Not long ago, Boost was best known for making small payments easier — whether at a mamak stall or a bubble tea shop. Today, it has grown into one of Malaysia’s biggest cashless champions.
Backed by Axiata Group, Boost started as a pioneer in e-wallets and has since expanded into a regional fintech player. Last year, it launched Boost Bank, Malaysia’s first homegrown digital bank.
Now, the question is bigger: Can a player from KL stand tall against Southeast Asia’s fintech giants?
What Does Success Mean for Boost?
Sheyantha sees success in two ways:
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Helping Malaysians — especially underserved groups and small businesses — access digital financial tools on a single platform.
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Expanding carefully across Southeast Asia while staying profitable.
Indonesia, Cambodia, and Bangladesh are early test markets. The aim? Build a multi-billion-dollar company with real profit, not just hype.
Turning Telco Data into a Fintech Edge
Boost’s biggest advantage comes from its synergy with Axiata. By working with CelcomDigi, Boost taps into call data records (CDR) to measure creditworthiness — giving access to financing for people invisible to traditional credit bureaus.
This model, already tested in Indonesia, could be replicated across the region. The strategy is about embedding Boost’s services into telco apps and digital platforms people already use — instead of competing as a standalone app.
The Path to Profitability
Boost is targeting profitability this year.
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Its merchant arm, Boost Connect, is already profitable.
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Consumer lending, especially through PayFlex, has been a growth driver in the past 18 months.
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Lower costs in cash-in and customer acquisition have also helped.
Instead of chasing new users, Boost now focuses on deepening relationships with existing ones and diversifying revenue to ensure sustainable growth.
Building a Legacy Beyond Profit
Sheyantha says the company’s ambition isn’t only financial. In the next three to five years, Boost wants to be:
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A multi-billion-dollar fintech leader in Southeast Asia.
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A talent hub that nurtures the next generation of fintech founders and leaders.
“I take no greater pride than knowing someone learnt here and went on to build their own startup,” Sheyantha shared.
