Treasure Global Inc (Nasdaq: TGL) (“TGI”, or the “Company”), an innovative e-commerce platform providing seamless payment solutions and rewards programs, today announced that it has signed a Memorandum of Understanding (“MOU”) for a strategic partnership in Malaysia with Boost, a regional full spectrum fintech player. The partnership will leverage digital financing solutions from Boost Credit, an AI-based lending business which offers a range of lending services such as capital, invoice financing and supply chain financing to financially empower, small, and medium enterprises (“SMEs”) in Malaysia.
Under the agreement, Boost Credit’s digital financing solutions will be onboarded into TGI’s Tazte program, connecting TGI with a growing network of merchants and Food and Beverage (“F&B”) providers as potential users of its Tazte and ZCITY platforms. In addition, the partnership increases TGI’s brand exposure, building awareness amongst the Malaysian business and F&B providers.
“The strategic partnership with Boost is key in expanding TGI’s reach with merchants and F&B providers throughout Malaysia, enabling us to onboard them directly as users to our Tazte platform,” said Sam Teo, Chief Executive Officer of TGI. “Collaborating with the regional fintech player is also significant for TGI to strengthen our brand awareness and credibility in the region as a valued provider of innovative payment solutions. This is a key example of TGI executing on our strategic plan to secure relevant partnerships in South-East Asia, through which we can offer solutions to their members and increase our reach and conversion to users on our channels.”
“Our core focus at Boost has always been to narrow the financial inclusion gap by empowering SMEs with simplified digital financial tools, so that they can continue their business aspirations without financial worry. Through our partnership with TGI, Tazte’s network of merchants will receive digital financing support through Boost Credit and in turn, our base of merchants will be able to leverage Tazte’s platform to streamline their operations and management systems. For us, this is another step in paving the way for the underserved community to be unstoppable to achieve their business goals,” said Sheyantha Abeykoon, Group CEO of Boost.