline portal
• JAMES Concierge: 55+ points experts do the search and booking end-to-end for high-touch clients
• Key value claim: typical consumer gets $0.01/point; point.me customers average $0.06–$0.12/point - 6–12x uplift
• Illustrative example: NYC→Maldives business class costs 493,080 pts via Amex Travel vs. 70,000 pts via point.me (savings of ~423,000 pts / ~$5,000)
• White-label / co-brand integrations for card issuers
• B2B employee travel program (corporate books business/first class with points, saving cash travel budgets)
• Affiliate channel: travel agencies (200+ advisor firms) reselling concierge

• $48B USD in points & miles issued annually
• $16B USD in points & miles unredeemed annually
• ~10 trillion points & miles in circulation, estimated value $165B USD
• "Frequent flyer miles are likely the second largest currency in the world. Larger than Bitcoin." - The Economist
• No explicit TAM/SAM/SOM slide or market-growth CAGR in deck. Market sizing is presented as loyalty currency stock, not addressable revenue to point.me.

Four revenue streams identified:

1. Consumer subscription - self-serve platform access (subscription tier implied; pricing not shown in deck)
2. Concierge fees - JAMES Concierge white-glove booking service; revenue described as "$2M in revenue" from concierge; fee structure (flat fee per booking vs. % of savings) not specified
3. White-label / co-brand integrations - licensing/API access sold to card issuers (~1M targeted members per deal referenced); deal economics not disclosed
4. B2B corporate travel - discounted subscription + concierge pricing to enterprises and consultancies
5. Affiliate - revenue share with travel agencies for concierge referrals

Note: Deck does not break out revenue by stream or show pricing schedules.

• 26,000+ subscribers signed up with no marketing
• $2M in total revenue (consumer services, primarily concierge)
• 4.3% churn (subscriber churn; period not specified)
• Paid marketing launching in 2023 (deck appears to be from ~late 2022)
• White-label: 6-month co-brand deal with "major card issuer" reached ~1M targeted cardholders; "highest engagement, conversion, and NPS scores of any partnership in the last five years" for that issuer - no numeric KPIs disclosed
• New co-brand partnership signed (name undisclosed)
• Affiliate: onboarding new travel agency partners weekly; concierge revenue "rising above pre-pandemic highs"
• B2B: two US tech companies signed; one large consultancy - no ARR figures
• Media coverage: NYT, Forbes, Bloomberg, WSJ, Condé Nast Traveler, TechCrunch, GMA, Business Insider, Washington Post

• Average value per point for point.me customers: $0.06–$0.12 vs. $0.01 industry baseline
• Churn: 4.3% (period unspecified - assumed monthly given SaaS context)

Competitors not named explicitly; moat framed as three interlocking assets:

• Knowledge & business logic: proprietary rules/algorithms for parsing redemption rules across all programs
• Relationships & reputation: team has longstanding ties to major card issuers and airlines; key for partnership deals
• Technology & product: real-time award search + quality control + UX

Implicit competitive threat from: award-search blogs/tools (The Points Guy, AwardHacker, ExpertFlyer), airline own portals, and potential in-house builds by card issuers.

Team:

• Adam Morvitz - CEO & Founder
• Tiffany Funk - President & Co-Founder
• Sanjay Sharma - Head of Product
• Lewis Hall - Head of Engineering
• Jordan Rozum - Director, Product Development
• Gilbert Ott - Lead, Strategic Partnerships
• Ngozi Nkwoji - Director, Growth
• Jimmy Yoon - Director, Client Services
• 55+ concierge experts

Funding:

• $2M seed raised
• Investors: PAR Capital, Google Flights / ITA Software Founders, WndrCo / Jeffrey Katzenberg / Sujay Jaswa, Gaingels, Chantal Noble Haldorsen (Certares), Ron Levin (Yard Ventures / Alumni Ventures)

• Archetype + why: Multi-stream consumer SaaS + marketplace/concierge P&L. The business has a recurring subscription base (SaaS ARR logic for self-serve) layered with a high-margin transactional concierge revenue line, plus B2B/white-label deal revenue. A 3-statement model is overkill at seed; a detailed revenue-build + P&L with scenario analysis is appropriate.

• Forecast horizon & granularity: Monthly for Year 1–2, quarterly for Year 3. 3-year total horizon is standard at seed stage for this type of raise.

• Key drivers & assumptions:

*Subscriber base*

• Starting subscribers: 26,000
• Monthly new subscriber adds (organic): ~1,500/month pre-paid-marketing, scaling with paid spend from 2023
• Monthly churn rate: 4.3%; this is monthly churn given SaaS framing
• Monthly subscription price: $9–$19/month (typical for award-search SaaS; not in deck)
• Paid marketing start: 2023; CAC $30–$60 given B2C fintech/travel comps

*Concierge*

• Revenue to date: $2M
• Concierge bookings per month: derived from revenue run-rate; pricing per booking not disclosed
• Concierge fee per booking: $150–$500 flat or % of points-value-saved; sensitivity required
• Concierge team headcount: 55+ experts; assumed variable with booking volume
• Margin: 50–70% gross after labor (concierge staff)

*White-label / B2B*

• Deal 1: ~1M targeted card members, 6-month pilot; annual contract value $500K–$2M (range; no deal economics disclosed)
• B2B corporate: 2 tech companies + 1 consultancy; deal values $50K–$200K ARR each
• Pipeline conversion: 1–2 new enterprise/white-label deals per year in base case

*Affiliate*

• Revenue share per concierge booking sourced via agency: 15–25% of concierge fee
• Partner agencies: weekly onboarding implied; ramp

*Cost structure*

• Concierge staff (55+): largest OpEx item; $50–$80K fully-loaded per expert
• Engineering & product (headcount per slide 14): 10–15 engineers at $150K blended
• G&A, marketing: standard startup ratios

• Scenarios (Base / Bull / Bear - which variables flex):
• Base: Organic subscriber growth ~1,500/mo, paid marketing kicks in mid-2023 driving 3,000–5,000 net adds/mo; 1 new white-label deal/year; churn holds at 4.3%/mo
• Bull: Paid marketing succeeds, CAC <$30; churn improves to 2–3% with product improvements; 2 white-label deals/year at higher ACV; concierge scales to $5M+ ARR
• Bear: Paid marketing underperforms; CAC >$80; churn worsens to 6%+; white-label deals delayed; concierge capacity constrained

• Required sheets / outputs:

1. Assumptions dashboard (all tagged drivers in one place)
2. Subscriber cohort model (monthly adds, churn, ending subscribers, subscription MRR)
3. Concierge revenue build (bookings/month × fee × margin)
4. B2B / white-label deal tracker (deal count × ACV)
5. Affiliate revenue (% of concierge from affiliate channel)
6. Consolidated P&L (revenue by stream, gross margin by stream, blended gross margin, OpEx, EBITDA)
7. Headcount plan (concierge staff variable with volume; fixed eng/product/G&A)
8. Cash & runway (cash from seed, monthly burn, months to breakeven)
9. Scenario toggle (Base / Bull / Bear)