Boost Valuation, Funding & Investors

Boost is valued at $1.5B as of June 2020.

See full Boost profile

Last Boost valuation

$1.5B

Strategic investment · Jun 2020

Last Boost funding round

$70M

Strategic investment · Jun 2020

Cumulative funding Boost raised

$70M

across 1 funding round

Key investors in Boost

Boost Overview

About Boost

Boost is a Kuala Lumpur-headquartered fintech company operating Malaysia's leading e-wallet and lifestyle application. Launched in 2017 as a joint venture between Axiata Digital and Razer, it serves 7.5 million users through 170,000 merchant touchpoints for payments, bill settlements, and rewards. Boost processes transactions via QR codes and NFC, integrating with public transport fares and e-commerce platforms across Southeast Asia.


Founded

2017

HQ

MalaysiaKuala Lumpur

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Valuation

$1.5B (Jun 2020)

Boost Valuation

Boost is currently valued at $1.5B, based on its strategic investment round in June 2020.

The $70M round was led by Great Eastern Life.

Boost valuation by funding round

Boost valuation by funding round
DateStageValuation
Jun 2020Strategic investment$1.5B

Boost Funding History

Boost has raised a total of $70M across 1 funding round.

Boost funding rounds

Boost funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2020Strategic investmentGreat Eastern Life (lead)$70M$1.5BBoost Holdings is the digital financial services subsidiary of Malaysia-based telecommunications firm Axiata, operating as a holding company for multiple fintech offerings. The company's core business includes Boost, a leading digital wallet app with over 7.5 million users and 170,000 merchant payment touchpoints in Malaysia, plus additional capabilities serving Indonesia with 540,000-plus vendors. The group also operates Aspirasi, a micro-financing and micro-insurance platform providing simplified access to credit and insurance for micro, small and medium enterprises, and Trust Axiata Digital Limited, a joint venture with a Bangladeshi bank providing digital financial services to underserved markets. In June 2020, Singapore-based insurer Great Eastern Life, a subsidiary of Oversea-Chinese Banking Corporation, invested US$70 million for a 21.875% stake in Boost Holdings at an implied post-money valuation of US$320 million. This transaction was described as the largest foreign investment and the largest fintech deal in Malaysia to that point. Axiata Digital Services retained the remaining 78.125% ownership. The capital was earmarked to accelerate Boost's merchant and customer ecosystem development, enhance Aspirasi's credit scoring technology, and support digital financial services expansion across Malaysia, Indonesia, and Bangladesh. The investment reflected strong backing from an established financial institution and positioned Boost as a significant regional fintech player, with Axiata's leadership publicly stating ambitions to build Malaysia's first unicorn company.

Who has invested in Boost?

1 investor has backed Boost across its funding rounds, including Great Eastern Life.

Lead investors include Great Eastern Life.


Boost Investors

Investors in Boost by funding rounds participated
InvestorHQRoundsRoleFirst check

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Boost Competitors

Boost competitors include listed companies like Ziff Davis and Wealthfront, and private ones like CoinBridge, CloudWalk, Bilt Rewards and Current.

Public and private companies comparable to Boost
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Ziff DavisUnited StatesUnited StatesPublicly listed$1.5B$335M$2B1.0x
CoinBridgeIsraelHerzliyaPrivate--$1B-
CloudWalkBrazilSão PauloPrivate--$2.1B-
Bilt RewardsUnited StatesNew York City, NYPrivate$1B-$11B10.8x
CurrentUnited StatesNew York City, NYPrivate--$1.5B-
WealthfrontUnited StatesUnited StatesPublicly listed$365M($93M)$1.6B4.2x

Boost Public Comps

Boost is still privately-owned, but its public comps include Wealthfront, Kbank, PicPay, QuinStreet, Agibank, Ibotta, Superbank Indonesia, Forbright Bank, Eurowag and Ziff Davis.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Wealthfront$365M($93M)4.3x4.2x(17.0x)9.9x
Kbank$461M-3.5x4.2x--
PicPay$1.2B$205M1.0x0.5x6.0x3.8x
QuinStreet$1.3B$61M0.7x0.7x15.8x7.9x
Agibank$1.3B$227M0.8x0.6x4.4x5.3x
Ibotta$342M$7M2.5x2.4x114.9x15.3x
Superbank Indonesia$89M-10.8x---
Forbright Bank$325M-2.9x---

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Common questions about Boost

When was Boost founded?Boost was founded in 2017.
Where is Boost headquartered?Boost is headquartered in Kuala Lumpur, Malaysia.
Is Boost publicly listed?No, Boost is a private, VC-backed company.
What is Boost's valuation?Boost was last valued at $1.5B in its strategic investment round in June 2020.
How much funding has Boost raised?Boost has raised $70M across 1 funding round.
What was Boost's last funding round?Boost's last funding round was a $70M strategic investment round in June 2020, led by Great Eastern Life.
Who are Boost's investors?Boost's investors include Great Eastern Life.
Which companies are comparable to Boost?Companies comparable to Boost include Ziff Davis, CoinBridge, CloudWalk, Bilt Rewards, Current and Wealthfront.

See companies similar to Boost

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