Boost launches SME platform for Malaysian businesses

What happened

Boost, a Malaysian fintech and digital bank, launched Boost SME, a digital business banking platform that combines banking, payments, and financing. The platform offers a fully digital onboarding process, letting businesses open an account in as fast as five minutes via web and mobile apps.

The launch marks Boost's shift from an eWallet and digital lender to a broader financial ecosystem. It builds on nearly a decade of serving Malaysian businesses, aiming to help underserved SMEs go digital.

Why it matters

Boost SME tackles the pain of managing payments, settlements, reconciliation, and financing for small business owners. It provides a single view of finances, role-based account management, and payment acceptance through DuitNow QR, online payments, and in-store card payments. Merchants can receive same-day DNQR settlements, including weekends and Malaysian public holidays.

Sheyantha Abeykoon, Group CEO of Boost, said: "As Malaysia's digital economy continues to evolve, businesses need financial services that work seamlessly together rather than in silos." He added that the platform aims to remove friction from every financial interaction.

Impact on Malaysia

Boost SME offers two products: Boost Grow and Boost Flow. Boost Grow lets businesses earn 3.0% p.a. daily interest with no lock-in period or minimum balance. Boost Flow provides a 0.1% sales rebate of up to US$500 (RM2,000) on monthly sales and access to Merchant Cash Advance offers with credit limits starting from US$2,400 (RM10,000) for merchants transacting US$500 (RM2,000) or more over 30 days.

SMEs can also access Boost Bank's Biz Loan, offering financing up to US$74,000, with approvals in as little as 10 minutes and disbursement within 24 hours upon acceptance. These features aim to simplify financial management for Malaysian businesses.

Ecosystem support

Beyond financial services, Boost SME supports business digitalisation through complimentary AWS e-Invoicing subscriptions and training for eligible merchants. It also offers complimentary Soundbox Lite devices while stocks last. The launch is supported by ecosystem partners including Parkson Credit.

This partnership aims to help Malaysian businesses access technology-driven financial solutions. The platform is available at www.myboostsme.co or via the Boost SME app on Apple App Store and Google Play Store.

What's next

Boost SME is now open to Malaysian SMEs. The platform's features—from fast onboarding to same-day settlements—are designed to reduce operational burdens. With the inclusion of financing options like Biz Loans, it may help more businesses manage cash flow.

The company has not announced a timeline for expanding beyond Malaysia. For now, the focus is on getting existing merchants and new users onto the platform. Early adoption will likely determine how quickly Boost scales the offering.

Key numbers

• Account opening in as fast as 5 minutes
• 3.0% p.a. daily interest with Boost Grow
• 0.1% sales rebate up to US$500 (RM2,000) with Boost Flow
• Merchant Cash Advance credit limits from US$2,400 (RM10,000)
• Biz Loans up to US$74,000, approvals in 10 minutes, disbursement in 24 hours