Founders of Jirnexu step down from executive roles

Jirnexu co-founder Hann Liew / Photo credit: Ernst & Young

Hann Liew and Lucas Ooi, co-founders of Malaysia-based fintech firm Jirnexu, are leaving their executive roles at the company, Liew announced in a LinkedIn post.

Previously, Liew was an executive director and Ooi was corporate development director. Other founders include Yuen Tuck Siew, who will continue to serve as the CEO. Both Liew and Ooi plan to remain as shareholders and board members.

Founded in 2012, Jirnexu was formerly known as Saving Plus. It provides online tools and advice to its users and helps banks and insurance companies streamline their application processes. Later, it claimed to be the first full-stack fintech company in Southeast Asia.

The firm launched financial comparison websites RinggitPlus in Malaysia and KreditGoGo in Indonesia in 2013 and 2014, respectively. These businesses then merged with SaveMoney.my, an online portal for information on financial products.

Liew and Ooi, who co-founded SaveMoney.my, joined RinggitPlus as CEO and director of insurance, respectively. In 2016, Saving Plus rebranded to Jirnexu, while raising US$3 million in series A funding.

Jirnexu is currently “profitable” with an annual recurring revenue of over 50 million ringgit (US$10.7 million), Liew said. The company has 1.5 million customers.

Other members of the executive team include co-founder and chief operating officer James Barnes, chief commercial officer  Jack Low, and CFO Khoon Eong Lim.

To date, Jirnexu has secured at least US$37 million in funding, including the latest US$10 million series B investment from consumer credit firm Experian, according to Crunchbase‘s data.

See also: Pleasant surprise in Malaysia’s digibank race

Currency converted from Malaysian ringgit to US dollar: US$1 = 4.67 ringgit.