Jirnexu

Jirnexu Sdn Bhd (Jirnexu) is a Southeast Asian financial technology startup headquartered in Kuala Lumpur, Malaysia.[1] The company provides technology to help financial institutions manage different stages of the customer journey: marketing, acquisition, fulfilment and retention.[2][3] It currently has business-to-business (B2B) and business-to-consumer (B2C) operations in Malaysia and Indonesia.[4][5]

JIRNEXU
TypePrivate
IndustryFinancial Technology
Founded2012
HeadquartersKuala Lumpur,
Malaysia
Key people
Yuen Tuck Siew
(Chief Executive Officer)
Liew Ooi Hann
(Chief Financial Officer)
James Barnes
(Chief Operating Officer)
Lucas Ooi
(Chief Commercial Officer & Head of Insurance)
Cedric Viver
(Chief Technology Officer)
James Wong
(Chief Business Development Officer)
Productsringgitplus.com
ServicesOnline financial aggregator, customer lifecycle management
Number of employees
51 - 100 (2017)
Websitejirnexu.com

History & background

Jirnexu was formerly known as Saving Plus.[6] In 2012, former Citi banker Yuen Tuck Siew and James Barnes founded RinggitPlus.com, a comparison and application website for financial products in Malaysia.[7][8]

The website was officially launched in 2013 to allow comparison of and application for credit cards, home loans, car loans, investments and insurance schemes.[9]

In 2014, RinggitPlus.com merged with SaveMoney.my, an online portal that provides information on different credit cards, car loans, phone, travel and shopping in Malaysia.[10] SaveMoney.my was founded by Liew Ooi Hann and Lucas Ooi in 2012.[9] Following the merger, Saving Plus Sdn Bhd was incorporated while RinggitPlus.com continued to operate as a comparison website.[11]

In 2016, Saving Plus rebranded itself to Jirnexu;[4][12] the name means “prosper” in Maltese.[13] The company launched XpressApply, an online application and CRM technology as part of its business to provide financial institutions a channel to reach consumers digitally by handling banking product applications online.

Several venture capital firms have funded Jirnexu, including SBI Group, Celebes Capital, NTT DoCoMo Ventures, Nullabor, Tuas Capital Partners, Anfield Equities, Digital Media Partners, Gobi Partners, OSK Ventures International Berhad and private investor Steve Melhuish.[14][4][15][16]

In October 2017, Jirnexu reported having total funding of US$8.0 million.[17][18]

In July 2021, Jirnexu announced that it has signed strategic partnership agreements with more than five consortia in their bids for a Malaysian digital banking license.[19] Bank Negara Malaysia (BNM), the central bank of Malaysia will announce up to five successful applicants for digital banking licenses in the first quarter of 2022.[20]

See also

References
  1. Yong, Dion (2017-03-23). "Malaysia's Jirnexu Closes Series A With US$4.5 Million For Full-Stack Fintech Software". Asia Finance. Retrieved 2017-04-21.
  2. "Fintech firm Jirnexu adds US$1.5M to its Series A, aims to complete Series B by early 2018". e27. Retrieved 2017-04-21.
  3. Graham, Ben (2017-03-23). "Full-stack FinTech provider Jirnexu closes Series A with $4.5m - Fintech Roundup". Fintech Roundup. Retrieved 2017-04-21.
  4. Russell, Jon. "Southeast Asia financial comparison startup Jirnexu lands $3M to expand to digital banking services". TechCrunch. Retrieved 2017-04-21.
  5. "Malaysians don't just compare, they want to buy financial products online: Report". Digital News Asia. 2016-08-25. Retrieved 2017-04-21.
  6. "Cover Story: The accidental fintech firm". The Edge Markets. 2017-06-16. Retrieved 2017-11-02.
  7. Ting, Henry (2015-12-23). "Yuen Tuck Siew, Co-Founder of Saving Plus - The Asian Entrepreneur". The Asian Entrepreneur. Retrieved 2017-04-21.
  8. Ramchandani, Nisha. "The rise and rise of chatbots". The Business Times. Retrieved 2017-11-02.
  9. Khoo, Jean (2015-05-19). "7 Financial Comparison Websites To Help You Make Wise Decisions In Malaysia". Vulcan Post. Retrieved 2017-04-21.
  10. "Consumer portals confident of US$1m revenue with tie-up". NST Online. 2014-11-25. Retrieved 2017-04-21.
  11. "RinggitPlus.com and SaveMoney.my announce March merger". Digital News Asia. 2014-11-25. Retrieved 2017-04-21.
  12. "Southeast Asia Fintecher Jirnexu Raises $3M Series A Funding". Crowdfund Insider. 2016-05-24. Retrieved 2017-04-21.
  13. "Fintech startup Saving Plus rebrands to Jirnexu, raises US$3m Series A". 2016-05-24. Retrieved 2017-04-21.
  14. "Fintech CRM Provider Rebrands as Jirnexu as $3m Series A Funding Announced | Finance Magnates". Finance Magnates | Financial and business news. 2016-05-24. Retrieved 2017-04-21.
  15. "Fintech funding round-up: 23 March 2017 » Banking Technology". www.bankingtech.com. Retrieved 2017-04-21.
  16. "Malaysian fintech Jirnexu closes $4.5M Series A round, kicks off Series B discussions - DealStreetAsia". www.dealstreetasia.com. Retrieved 2017-04-21.
  17. "Malaysia's Jirnexu raises $1.5 million for fintech software". VentureBeat. 2017-03-22. Retrieved 2017-04-21.
  18. Ellis, Jack. "Fintech solutions startup Jirnexu nets $2m in pre-series B funding". www.techinasia.com. Retrieved 2017-11-02.
  19. "Jirnexu Inked Deals With More Than Five Digital Banking Consortia". Fintech News Malaysia. 2021-07-21. Retrieved 2021-07-27.
  20. "Bank Negara Malaysia receives 29 applications for digital bank licences - Bank Negara Malaysia". www.bnm.gov.my. Retrieved 2021-07-27.
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