The International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, has invested US$20 million in Malaysia’s fintech company Boost Holdings through preference shares, valuing the company at US$340 million after the investment.
Boost confirmed the investment in an announcement on 28 September 2026, stating that the funding would support the development and expansion of its digital financial services.
According to IFC’s project disclosure, the investment was completed on 17 August 2026 as part of efforts to strengthen financial inclusion and improve access to financing in Malaysia.
The funding is expected to support Boost’s financing services for small and medium enterprises (SMEs) and individual consumers, particularly those who have limited access to traditional banking facilities.
One of the key areas of focus is digital lending, including the use of alternative credit scoring methods to assess borrowers who may not have established credit histories.
By using digital technology and alternative financial data, Boost aims to make financing more accessible to underserved individuals and businesses.
The investment also comes as Boost continues discussions with other potential investors to secure additional funding for its future growth.
According to a report by The Edge, Axiata Group chief executive officer and managing director Nik Rizal Kamil Nik Ibrahim Kamil indicated that further capital injections would provide Boost with greater flexibility to pursue its expansion plans.
However, he did not disclose the identities of the potential investors or the amount of additional funding being sought.
Under an agreement signed on 31 July 2026, IFC subscribed for approximately 11.7 million preference shares in Boost Holdings.
The investment represents an important development in Boost’s fundraising efforts, although IFC’s exact ownership percentage and the specific terms attached to the preference shares have not been publicly disclosed.
IFC had previously announced its proposed investment in December 2025, indicating its intention to lead an equity fundraising exercise for Boost.
Boost Holdings operates a range of digital financial services across Malaysia and Indonesia, including digital payments, merchant solutions and financing products.
The company focuses on using financial technology to provide convenient and accessible financial services to consumers and businesses.
Its operations also include Boost Bank, one of Malaysia’s licensed digital banks.
Boost Bank is a joint venture between Boost Holdings, which owns a 60% stake, and RHB Bank, which holds the remaining 40%.
The digital bank officially began offering services to the Malaysian public in June 2024 after receiving one of the five digital banking licences issued in the country.
Through its digital banking and fintech operations, Boost aims to expand financial services to a wider range of customers, including individuals and SMEs that may face difficulties obtaining conventional banking products.
Before IFC’s investment, Axiata Group was the largest shareholder in Boost Holdings with a 77.76% stake.
Great Eastern Digital held 19.90%, while Japanese trading company Mitsui owned the remaining 2.34%.
IFC’s entry as an investor is expected to strengthen Boost’s financial position and support its plans to expand digital lending, banking and payment services.
The investment also reflects growing institutional interest in Malaysia’s digital financial services industry, particularly businesses focused on improving financial accessibility through technology.
With additional funding and continued investor support, Boost is seeking to strengthen its position in the regional fintech market while expanding its services to more consumers and businesses.
