Heymax.ai, a pioneering open loop loyalty platform based in Singapore, has recently completed a significant seed funding round, securing US$2.6m.
The investment round was spearheaded by January Capital, with contributions from Tenity, Ascend Angels, XA Network, and several other strategic investors.
The company, which was founded in 2023 by a team of four former Meta engineers, specializes in optimizing personal finance and shopping experiences. Heymax.ai enables consumers to accumulate Max Miles from over 500 partnering businesses, which can then be redeemed for flights or transferred to various airline and hotel loyalty programs.
The new funds are earmarked for enhancing Heymax.ai’s technological infrastructure and expanding its service offerings. The company aims to simplify the reward maximization process, helping consumers to earn a free vacation each year through smart management of merchant and credit card rewards.
In addition to the recent funding, Heymax.ai is also strengthening its market position through strategic partnerships and product innovations. Notably, the company has collaborated with Visa to introduce the Card Maximiser tool, which assists consumers in tracking and optimizing their card rewards across all Visa-branded cards.
Heymax.ai’s CEO and Co-founder, Joe Lu, emphasized the platform’s impact on consumer habits. “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.
“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,”
The platform has already made significant strides, with over 50,000 users who have collectively earned more than 50 million Max Miles and redeemed over 10,000 flights since its inception.
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