Singapore-based loyalty and travel rewards platform HeyMax has acquired Hong Kong fintech company krip to support its entry into the city’s loyalty and rewards market.
The deal forms part of HeyMax’s broader regional expansion strategy, with Hong Kong and Singapore positioned as core markets.
krip, launched in 2022, offers a centralized platform that aggregates over 6,000 credit card deals from more than 3,000 retail merchants. It provides users with a personalized interface to manage and maximize their card benefits.
The platform supports an estimated $7.4 billion in additional annual card spending and counts institutions such as livi Bank and Grantit among its partners.
Following the acquisition, krip’s founder and former CEO David B. Wang will join HeyMax as Global Head of Loyalty Partnerships and General Manager of Hong Kong.
Benjamin Quinlan, CEO of Quinlan & Associates and former Chairman of krip, has been appointed Senior Advisor of Financial Services Partnerships at HeyMax.
The krip brand will be phased out, with its users invited to join HeyMax and receive Max Miles, the platform’s proprietary reward points.
These can be redeemed across a network of more than 500 merchants and over 30 travel and rewards partners.
HeyMax said the acquisition builds on Hong Kong’s fintech development pipeline, citing krip’s support from Cyberport’s Incubation Programme, which provided funding, talent access, and partner introductions.
HeyMax plans to officially launch in Hong Kong in the coming months. A waitlist for early access and promotional rewards is now available for users in the city.
Founded in Singapore, HeyMax allows users to convert daily spending into travel rewards. It is backed by investors including January Capital, Monk’s Hill Ventures, Tenity, Ascend Angels, and XA Network.
Business News Asia
