Malaysian Fintech Company Jirnexu Closes US$ 11 Million Series B.

Malaysian based fintech startup Jirnexu, has actually closed an US$ 11 million Series B round. Making their second financial investment in Jirnexu, Japan-based SBI Group led the most recent round, signed up with by brand-new US-based investor SIG Asia Investments (SIG). With total funding now US$ 17 million, Jirnexu is among the finest moneyed startups in Malaysia. This follows theirJirnexu's proprietary XpressApply innovation automates marketing, sales and delivery of intricate monetary items for financial service institutions (FSIs)-- banks and insurance provider. It is incorporated with Jirnexu's consumer-facing online monetary aggregators (OFAs), RinggitPlus in Malaysia and KreditGoGo in Indonesia, which provide customers a single online resource to compare banking, life insurance and general insurance products. Together, XpressApply and the OFAs form a complete stack platform to draw in, maintain and monetise clients through digital channels.In partnership with RHB Bank, Jirnexu released a chatbot for processing individual loans online in 2017. The XpressApply Chatbot extends the capabilities of Jirnexu's platform, permitting companies and brands to engage with customers in their favored messaging app, and assess and process their requests rapidly and quickly. Jirnexu is now launching the XpressApply Chatbot with 5 more banks-- Maybank, Public Bank, AEON, UOB, and Japan Credit Leasing on continued,"The next stage of our innovation roadmap will resolve continuing discomforts points for FSIs, consisting of customer digital identification and eKYC(electronic know your customer), allowing us to offer extremely personalised and pertinent financial items anytime, anywhere. In the coming year, Jirnexu will automate digital danger assessment and client confirmation, procedures that are hindered by an absence of data and handbook, paper-based approaches.""To support our development, we're on the lookout for a

RinggitPlus CTO, Digital Marketing Head, along with service unit leaders who can drive our expansion throughout technology innovation, FSI acquisition and management, and customer financial services,"Siew concluded.Ryosuke, CEO & Handling Director, SBI Ven Capital Ryosuke Hayashi,, said,"SBI values the intricacy of monetary

services-- with & each vertical and product having its own capacity

for digital disruption. Jirnexu continues to demonstrate unique worth in their goal to lead across all verticals and phases of the value chain-- an exciting endeavour in among the world's fastest growing mobile-first markets."RinggitPlus deals with the largest number of banks and insurance providers, and supplies the best variety of online customer financial products, compared with any other Malaysian OFA. It is also Malaysia's very first online marketplace for insurance items, selling, processing payments, and issuing e-policies. The site is the leading Malaysian OFA, drawing in two times more visitors than the second largest OFA over the last 6 months1.In Q42017 worldwide financial investment in fintech business struck US$ 8.7 billion, with US$ 748 million invested in Asian business. Frost & Sullivan estimates that the APAC fintech market will reach US$ 72 billion in 2020.

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