SEA Deal Ticker
The World Bank's investment arm backs a Malaysian e-wallet: IFC puts US$20M into Boost
IFC, the World Bank's lender to private companies, bought US$20 million of shares in Boost, which values it at US$340 million. Boost Bank's loan book reached US$100 million (RM418 million) in June, two years after launch.
Positive-sum angle: Boost Bank lends to small businesses off their payment data. A Malaysian stall owner turned away by a bank for lack of collateral has one more lender with fresh money to spend.