heymax.ai raises $2.6m in Seed round led by January Capital

By Gloria Mathias

Singapore-founded loyalty platform heymax.ai has raised $2.6 million (SG$3.5 million) in seed funding, led by January Capital and with participation from Tenity, Ascend Angels, XA Network and other strategic investors.

Founded in 2023 by four ex-Meta engineers, heymax.ai 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.

“Consumers looking to optimise their rewards are struggling to find the right platform, leading to missed opportunities for valuable rewards and wasted effort on frustrating programs that don’t fit spending habits,” said Joe Lu, CEO and Co-founder of heymax.ai. “heymax.ai’s rewards ecosystem helps address these challenges, allowing consumers to unlock more loyalty rewards through earning Max Miles from their everyday purchases. We’re committed to helping our customers earn one free vacation every year,” Lu added.

January Capital backs heymax.ai, reflecting a shared vision and commitment to digital commerce enablement in APAC. Lu shared that January Capital’s deep understanding of the eCommerce and rewards space further solidified the partnership, making them the ideal investor for heymax.ai’s future growth.

“Many reward programs we know and love are locked within the closed ecosystem of a single company. This hyper-fragmentation only serves to drive up the cost of customer acquisition for merchants and increases the mental load on consumers who are seeking to optimise their spending power,” said Roy Ong, Investor, January Capital. “The team at heymax.ai has a clear desire to break the mould and solve these challenges for both 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,” Ong added.

Optimising merchant and credit card rewards can be a challenge, but heymax.ai addresses this problem by building seamless interoperability across different business loyalty programs.

Lu added, “I’m extremely excited about the future when customers all over the world can easily maximise their rewards and get 1 million free trips from heymax.ai every year to build treasured memories. To achieve that, we are firing on all cylinders to bring more partners on board to reward customers with Max Miles.”