Boost
Founded Year
2017Stage
Corporate Minority | AliveTotal Raised
$70MValuation
$0000Last Raised
$70M | 5 yrs agoMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-5 points in the past 30 days
About Boost
Boost is a financial technology company that offers a spectrum of digital financial services across various sectors. The company provides an application for personal finance management, business financing, and enterprise payment solutions. Boost primarily serves the e-commerce industry and small and medium businesses and aims to expand its footprint in the digital banking sector. It was founded in 2017 and is based in Kuala Lumpur, Malaysia.
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Expert Collections containing Boost
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Boost is included in 2 Expert Collections, including Payments.
Payments
3,322 items
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Fintech
13,662 items
Excludes US-based companies
Latest Boost News
Feb 27, 2025
Axiata Reportedly in Talks with Potential New Shareholder for Boost Boost's FY2024 net loss narrowed to RM165.99 million, with RM69.2 million attributed to Boost Bank's startup costs. Get the hottest Fintech Malaysia News once a month in your Inbox Axiata Group is in discussions with a prospective new shareholder for its fintech arm, Boost Holdings , as part of efforts to strengthen its funding capabilities, The Edge reports. The investment remains subject to regulatory approval, and details of the new shareholder have not been disclosed. Vivek Sood Group CEO and Managing Director Vivek Sood stated during an earnings briefing that Axiata expects to finalise the deal by the second quarter of 2025. According to filings with the Companies Commission Malaysia (SSM), Axiata currently holds a 77.76% stake in Boost, while Great Eastern Holdings’ subsidiary, Great Eastern Digital, owns 19.89%, and Mitsui & Co holds 2.33%. Great Eastern’s shareholding declined from 21.875% in September 2023 following an increase in Boost’s issued and paid-up share capital, which stood at RM1.74 billion and RM1.59 billion, respectively. Boost operates across multiple fintech segments, including its core digital payments app, micro-financing and micro-insurance provider Aspirasi, regional carrier billing player Apigate, and Trust Axiata Digital, a joint venture in Bangladesh. It also owns 60% of Boost Bank , a digital bank launched in partnership with RHB Bank, which began operations in June 2024. For the financial year ended 31 December 2024 (FY2024), Boost narrowed its net loss to RM165.99 million from RM179.24 million in the previous year, while revenue edged up 2.5% to RM155.82 million. Axiata attributed RM69.2 million of Boost’s losses to startup costs associated with Boost Bank, while non-bank losses improved to RM96.8 million. Featured image credit: Edited from Freepik
Boost Frequently Asked Questions (FAQ)
When was Boost founded?
Boost was founded in 2017.
Where is Boost's headquarters?
Boost's headquarters is located at Menara Axiata, 9, Level 29, Axiata Centre 9, Jalan Stesen Sentral 5, KL Sentral, Kuala Lumpur.
What is Boost's latest funding round?
Boost's latest funding round is Corporate Minority.
How much did Boost raise?
Boost raised a total of $70M.
Who are the investors of Boost?
Investors of Boost include Great Eastern.
Who are Boost's competitors?
Competitors of Boost include Funding Societies, Stripe, Maya, Touch 'n Go, Ovo and 7 more.
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Compare Boost to Competitors
Touch 'n Go focuses on digital transformation and financial technology within the mobility ecosystem. The company offers fintech solutions that facilitate cashless transactions and enhance consumer experiences in various aspects of daily life. Touch 'n Go primarily serves the financial technology sector, with a focus on increasing financial inclusion across Malaysia. It was founded in 1997 and is based in Kuala Lumpur, Malaysia. Touch 'n Go operates as a subsidiary of AIA Group.
Merchantrade operates as a service provider in the financial technology sector, with a core focus on cross-border money transfers, mobile money, and electronic payments. The company offers services such as international money transfers, foreign currency exchange, wholesale banknotes, and digital wallet services, along with a payment gateway, mobile telecommunications, and micro insurance. Merchantrade primarily serves the e-commerce industry. It was founded in 1996 and is based in Petaling Jaya, Malaysia.
CreditEase is a financial technology conglomerate providing a peer-to-peer (P2P) platform. It specializes in inclusive finance and wealth management including payment technology, marketplace lending, crowdfunding, robo-advisory, insurance technology, and blockchain products and services. The company was founded in 2002 and is based in Beijing, China.
Pay.UK focuses on the bill payment process for both consumers and businesses. The company offers a communication platform for managing bills, providing options to pay in full, pay in part, ask for more time, or decline to pay for reconciliation and invoicing for organizations. It primarily serves consumers and businesses in their bill payment and collection processes. Pay.UK was formerly known as New Payment System Operator. The company was founded in 2017 and is based in London, United Kingdom.
FusionPay is a pay-tech company specializing in digital payment solutions for the Asian market. The company offers integrated mobile payment services such as WeChat Pay, AliPay, and UnionPay, allowing Chinese customers to pay in their local currency while merchants receive payments in GBP or EUR. It was founded in 2018 and is based in London, England.
Mangopay is a provider of modular and flexible payment infrastructure services within the fintech sector. The company offers a suite of financial technology solutions including e-wallets, payment processing, payouts, identity verification, fraud prevention, and foreign exchange services. These services cater to various sectors such as C2C, B2B, and B2C marketplaces, as well as rental and retail platforms. It was founded in 2013 and is based in Luxembourg, Luxembourg.
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