The International Finance Corporation (IFC) acquired an interest in Boost Holdings through a US$20 million preference-share investment that placed its post-money valuation at US$340 million.
Boost confirmed the investment in a 28 September announcement, saying it would help develop and scale its digital financial services.
IFC’s project disclosure shows the funds were invested on 17 August.
It expects the investment to support SME financing and consumer credit in Malaysia, including digital lending that uses alternative credit scoring to reach underserved borrowers.
Boost continues to engage other prospective investors as it seeks additional backing, The Edge reported.
Axiata Group CEO and Managing Director Nik Rizal Kamil Nik Ibrahim Kamil indicated that more capital would give Boost greater room to pursue its expansion plans. He did not identify the parties involved.
An agreement signed on 31 July covered IFC’s subscription for 11.7 million preference shares.
Publicly available information does not show IFC’s ownership percentage or the terms governing the shares.
The World Bank Group’s private-sector arm first outlined the proposed investment in December 2025 and indicated that it intended to lead Boost’s equity fundraising.
Boost serves users and merchants in Malaysia and Indonesia through fintech services that include payments and financing.
Its operations also include Boost Bank, a digital banking joint venture owned 60% by Boost Holdings and 40% by RHB Bank.
The bank began serving the public in June 2024 after securing one of Malaysia’s five digital banking licences.
Prior to IFC’s entry, Axiata held 77.76% of Boost Holdings. Great Eastern Digital and Mitsui owned 19.90% and 2.34%, respectively.
Editor’s note (29 September 2026): This article was updated with details from Boost’s announcement and IFC’s project disclosure on the investment’s timing and intended use.
Featured image: Edited by Fintech News Malaysia, based on image by starmultikharisma via Magnific
