<article>Malaysia-based <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/jirnexu-secures-3m-series-a-investment-41805/" target="_blank" rel="noopener">fintech startup Jirnexu</a> has raised $2 million in a pre-Series B round led by Japanese financial services firm <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/japans-sbi-group-invests-6-3-million-indonesian-p2p-lending-taralite-72620/" target="_blank" rel="noopener">SBI Group</a> and joined by existing investors <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/jirnexu-secures-3m-series-a-investment-41805/" target="_blank" rel="noopener">Celebes Capital </a>and <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/54920-54920/" target="_blank" rel="noopener">Cento Ventures</a>.</article>

Malaysia-based <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/jirnexu-secures-3m-series-a-investment-41805/" target="_blank" rel="noopener">fintech startup Jirnexu</a> has raised $2 million in a pre-Series B round led by Japanese financial services firm <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/japans-sbi-group-invests-6-3-million-indonesian-p2p-lending-taralite-72620/" target="_blank" rel="noopener">SBI Group</a> and joined by existing investors <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/jirnexu-secures-3m-series-a-investment-41805/" target="_blank" rel="noopener">Celebes Capital </a>and <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/stories/54920-54920/" target="_blank" rel="noopener">Cento Ventures</a>.
Founded in 2012, Jirnexu provides banks and insurance companies with a full stack solution to effectively increase sales by attracting, retaining and monetising consumers. The latest round brings its aggregating funding to $8 million.
In fact, the startup that claims to be on track to reach cash flow break-even by 2018 is now already embarking on its Series B &#8220;with the aim to close by mid-2018,&#8221; CEO Yuen Tuck Siew told DEALSTREETASIA in an email interaction on Wednesday.
&#8220;We raised more than expected in this round – we initially planned for it be a smaller internal round with existing shareholders but we were very excited by the opportunity to work with Japan-based SBI Group,&#8221; Siew added.
The startup closed a $3 million Series A funding round in March this year led by Singapore-based venture capital firm DMP, Celebes Capital, NTT DOCOMO Ventures, Nullabor, Tuas Capital Partners, Anfield Equities and PropertyGuru co-founder and angel investor Steve Melhuish.
Jirnexu’s fintech solution is driven by XpressApply, a proprietary data-driven platform that enables FSIs to reach online and mobile-first consumers. The company claims to have signed over half of the consumer banks in Malaysia. For any segment of financial services that the firm offers, its medium-term goal is to achieve 10 per cent market share.
While there are a few regional and global financial aggregators in the market, Jirnexu claims to be Southeast Asia’s only full-stack fintech solution provider for banks and insurance companies. The startup operates online financial comparison sites RinggitPlus in Malaysia and KreditGoGo in Indonesia. It is targeting all banks and insurance companies in Southeast Asia for digital sales and evaluating its third market in ASEAN for an online financial comparison site.
In Southeast Asia, Jirnexu is targeting the $25 billion market in sales commissions for consumer banking and insurance products and the $35 billion market for multi-channel and distribution financial technology in EMEA.
With regard to competition from bigger players, Siew noted that Jirnexu’s business strategy has been to invest in developing its core technology, XpressApply, and to raise the barrier to entry for competitors. &#8220;While larger players such as Ant Financial can bring vast geographic coverage and a wide variety of services, Jirnexu brings a deep expertise and unique value proposition to existing markets,&#8221; he said.
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<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/jirnexu-secures-3m-series-a-investment-41805/" target="_blank" rel="noopener">Singapore: Fintech startup Jirnexu raises $3m Series A led by Digital Media Partners, others</a>
<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/japans-sbi-group-invests-6-3-million-indonesian-p2p-lending-taralite-72620/" target="_blank" rel="noopener">Japan’s SBI Group invests $6.3m in Indonesian P2P lender Taralite</a>
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Jirnexu has raised $2 million in a pre-Series B round led by SBI Group and joined by existing investors Celebes Capital and Cento Ventures.

MY: Fintech startup Jirnexu raises $2m in pre-Series B round led by SBI Group

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MY: Fintech startup Jirnexu raises $2m in pre-Series B round led by SBI Group

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