Oradian provides a finance management platform for personal banking to microfinance institutions (MFIs) operating in countries with underdeveloped banking infrastructure. Led by Antonio Separovic, the company is based in London, UK and Zagreb, Croatia. It initially focused on Nigeria, where it grew its customer base to 24 MFIs serving 489,000 end users. With support from the Philippine Central Bank, Oradian rolled out in the Philippines and now works with 18 MFIs. The company is also present in Ghana, Liberia, and Malawi. It will use the funds from this raise to continue expanding its business reach. Oradian offers Instafin, a SaaS platform used by banks and financial institutions to provide banking services where traditional infrastructure is lacking or in poor condition. The product is positioned to promote financial inclusion by enabling microfinance institutions and banks to serve more customers in remote or underserved areas. Oradian reports a client base of 200,000 in Nigeria accumulated over the last two years. Company leadership frames Oradian as a partner that helps microfinance institutions and banks build capacity for growth and transform their businesses. Finance in Motion noted the platform reduces the high costs associated with traditional hosted solutions, which can be a barrier for many institutions. The company’s stated mission is to reach people at the base of the economic pyramid and expand access to financial services. Oradian is a Croatian startup that provides Instafin, a cloud-based Software-as-a-Service platform to help microfinance institutions manage core-banking activity. Its customers are mainly microfinance providers in Nigeria, and the company aims to scale across West Africa. Oradian has raised an undisclosed seed round to support scaling and to expand its team in Zagreb and in Nigeria. Investors in the round include Credo Ventures, Playfair Capital, Day One Capital, Esther Dyson, Moaffak Ahmed and Pule Taukobong. Co-founder and CEO Antonio Separovic, who grew up in Cape Town and has a background in financial inclusion, says the product addresses MFIs' poor data and reliance on legacy software, spreadsheets, or pen and paper. Competitors mentioned in the article include Temenos, Fern Software, Craft Silicon and newer SaaS players such as Mambu.

Total raised

$0M

Funding rounds

3

Latest round

Equity

Latest activity

Feb 2018