HeyMax, a Singapore-based travel and loyalty platform, raised US$11m in a Series A round announced on 28 January 2026. Peak XV Partners led the round. Betatron Venture Group joined as a strategic investor, and existing backers January Capital and Tenity continued their support.
Individual investors included Rob Rosenstein, co-founder and chairman of Agoda, and David Lee, a fintech adviser and former president of Visa Asia-Pacific, according to Entrepreneur APAC. No valuation was disclosed.
“HeyMax unifies earning and redemption across borders so frequent travellers can capture value more easily”Joe Lu, CEO and co-founder, HeyMax
What HeyMax does
HeyMax runs a rewards currency called Max Miles, which users earn from partner brands and payment cards and redeem across airlines and hotels. Fintech News Singapore reported more than 800 earn partners, including Trip.com, Shopee, Starbucks and foodpanda. Miles can be redeemed for flights and gift cards or transferred to more than 30 airline and hotel loyalty programmes, including Cathay, ALL Accor and Qatar Airways.
Two products were named. FlyAnywhere books flights at a fixed redemption rate per mile, and Card Maximiser identifies the most rewarding Visa card for eligible spending.
Entrepreneur APAC and Fintech News Singapore said the company was founded in 2023 by former Meta engineers, with Fintech News Singapore counting four of them. Joe Lu is chief executive and co-founder.
Traction and markets
Fintech News Singapore, citing the company, reported more than 150,000 users, more than 500 million Max Miles issued each year, fivefold year-on-year revenue growth and an annualised revenue run rate of about US$6m. It said HeyMax targets strong triple-digit annual growth in gross merchandise value over the next two years. Fintech Global, however, said the user count and revenue were not disclosed, so those figures rest on a single outlet's report.
The company is live in Singapore and Hong Kong. It entered Hong Kong in 2025, its first market outside Singapore, by acquiring the fintech firm krip.
What the money is for
HeyMax said the funds will go to product development, especially AI-enabled rewards features, and to regional expansion. It plans to enter Japan, Taiwan and Australia by the end of 2026.
Lu said travel spending is growing across Asia-Pacific but rewards remain fragmented. Fintech Global quoted him as saying HeyMax unifies earning and redemption across borders so frequent travellers can capture value more easily.
Rohit Agarwal, a managing director at Peak XV Partners, said HeyMax is leveraging technology and reward loops to increase engagement and consumption for the world's best brands, as quoted by Fintech Global.
The funding so far
Entrepreneur APAC and Fintech News Singapore reported a US$2.7m seed round in July 2024. KrASIA put it at US$2.6m and said January Capital led it, with Tenity, Ascend Angels and XA Network participating. The sources do not state a total raised to date or the company's headcount, and the announcement did not give a figure for revenue beyond the run rate reported by Fintech News Singapore.