S’pore travel startup bags US$11M Series A funding round
The new capital will enhance the startup’s product capabilities and support its expansion across APAC this year.
Singapore-based travel rewards platform HeyMax has secured US$11 million in a Series A round led by Peak XV Partners.
The round was also supported by Betatron Venture Group, January Capital, Tenity, Rob Rosenstein, Co-founder and Chairman of Agoda, and David Lee, fintech advisor, independent bank director, and former President of Visa APAC.
The new capital will boost HeyMax’s product capabilities, focusing on an AI-empowered rewards experience that simplifies earning and redemption for consumers, as well as support expansion into Japan, Taiwan, and Australia by the end of this year.
The platform unifies loyalty and travel rewards, allowing consumers to earn and redeem value across brands, cards, airlines, and hotels through its flagship currency, Max Miles.
Users can earn Max Miles when they shop with over 800 participating brands and merchants, including 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 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 in 2023, HeyMax currently operates in Singapore and Hong Kong, following the acquisition of Hong Kong-based fintech krip in 2025. 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.
The round was also supported by Betatron Venture Group, January Capital, Tenity, Rob Rosenstein, Co-founder and Chairman of Agoda, and David Lee, fintech advisor, independent bank director, and former President of Visa APAC.
The new capital will boost HeyMax’s product capabilities, focusing on an AI-empowered rewards experience that simplifies earning and redemption for consumers, as well as support expansion into Japan, Taiwan, and Australia by the end of this year.
The platform unifies loyalty and travel rewards, allowing consumers to earn and redeem value across brands, cards, airlines, and hotels through its flagship currency, Max Miles.
Users can earn Max Miles when they shop with over 800 participating brands and merchants, including 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 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 in 2023, HeyMax currently operates in Singapore and Hong Kong, following the acquisition of Hong Kong-based fintech krip in 2025. 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.
