• Jirnexu

  Participated · Series A · May 2016

  Jirnexu operates financial comparison services that aggregate offerings and deals from banks and financial-services companies in Malaysia and Indonesia. Its platform functions as a user acquisition channel to help financial institutions reach new audiences and customers. The company is headquartered in Kuala Lumpur. In May it closed an $11M Series B led by SBI, and it has since received an additional $10M investment led by Experian. The Experian-led investment is intended to bring improved demand generation, better eligibility matching through analytics, and more seamless consumer experiences. The new funding brings Jirnexu's total capital raised to $28 million to date. Jirnexu operates consumer-facing financial comparison platforms in Malaysia (RinggitPlus) and Indonesia (KreditGoGo) that aggregate product offers from banks and financial firms including Citibank, HSBC, Standard Chartered and UOB. The company functions as a user-acquisition channel for financial organizations and has expanded beyond basic banking products into insurance and e-policies. Jirnexu has introduced chatbots with five financial organizations to simplify sign-up and selection. Management is prioritizing consumer digital identification and eKYC to better tailor suggested packages. The startup is hiring senior executives and operational staff, including a CTO, to build out the business and push into new financial verticals. Leadership says recent funding provides multi-year runway to pursue longer-term projects before considering market expansion. Jirnexu offers customer acquisition and lifecycle management solutions for banks, insurance companies and service providers, encouraging mobile-first lead generation, fulfilment and customer retention. Its product suite includes XpressApply for secure digital application submissions, RinggitPlus, a Malaysian consumer financial aggregator, and KreditGoGo, a sister site servicing Indonesia. Led by CEO Yuen Tuck Siew, the company is based in Kuala Lumpur and has more than 100 employees. Jirnexu raised $1.5m in its latest funding round and has raised $6m in total to date. Backers in the latest round included DMP, Gobi Partners and OSK Ventures International Berhad. The company intends to use the funds to expand operations and continue developing its online financial aggregators. Jirnexu, formerly Saving Plus, runs consumer comparison sites RinggitPlus (Malaysia) and KreditGoGo (Indonesia) and is building bank-facing products including XpressApply, a platform to handle online credit card, loan and other banking applications. The company says its comparison sites reach “tens of millions of visitors,” generate about 450,000 leads for banks and have produced “tens of thousands” of approved customers and accounts. XpressApply—including a white-label version slated to launch in the second half of the year—aims to shorten application processes to roughly 10 minutes, reduce paperwork, speed decisioning and improve engagement for lenders. Jirnexu claims that removing call centers can lift customer conversation rates by as much as 200% and that call-center complaint levels are seven times higher than initial complaint volumes from XpressApply. The startup was founded in 2012 by CEO Yuen Tuck Siew and remains committed to its consumer-facing sites while pushing deeper into digital-first bank products. Management says it plans a Series B later this year to expand its comparison sites across more Southeast Asian countries and to develop additional bank-focused offerings.

• Jewel Paymentech

  Led · Series A · Jan 2016

  Jewel Paymentech is a Singapore-based fintech founded in 2014 by Sean Lam that provides intelligent solutions for banks and payment facilitators to conduct merchant due diligence and manage transaction fraud risks using predictive analytics. It also offers automated solutions to large merchants and marketplaces to identify illegal and counterfeit goods as part of their KYC process. The company intends to use the funds to expand its team of developers, data scientists and business development managers to support its client portfolio across Asia. It also plans to roll out new solutions. Jewel Paymentech is a recipient of the ACE startup grant awarded by SPRING Singapore. In January 2016 it raised over S$1.5M in a Series A funding round.

No current team members are available.