Axiata’s FinTech arm, Boost to accelerate digitisation for MSMEs in Indonesia

By Gloria Mathias

Boost, a regional full-spectrum FinTech arm of Axiata has announced its plans to empower the growth of MSMEs in Indonesia.

Boost aims to help MSMEs by financially empowering underserved enterprises nationwide. The company is fully committed to transforming the sector by offering comprehensive financial solutions, specifically focusing on productive P2P lending.

Sheyantha Abeykoon, Group CEO of Boost said, “Since its inception, it has been our purpose and mission to serve the underserved by digitally transforming our merchants to be unstoppable in achieving their goals in our operating countries, including Indonesia. With the ever-evolving digital landscape, it is crucial for them to be able to get access to the right tools and solutions needed to embrace digitalisation. We hope to contribute to the efforts of simplifying financing solutions powered by AI and machine learning for the Indonesian market.”

Boost was founded in Malaysia and Indonesia in 2017 to spur growth for MSMEs through financial services and merchant-focused solutions. In Indonesia, Boost offers two financing services through P2P lending, namely invoice financing and supply chain financing. These services allow MSMEs to obtain financing for business activities, expand their stores, pay employees, and realize their entrepreneurial dreams.

Stefanus Warsito, CEO of Boost Indonesia said, “At Boost, we always have been at the forefront of innovating our financing services to digitally empower businesses, especially amongst the underserved community. Currently, we are partnering with ecosystem players to see how we can transition our latest FinTech lending model into value-added merchant solutions and products for MSMEs in Indonesia to grow without limits.”

“Over 40% of Boost’s customers in Malaysia and Indonesia have never received credit from other financial service providers before. We seek to reach more MSMEs across the country through our holistic FinTech solutions that can help them be unstoppable in their business growth,” added Stefanus.