SINGAPORE, Jan. 28, 2026 /PRNewswire/ — HeyMax, a leading loyalty and travel rewards platform headquartered in Singapore, today announced 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.
Additional investors include Rob Rosenstein, Co-founder and Chairman of Agoda, and David Lee, fintech advisor, independent bank director, and former President of Visa APAC.
Founded in 2023, HeyMax is a Singapore-based platform that accelerates and unifies loyalty and travel rewards, allowing consumers to earn and redeem value seamlessly across brands, cards, and airlines and hotels through its flagship currency, Max Miles. The new capital will accelerate HeyMax’s product capabilities focusing on AI-empowered rewards experience simplifying earning and redemption for consumers. Apart from Singapore and Hong Kong SAR, HeyMax will expand its presence into Japan, Taiwan region, 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.”
This funding demonstrates confidence in the travel loyalty segment evidenced by record travel demand and a growing appetite among Asia’s consumers for more better value travel. Research and Markets projects that the Asia-Pacific loyalty market will almost double to US$60 billion by 2029, underscoring the region’s rapid shift toward digital and travel-linked rewards. At the same time, IATA data shows Asia-Pacific passenger traffic now exceeds 120% of 2019 levels, while over 75% of consumers are enrolled in at least one loyalty programme. Yet, billions of dollars in rewards go unredeemed each year.
In Asia’s fragmented loyalty landscape, consumers juggle multiple programmes with limited cross-border utility, making it difficult to build meaningful value from rewards. This also limits how merchants and travel partners engage both their local customers and inbound travellers. HeyMax addresses these pain points by unifying how consumers earn and redeem rewards across markets through its core 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 them to more than 30 airline and hotel programmes, such as Cathay, ALL Accor, and Qatar Airways.
HeyMax‘s key functions include:
- Max Miles – HeyMax’s flagship rewards currency that connects multiple loyalty and merchant programmes within one platform, enabling users to redeem with greater flexibility.
- FlyAnywhere – HeyMax’s redemption feature that enables booking on nearly any airline at a fixed rate per mile.
- Card Maximiser – a tool that simplifies earning by automatically helping users choose the most rewarding Visa card, even without opening the app.
Together, these capabilities are designed to make reward systems more interoperable and to simplify and significantly accelerate how consumers earn and use travel rewards across markets.
“Loyalty programs were designed to influence consumer behaviour towards their favourite airlines, hotels, or retailers. But today, a majority of these programs suffer from low engagement and have merely become a tool to collect customer information, resulting in no real loyalty. HeyMax is leveraging technology and reward loops to increase engagement and consumption for the world’s best brands. More than 40% of the total card revenues, totalling over US$100 billion globally, is spent on loyalty and consumer rewards – this is HeyMax’s opportunity,” said Rohit Agarwal, Managing Director at 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 grown to over 150,000 users and has issued more than 500 million Max Miles annually.
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, it reported fivefold Y-o-Y revenue growth and an annualised revenue run rate of US$6 million, underscoring regional demand for connected and rewarding travel experiences. HeyMax also targets strong triple-digit annual GMV growth over the next two years.
Media Kit
The media kit for this announcement can be found here.
About HeyMax
HeyMax is a leading loyalty and travel rewards platform that turns 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 accelerate access to travel and make it more rewarding for everyone by turning the things you already do into free trips, year after year.
Users earn Max Miles from over 800 top merchants globally and redeem them directly for over 30 flights, hotels, and rewards programs, or use them for gift cards. Max Miles never expire, come with no fees, and offer unmatched 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 Peak XV
Peak XV Partners (formerly Sequoia Capital India & SEA) is a leading venture capital firm investing across India, Southeast Asia and beyond. Over the last 19 years of operations in the region, Peak XV has grown to manage approximately USD 9 billion in capital across 13 funds and invested in over 400 companies. The portfolio has seen 33 IPOs and several successful M&As till date. To know more, please visit: www.peakxv.com.
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