Heymax.ai, a Singapore-founded loyalty platform, has raised $2.6
million in seed funding.
The financing is led by January Capital, with contributions from Tenity, Ascend Angels, XA Network and other investors.
Both January Capital and Heymax.ai are said to share a vision
and commitment to digital commerce enablement in APAC. Joe Lu, CEO and
co-founder of Heymax.ai, said January Capital’s understanding of the e-commerce
and rewards space solidified the partnership.
Founded in 2023, Heymax.ai is a fintech startup that helps
consumers earn rewards, called Max Miles, from businesses and allows them to redeem
the points for flights or directly transfer them at 25 airline and hotel partners.
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As part of their growth plans, Heymax.ai also announced that
it has appointed Aik-Phong Ng, former managing director of Shopback and Fave,
as its chief commercial officer, to lead the company’s partnership efforts
and accelerate the adoption of Max Miles.
The platform combines consumers’ rewards into a free
vacation every year and maximizes the rewards through Max Miles offering,
credit card optimization and tailored recommendations.
"Many rewards programs we know and love are locked within
the closed ecosystem of a single company," said Roy Ong, investor at January Capital. "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.”
Lu added, “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. 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.”