Bringing HeyMax’s Universal Travel Rewards to HK & Beyond
For residents of business hubs like Singapore and Hong Kong, travel is a way of life. Our small cities are vastly over-represented as international travelers, as evidenced by world-class airports and tremendous usage of miles programs. That said, air miles have been an under-utilized currency for businesses to harness in attracting and keeping customers. So when we met the HeyMax team, their B2B2C model made tremendous sense to us.
HeyMax, a Singapore-headquartered loyalty and travel rewards platform, is rethinking how people earn and redeem value across brands, cards, airlines, and hotels.
The Round
Betatron teamed up with Peak XV Partners to invest US$11 million in a Series A round with continued support from January Capital and Tenity. The round also includes Rob Rosenstein (Co-founder and Chairman of Agoda) and David Lee (fintech advisor, independent bank director, and former President of Visa APAC).
Why we invested
Across Asia-Pacific, travel continues to be one of the most meaningful categories of discretionary spending. At the same time, the region’s rewards ecosystems remain highly fragmented, locking consumers into separate programs with limited cross-border utility. This creates friction for travelers and leaves substantial value unclaimed every year.
HeyMax is solving that fragmentation by building a platform where rewards can finally behave like a modern financial product: portable, interoperable, and easy to use.
Strategic fit with Betatron
Betatron invested to fund the HeyMax team’s expansion from Singapore into Hong Kong. With Betatron’s long presence in Hong Kong and our mandate as fund managers on behalf of the HKIC’s Capital Investment Entrant Scheme, we are a natural partner for HeyMax and are proud to bring yet another company to the region.
What HeyMax is building
Founded in 2023, HeyMax unifies earning and redemption through its flagship currency, Max Miles, enabling consumers to capture value seamlessly across partners and markets.
The platform’s core products include:
Max Miles: A universal rewards currency that connects multiple loyalty and merchant programs to unlock more flexible redemption.
FlyAnywhere: A redemption feature that enables booking on nearly any airline at a fixed rate per mile.
Card Maximiser: A tool that automatically helps users choose the most rewarding Visa card, even without opening the app.
HeyMax already enables earning through 800+ participating brands and merchants, with redemption options including flights, gift cards, and transfers to 30+ airline and hotel programs.
Strong momentum and a clear path to regional scale
Since its US$2.7 million seed round in July 2024, HeyMax has grown to 150,000+ users and issues 500 million+ Max Miles annually. In 2025, HeyMax expanded internationally into Hong Kong as its first market outside Singapore and completed the acquisition of Hong Kong-based fintech krip. The company has also reported fivefold year-on-year revenue growth.
With this new financing, HeyMax will invest further in product capabilities, including an AI-empowered rewards experience designed to simplify earning and redemption. The company also plans to expand beyond Singapore and Hong Kong into Japan, Taiwan, and Australia by the end of 2026.
“Despite rapidly rising income levels and discretionary spending on travel, APAC’s loyalty landscape is still highly fragmented,” said Matthias Knobloch, Managing Partner of Betatron Venture Group. “HeyMax helps established and emerging brands alike amplify their reach by engaging a relevant audience. Hong Kong’s status as a regional travel and cultural hub makes the city a natural choice for spearheading HeyMax’s international expansion.”
Looking ahead
We believe HeyMax is building the rails for a more unified and consumer-friendly rewards ecosystem in Asia-Pacific, with the potential to become the default “travel rewards wallet” for a new generation of travelers. We’re proud to partner with the HeyMax team and the rest of the syndicate as they scale across the region.
To learn more about HeyMax, visit www.heymax.ai.
