SINGAPORE, January 28, 2026 /PRNewswire/ — HeyMax, a leading travel loyalty and rewards platform headquartered in Singapore, today announced that it has raised US$11 million in a Series A round led by Peak XV Partners. The round also attracted strategic investor Betatron Venture Group, with continued support from existing backers January Capital and Tenity.
Other investors include Rob Rosenstein, co-founder and chairman of Agoda, and David Lee, fintech advisor, independent banking executive and former chairman of Visa APAC.
Founded in 2023, HeyMax is a Singapore-based platform that accelerates and unifies loyalty and travel rewards, enabling consumers to earn and exchange value seamlessly across brands, cards, airlines and hotels via its flagship currency, Max Miles. The new capital will accelerate HeyMax product capabilities by focusing on the AI-driven rewards experience, simplifying earning and redeeming for consumers. Except Singapore and Hong Kong DASHeyMax will expand its presence in Japan and Taiwan regionand Australia by the end of 2026.
“In the Asia-Pacific region, travel is increasingly shaping the way people spend and save, but the rewards remain fragmented across markets,” said Joe Lu, CEO and co-founder of HeyMax. “HeyMax unifies earning and redemption across borders so frequent travelers can more easily capture value in a universal travel wallet enabling our customers to travel better and faster. It also gives our partners a more efficient and engaged way to reach travelers and tap into the growing flow of travel spending and loyalty across the region. This funding helps us accelerate how consumers earn and redeem travel rewards, scale our platform and deepen partnerships.
This funding demonstrates confidence in the travel loyalty segment, as evidenced by record demand for travel and a growing appetite among Asian consumers for ever more value-added travel. Research and Markets predicts that the loyalty market in Asia Pacific will nearly double to $60 billion by 2029, highlighting the region’s rapid shift toward digital and travel-related rewards. At the same time, IATA data shows that passenger traffic in the Asia-Pacific region now exceeds 120% of 2019 levels, while more than 75% of consumers are enrolled in at least one loyalty program. Yet billions of dollars in rewards go unredeemed every year.
In Asia’s fragmented loyalty landscape, consumers are juggling multiple programs with limited cross-border utility, making it difficult to create meaningful value from rewards. It also limits how merchants and travel partners engage both their local customers and inbound travelers. HeyMax solves these problems by unifying how consumers earn and redeem rewards on marketplaces through its primary currency, Max Miles.
Users can earn Max Miles when they shop with over 800 participating brands and merchants, such as Trip.com, Shopee, Starbucks and foodpanda, and redeem them for flights, gift cards, or transfer to over 30 airline and hotel programs, such as Cathay, ALL Accor and Qatar Airways.
Hi Max‘Key functions include:
- Maximum miles – HeyMax’s flagship rewards currency that connects multiple loyalty and merchant programs within a single platform, allowing users to trade with greater flexibility.
- Fly anywhere – HeyMax’s redemption feature that allows you to book on almost any airline at a fixed rate per mile.
- Card Maximizer – a tool that simplifies earning by automatically helping users choose the most attractive Visa card, even without opening the application.
Together, these capabilities are designed to make rewards systems more interoperable and to significantly simplify and accelerate how consumers earn and redeem travel rewards across markets.
“Loyalty programs were designed to influence consumer behavior towards their favorite airlines, hotels or retailers. But today, the majority of these programs suffer from low engagement and have become simply a tool to collect customer information, resulting in no true loyalty. HeyMax leverages technology and rewards loops to increase engagement and consumption of the world’s best brands. More than 40% of total card revenue, totaling over US$100 billion worldwide, are spent on consumer loyalty and rewards – that’s the focus of HeyMax opportunity,” said Rohit Agarwal, Managing Director, Peak XV.
Founded by four former Meta engineers, HeyMax combines deep product expertise with a regional understanding of how consumers engage with rewards and travel across Asia. Since its US$2.7 million seed round in July 2024, the company has over 150,000 users and has issued over 500 million Max Miles per year.
In 2025, HeyMax achieved two major milestones: the acquisition of Hong Kong-based fintech krip and its entry into Hong Kong as the company’s first international market. Earlier last year, the company reported five-fold revenue growth and an annualized revenue run rate of US$6 million, highlighting regional demand for connected and enriching travel experiences. HeyMax is also targeting strong triple-digit annual GMV growth over the next two years.
Media kit
The media kit for this announcement is available here.
About HeyMax
HeyMax is a leading travel loyalty and rewards platform that transforms everyday spending into meaningful travel, headquartered in Singapore. HeyMax is on a mission to bring more joy and empathy to the world through travel. Our vision is to make travel faster and more rewarding for everyone by turning the things you already do into free travel, year after year.
Users earn Max Miles from over 800 major merchants around the world and redeem them directly for over 30 flights, hotels and rewards programs, or use them for gift cards. Max Miles never expire, have no fees, and provide unparalleled flexibility for modern travelers.
HeyMax is backed by leading investors including Peak XV Partners, January Capital, Betatron and Tenity. For more information, please visit www.heymax.ai.
About Pic XV
Peak XV Partners (formerly Sequoia Capital India & SEA) is a leading venture capital firm investing in India, Southeast Asia and beyond. Over the past 19 years of operation in the region, Peak XV has grown to manage approximately $9 billion in capital across 13 funds and has invested in more than 400 companies. The portfolio has seen 33 IPOs and several successful mergers and acquisitions so far. To learn more, please visit: www.peakxv.com.
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