Heymax.ai, a loyalty platform based in Singapore, announced that it has raised $2.6 million in seed funding, with January Capital leading the round.
In a statement, Heymax.ai said that Tenity, Ascend Angels, XA Network, and other strategic investors were also involved in the round.
Shiyan Koh, JJ Chai, Kum Hong Siew, Evan Heng, JJ (Projjal) Ghatak, Jake Tan Jun Kiat, Junyang Ng, Chua Ee Chien, Nino Ulsamer, Jeff Wu, Ned Lowe, Vanessa Ho, Sky Tsoi, Zach Tan, Ronak Banka, Sandeep Krishnamani, Ayush Goyal, John Xiao, Jimmy Gambier, Royston Chan, Jian Wei Chuah, Junxiong Ho, and StashAway’s Angel Investing program are among the latest round of angel investors supporting the company’s growth efforts.
In November 2023, Heymax.ai announced that it would be expanding into Australia, citing strong momentum in Singapore.
According to the company, it will keep expanding in order to enter new markets in the Asia Pacific (APAC) area in the upcoming months.
“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 don’t fit spending habits,” said Joe Lu, Chief Executive Officer and Co-founder of Heymax.ai.
He said that by enabling users to earn Max Miles from regular transactions, Heymax.ai’s rewards ecosystem helps address these issues and enables users to unlock more loyalty rewards.
“We’re committed to helping our customers earn one free vacation every year,” he said.
He added that January Capital was the perfect investor for Heymax.ai’s future growth because of their in-depth knowledge of the rewards and e-commerce industries, which further cemented their partnership.
Heymax.ai is a personal finance and shopping platform founded in 2023 by four former Meta engineers. Users can earn Max Miles from over 500 businesses and easily redeem them for any flight or transfer them directly to miles and points at 25 airline and hotel partners.
January Capital’s support for the company demonstrates a shared commitment to enabling digital commerce in Asia.
“Many rewards 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 optimize their
spending power,” said Roy Ong, Investor, January Capital.
