FundraiseAug 28, 2026, 10:26 UTC

Boost Holdings raises $20M from IFC, still hunting for more capital

What's the deal? Boost Holdings, the fintech arm of Malaysia's Axiata Group, has secured a $20 million (RM81.7 million) investment from the International Finance Corporation (IFC), the World Bank Group's private-sector arm. The deal, signed on July 31, valued the company at $340 million post-money.

The mechanics: IFC subscribed for 11.7 million preference shares under the agreement. Axiata did not disclose IFC's precise stake or the rights attached to the shares.

Why now? IFC first flagged the investment on December 18, 2025, saying it intended to lead Boost's equity fundraising to sustain growth. Yet the round is not closed: Axiata said Boost remains in talks with other potential investors to extend its funding runway and finance expansion.

What's the endgame? Boost houses Axiata's digital financial-services businesses and owns 60% of Boost Bank, one of Malaysia's five licensed digital banks, which launched to the public in June 2024. RHB Bank holds the remaining 40%.

Before IFC's entry, Axiata owned 77.76% of Boost Holdings, with Great Eastern Digital at 19.90% and Mitsui & Co at 2.34%. In June, The Edge reported that Angkasa was tipped to take a 20% to 30% strategic stake, though the structure was not finalised.

The signal: A development-finance backer leading the round — rather than a traditional venture fund — points to how Southeast Asia's digital banks are courting patient, institutional capital to fund the long climb to profitability.