Saving Plus, a Malaysia-based financial comparison startup, has completed a $3m Series A funding round, to expand to digital banking services.

The funding round was led by Singapore-based venture capital firm DMP, global investors Celebes Capital, NTT DOCOMO Ventures, Nullabor, Tuas Capital Partners and Anfield Equities, taking the firm’s total funding to $4.5m.

The company, now rebranded as Jirnexu, will use the funding to drive development of products including XpressApply.

XpressApply, a digital application workflow management solution and CRM platform, has been designed to reduce the consumer application process for financial products to around 10 minutes.

From the second half of this year, the firm plans to roll out XpressApply as a business-to-business managed service.

Jirnexu CEO Yuen Tuck Siew said: "Financial service institutions in Southeast Asia still rely on labour intensive customer acquisition practices. Expensive telesales, hard to manage direct sales agents, paper forms, long queues at bank branches, high rejection rates for minor errors – all of these make acquiring customers slow, inefficient and costly.

"At Jirnexu, we offer comprehensive solutions for businesses to attract, retain and monetize connected consumers in high-growth markets."

Jirnexu currently operates financial comparison websites RinggitPlus in Malaysia and KreditGoGo in Indonesia. It has a network of partnerships with financial providers and telecom firms including Alliance Bank, AEON, Citibank, HSBC, Manulife, OCBC Bank, RHB, Standard Chartered, Tokio Marine Life, U Mobile, and XOX Mobile.