HeyMax a Singapore-based loyalty and travel rewards platform, has raised US$11 million in Series A funding. The round was led by Peak XV Partners, with Betatron Venture Group joining as a strategic investor. Existing investors, January Capital and Tenity also continued their support.
The funding round also saw participation from notable individual investors, including Rob Rosenstein, Co-founder and Chairman of Agoda, and David Lee, a fintech advisor, independent bank director, and former President of Visa APAC.
Founded in 2023, HeyMax is a Singapore-based platform that makes loyalty and travel rewards simple. It allows users to earn and use rewards easily across different brands, credit cards, airlines, and hotels, using its own rewards currency, Max Miles.
The new funding will help HeyMax improve its product using AI, making it easier for users to earn and redeem rewards. The company also plans to expand beyond Singapore and Hong Kong into Japan, Taiwan, and Australia by the end of 2026.
“Across Asia-Pacific, travel increasingly shapes how people spend and save, yet rewards remain fragmented across markets,” said Joe Lu, CEO and Cofounder of HeyMax. “HeyMax unifies earning and redemption across borders so frequent travellers can capture value more easily into one universal travel wallet, allowing our customers to travel better and faster. This also gives our partners a stickier, higher-engagement way to reach travellers and tap into the growing flow of spending and loyalty tied to travel across the region. This funding helps us accelerate how consumers earn and redeem travel rewards, scale our platform, and deepen partnerships.”
HeyMax uses technology and reward programs to help top brands increase customer engagement and spending. According to Rohit Agarwal of Peak XV, over 40% of global card revenues—worth more than $100 billion—go toward loyalty and consumer rewards, creating a significant opportunity for HeyMax.
HeyMax was founded by four former Meta engineers. The team combines strong product-building skills with a deep understanding of how people in Asia use rewards and travel programs.
Since raising a US$2.7 million seed round in July 2024, HeyMax has grown quickly. The platform now has over 150,000 users and issues more than 500 million Max Miles every year.
In 2025, HeyMax reached two important milestones. It acquired Hong Kong-based fintech krip and expanded into Hong Kong marking its first international market. Earlier in the year, the company reported five times year-on-year revenue growth and an annual revenue run rate of US$6 million, showing strong demand in the region.
Looking ahead, HeyMax aims to achieve triple-digit annual growth in GMV over the next two years, as more consumers look for connected and rewarding travel experiences.
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