Malaysia’s Boost bets on MSMEs, not hype, in its race to unicorn status

[KUALA LUMPUR] In a fintech arena long driven by scale-first, profit-later strategies, Malaysia’s Boost – the fintech arm of regional telco Axiata Group and partly owned by Singapore insurer Great Eastern – is trying to chart a more measured course, while still chasing unicorn ambitions.

Boost Group chief executive officer Sheyantha Abeykoon was clear-eyed about the company’s goals, discreetly but firmly signalling an ambition to become Malaysia’s next unicorn, with a valuation target of “a couple of billion dollars” within five years.

A listing plan is also on the drawing board, though Abeykoon declined to commit to a timeline.