HeyMax, a loyalty and travel rewards platform based in Singapore, announced Wednesday that it has acquired krip, a Hong Kong-based fintech firm with integrated credit card benefits platform, to accelerate regional expansion.

The duo said in a statement that the move accelerates HeyMax’s entry into Hong Kong’s loyalty and rewards market as part of its regional expansion.

The acquisition also lays the groundwork for HeyMax’s official launch in Hong Kong in the coming months, where both local users and travelers visiting the city will be able to access the platform’s growing network of rewards.

“This is a strategic step forward in our mission to make travel more accessible through everyday spending. The krip team brings deep domain expertise in Hong Kong’s loyalty and rewards space, along with strong local relationships and business to business (B2B) insights that are critical as we expand across the region,

“With Hong Kong and Singapore as core markets, this acquisition accelerates our presence in a key financial and travel hub, and sets the foundation for new global partnerships that bring even more value to consumers across Asia,” said Joe Lu, Chief Executive Officer and Cofounder of HeyMax.

Launched in 2022, krip set out to help consumers spend smarter by simplifying how they discover and access credit card rewards and benefits.

To date, the platform has aggregated over 6,000 credit card deals offered by more than 3,000 retail merchants, providing a personalized experience for users to manage all their cards in one place.

Krip enables financial institutions to build greater customer loyalty, supporting an estimated $7.4 billion in additional annual card spending.

Its clients including livi Bank, Grantit, and other financial institutions and retail partners.

“At krip, our mission has always been to empower consumers to spend smarter. By helping consumers realize more value from their everyday spend, we have unlocked new ways of how
financial institutions, retail merchants and consumers can better interact with each other to maximize engagement and loyalty in the digital age,

“Joining forces with HeyMax opens up exciting opportunities for us to deliver on our mission and to realize our mutual vision to bring greater value to consumers at scale,” said David B. Wang, former Chief Executive Officer and Founder of krip.

As part of the acquisition, Wang will transition to the Global Head of Loyalty Partnerships and General Manager of Hong Kong at HeyMax, where he will lead local market strategy and support global partnerships growth.

Benjamin Quinlan has also been appointed as Senior Advisor of Financial Services Partnerships.

As Chief Executive Officer and Managing Partner of Quinlan & Associates, Quinlan joins HeyMax from his role as Chairman of krip, bringing his extensive experience in the financial services and fintech sector across Asia to HeyMax.

The krip brand will be retired following the acquisition, with key team members integrated into the broader organization.

The acquisition also reflects the strength of Hong Kong’s fintech innovation pipeline, said the statement.

Backed by Cyberport’s Incubation Program, krip received funding, access to student talent, and connections to key partners that supported its growth and expansion into overseas markets.

With a strengthened local presence and leadership team, HeyMax said the firm is well-positioned to accelerate partnerships with banks, fintechs, and consumer brands across the market.

It is noted that the firm has launched a waitlist for users in Hong Kong.

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