Axiata Digital’s RM980 Million Revenue Boosts the Group’s Strong Performance
by Fintech News Malaysia February 22, 2022Axiata Group has closed its financial year ended 31 December 2021 with strong operating performance as Axiata Digital’s revenue almost doubled to RM980 million mainly driven by growth at Boost and ADA.
Boost is Axiata’s fintech arm and ADA is a digital analytics and artificial intelligence company that designs and executes integrated digital, analytics, and marketing solutions.
In FY21, Boost’s gross transaction value (GTV) grew by 25.7% to RM 5 billion driven by growth in online and offline payments, with the latter picking up after easing of lockdowns.
Its revenue soared by 65.4% following the acquisition of close to a million new users and approximately 140,000 merchants.
Across Malaysia and Indonesia, Boost’s loan book also grew healthily with a total GTV of loans disbursed increased by about 13X and 55X respectively in 2020 to 2021.
With Indonesia being a key growth engine, Boost Indonesia also saw a growth of 5X year-on-year through the pandemic, making it one of the largest lending P2P operations in Indonesia.
Tan Sri Shahril Ridza Ridzuan
Tan Sri Shahril Ridza Ridzuan, Chairman of Axiata said,
“Emerging from a very challenging year, Axiata’s growth in 2021 reflects well on our move to expand from a pure play mobile focus to include digital and infrastructure businesses. We continue to embrace digitisation and analytics at the core of this transformation to effectively identify shifting consumption patterns.
In becoming the next generation digital champion, we look forward to raising our ESG contributions, as Axiata and its operating companies focus on driving concerted climate action in addition to our digital inclusion efforts across the region.”
