Southeast Asian fin-tech Jirnexu announced a $2 million pre-Series B round this week.
SBI Group led the round with participation from Cento Ventures and Celebes. The company has attracted $8 million in funding so far.
Jirnexu provides a full-stack solution that helps companies attract, retain and monetize connected consumers. It is driven by XpressApply, a proprietary data-driven platform allowing institutions to reach online and mobile-first consumers. More than half of Malaysian consumer banks have adopted XpressApply, the company said.
“Since closing our Series A in March 2017, Jirnexu has continued to dominate the market, with our core technology as a key driver,” CEO Yuen Tuck Siew said.
“Serving consumer banks with a combined market share of 80 per cent, we offer Malaysians the widest range of online banking and insurance products. Having more than doubled the number of distribution agreements with banks and insurers this year, Jirnexu is on track to reach cash flow breakeven by 2018.
“Our goal is to help banks and insurance companies stay competitive in the digital era by increasing the efficiency, scalability, and security of digital sales channels, as well as providing a single platform to integrate each step in delivering financial services,” Mr. Siew added.
“With our latest funding, we will work with more financial institutions to innovate and reach underserved consumers.”