Heaptalk, Jakarta — Singapore-based loyalty program startup, Heymax.ai announced the completion of seed funding at US$2.6 million, led by January Capital, with participation from Tenity, Ascend Angels, XA Network and other strategic investors.
“Consumers looking to optimize their rewards are struggling to find the right platform, leading to missed opportunities for valuable rewards and wasted effort on frustrating programs that do not fit spending habits. Heymax.ai’s rewards ecosystem helps address these challenges, allowing consumers to unlock more loyalty rewards by earning Max Miles from everyday purchases. We are committed to backing our customers earn one free vacation every year,” CEO and Co-founder of Heymax.ai, Joe Lu, said.
Founded in 2023 by four ex-Meta engineers, this startup is a personal finance and shopping platform that allows consumers to earn Max Miles from over 500 businesses, conveniently redeem them for any flights, or directly transfer them to miles and points at 25 airline and hotel partners.
Heymax.ai is backed by January Capital, reflecting a shared vision and commitment to digital commerce enablement in APAC. Lu says that January Capital’s deep understanding of the e-commerce and rewards space further solidified the partnership, making it the ideal investor for Heymax.ai’s future growth.
“This hyper-fragmentation only drives up the customer acquisition cost for merchants and increases the mental load on consumers seeking to optimize their spending power. The team at Heymax.ai desires to break the mold and solve these challenges for merchants and customers. Combined with the founding team’s experience in large technology companies, we knew from the beginning that they would be able to execute this vision with great finesse,” January Capital’s Investor, Roy Ong, said.
Giving out 50 million max miles to date
The platform grants customers access to more than 500 major merchants across critical categories, including Amazon.sg, Apple, Grab, NTUC Fairprice, Shopee, and more. It allows customers to earn rewards through one single currency: Max Miles. Max Miles can be redeemed for any commercial flight on any airline or transferred to over 25 airline and hotel partner reward programs worldwide at a 1:1 ratio, with no fees or expiry dates.
Since the launch of Max Miles in September 2023, Heymax.ai’s user base has grown to over 50,000 consumers. These users have earned over 50 million Max Miles and redeemed over 10,000 flights, showcasing the platform’s popularity and the value it delivers to consumers.
Heymax.ai’s recent partnership with Visa to launch Card Maximiser is a testament to its ability to collaborate with industry leaders. This collaboration provides consumers a seamless way to track their spending across all Visa-branded cards, offering comprehensive and real-time insights into their card transactions and rewards accrual.
