The International Finance Corporation has taken a stake in Malaysian fintech Boost Holdings through a USD20 million preference-share investment, valuing the digital bank and e-wallet operator at USD340 million post-money. The deal formalizes an investment the World Bank Group’s private-sector arm first flagged in December 2025, though Axiata Group says Boost remains in talks with other investors to round out its funding.
Key Facts At A Glance
- IFC invested USD20 million in Boost Holdings via a preference-share subscription
- Deal values Boost at USD340 million on a post-money basis
- Agreement was signed on July 31, 2026
- IFC subscribed for 11.7 million preference shares
- IFC’s exact ownership percentage and share terms have not been publicly disclosed
- Boost is the fintech arm of Malaysia’s Axiata Group
- Before this round, Axiata held 77.76% of Boost, with Great Eastern Digital at 19.90% and Mitsui & Co at 2.34%
- Boost continues to court additional investors to extend its funding runway
Deal Structure And Timeline
IFC first outlined its intention to lead Boost’s equity fundraising in December 2025. The agreement signed on July 31, 2026 covers IFC’s subscription for 11.7 million preference shares, though publicly available information does not specify IFC’s resulting ownership stake or the rights attached to those shares.
Prior to IFC’s entry, Axiata Group held the majority of Boost Holdings at 77.76%, with Great Eastern Digital holding 19.90% and Mitsui & Co holding 2.34%. Earlier reporting had indicated that Malaysian sovereign fund Angkasa was tipped for a 20% to 30% strategic stake, though that structure was never finalized.
Ongoing Fundraising
Axiata Group CEO and Managing Director Nik Rizal Kamil Nik Ibrahim Kamil said additional capital would give Boost more room to pursue its expansion plans, without naming the other prospective investors under discussion. The round therefore remains open, with Boost actively seeking further backing beyond IFC’s commitment.
A development-finance institution leading the round, rather than a conventional venture fund, reflects a broader pattern among Southeast Asian digital banks of courting patient, institutional capital to sustain the path to profitability.