Financial services provider SBI has led an $11m series B round for Jirnexu, the Malaysia-based operator of an online platform that compares financial products, Tech in Asia has reported.
SIG Asia Investments, a subsidiary of trading and technology firm Susquehanna Investment Group, also participated in the round, which increased Jirnexu’s overall funding to $17m according to Tech in Asia.
Jirnexu operates financial comparison sites covering Malaysia and Indonesia, and has also built a tool called XPressApply that makes the process of selecting a policy easier and more efficient.
The company raised $3m in series A funding in mid-2016 from NTT Docomo Ventures, a subsidiary of mobile network NTT Docomo, as well as DMP, Celebes Artha Ventura, Tuas Capital Partners, Nullabor, Anfield Equities and angel investor Steve Melhuish.
SBI led Jirnexu’s $2m pre-series B round in October 2017, investing alongside Celebes Artha Ventura and Cento Ventures.