Great Eastern to pump US$70m into fintech Axiata Digital's expansion plans
2020-06-26 | Accounting, AI, Blockchain, Business, Education, Employment, Grants, IT & Computer, Marketing, |
GREAT Eastern will make a US$70 million investment in Axiata Digital’s financial-services business to “participate in Axiata’s growing fintech expansion plans in the region”, said Great Eastern's group chief executive Khor Hock Seng on Thursday.
The investment will be made via a newly created holding company Boost Holdings, which will be wholly-owned by Axiata Digital, the digital arm of Axiata Group. With the investment, Great Eastern will have a 21.875 per cent in Boost; Axiata Digital Services will hold the remaining stake.
Boost is a Malaysia-based e-wallet and lifestyle app with over 7.5 million users and 170,000 merchant touchpoints.
Read more at The Business Times here!
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