May 27, 2025

HeyMax Reports 5x Y-o-Y Revenue Growth, Annualized Revenue Reaches US$6M with APAC Expansion Ahead

Singapore - Tuesday, May 27, 2025 - HeyMax, a leading loyalty and travel rewards platform based in Singapore, today announced a major business milestone with a 5x year-on-year revenue increase, reaching over US$6 million in annualized revenue.

With strong momentum, HeyMax is scaling rapidly across product lines, user segments, and geographic markets, driven by a global-first strategy that includes planned expansion into Australia, Japan, Korea, Hong Kong, and Taiwan.

“We’re seeing strong network effects take hold, every new brand or user that joins the ecosystem makes Max Miles more useful for everyone,” said Joe Lu, CEO of HeyMax. “Our growth so far has been driven by creating real utility in how rewards are earned and used, and we believe this open model has the potential to become a standard across markets.”

A key driver of growth has been the expansion into B2B partnerships, with companies across financial services and consumer sectors incorporating Max Miles into their customer engagement strategies. Partners such as Airwallex, Atome, StashAway, Visa, and yuu Rewards Club have partnered with HeyMax to drive customer engagement and acquisition.

HeyMax now issues over 500 million Max Miles annually and has processed more than US$200 million in total transaction volume to date, reflecting a 15x increase in transaction volume over the past year. The platform also saw a record high in monthly active users in Q1 2025 and growing user engagement, as consumers increasingly consolidate their rewards activity through a single platform.

Brands on the platform have increased by 3x over the past year to over 500 brands today, including Amazon.sg, FWD Insurance, Shopee and Trip.com. Redemptions are also gaining momentum, with a significant uptick in flight bookings through HeyMax’s FlyAnywhere program.

By the end of 2026, the company aims to reach over 1 million users and onboard 1,000 merchant partners, establishing itself as Asia’s leading loyalty and travel rewards platform. Soon, users will also be able to earn Max Miles not just in Singapore, but also while traveling across the region, embedding Max Miles as a seamless rewards layer for life and travel.

HeyMax is on track to expand its redemption network to over 50 airline and hotel loyalty programs by 2027, positioning it as one of the most comprehensive points transfer platforms in the region. This ties into the company’s broader mission of making Max Miles the most connective travel loyalty currency in the world, enabling consumers to move freely and meaningfully through the traveler economy.

Founded in 2023, HeyMax has grown to become a key player in the travel rewards space. In less than two years and with no marketing or advertising spend, the platform has amassed over 120,000 registered users, with monthly active users hitting 44,500, a record high. Users have earned more than 272 million Max Miles and redeemed over 27 million, highlighting strong engagement and stickiness.

“As travel rebounds and consumers seek more flexibility in how they earn and use rewards, a new traveler economy is taking shape, where everyday spending on financial services, lifestyle, and retail seamlessly converts into travel value. HeyMax is at the forefront of this shift, powering a connected rewards infrastructure that simplifies how consumers and businesses benefit from loyalty programs,” Roy Ong, Investor at January Capital.

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