iPrice Group, a Malaysia-based e-commerce platform helping shoppers find the best deals online, said Wednesday it is laying off 20 percent of its staff.

The layoffs are part of several measures to focus the business on its core mission “to help people save money” shopping online, iPrice said in a statement.

The move comes three months after the company announced a $5 million investment from Japanese Conglomerates Itochu Corporation and KDDI Corporation.

According to iPrice proprietary data, two-thirds of shoppers in Southeast Asia overpay by more than 10 percent when shopping online. iPrice said it solves this problem by comparing prices, promotions and seller discounts across its vast catalogue of 7.5 billion+ offers collected from thousands of sellers and marketplaces. The best offers are then surfaced on the iPrice website, which can be seen as Google for products in Southeast Asia.

In addition, the company offers users additional savings via the most comprehensive coupons offering in the market.

Over the years, iPrice expanded the business from its website to offer a full-suite white-label marketplace solution for super apps, including buy now pay later (BNPL) providers and recently started building its app to capitalize on the 100 million+ users who visit iPrice websites every year.

“Whilst we proved these new services all resonated with online shoppers, they each required further investment with a longer-term payback. In today’s uncertain economic environment, it’s important to be hyper-focused on the company’s core product,” said iPrice Group Co-Founder David Chmelař.

While iPrice will refocus on its core mission, it said partnerships will continue as a subscription model with a focus on providing interested players access to SEA’s best-curated product catalogue and rich data about the regional e-commerce landscape.

“iPrice team is a strong community, so it was a tough decision to reduce our team in line with the refocus on our core business. With these changes, however, we are in a stronger position to deliver on our core mission to help people save money,” said iPrice Group Chief Executive Officer Paul Brown-Kenyon.

In the retrenchment process, iPrice said it will follow all contractual and legal requirements and is actively helping those staff who have been let go find new opportunities.

Malaysia’s iPrice Group raises $5M from Itochu Corporation and KDDI Corporation