HeyMax, a loyalty and travel rewards platform based in Singapore, has made its first acquisition by buying Hong Kong fintech startup Krip. This move is part of HeyMax’s plan to grow in the region.
As part of the deal, the Krip brand will be phased out. Krip’s CEO and founder, David B. Wang, will join HeyMax as Global Head of Loyalty Partnerships and General Manager for Hong Kong. He will lead the local strategy and help with global growth. Benjamin Quinlan, Krip’s former Chairman and CEO of Quinlan & Associates, will also join HeyMax as Senior Advisor for Financial Services Partnerships.
With this deal, HeyMax will gain access to Krip’s network of over 6,000 credit card offers from 3,000 merchants. This will help HeyMax offer more personalized rewards and loyalty deals, especially in Hong Kong.
The acquisition strengthens HeyMax presence in the financial and travel space and sets the foundation for more regional partnerships in the future.
“Travel is a deeply emotional aspiration, and we believe it should be more accessible through everyday actions,” said Joe Lu, CEO and co-founder of HeyMax in a statement. “Krip’s deep market knowledge and strong institutional relationships make them the ideal partner to help us scale that vision.”
HeyMax, a platform that lets users earn “Max Miles” by shopping with over 500 merchants and redeem them for flights, hotels, and gift cards, is expanding into a key market with this move. Krip users will be welcomed into the HeyMax platform with free Max Miles and early access to new features.
HeyMax is also launching a waitlist for users in Hong Kong. Those who sign up early will get special rewards and first access to new offerings. With a stronger leadership team and better regional support, HeyMax plans to grow its loyalty and travel services in more Asian markets over the next year.
Major investors back the company like January Capital, Monk’s Hill Ventures, Tenity, Ascend Angels, and XA Network.
Krip, founded in 2022, created Hong Kong’s first central credit card rewards platform. It partnered with banks like livi Bank and Grantit, helping users get the most from their cards and supporting an estimated US$7.4 billion in extra yearly card spending.
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