Croatia-based microfinance systems provider Oradian gets angel & VC funding

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I met Antonio Separovic, CEO and founder of Croatia-based ORADIAN a year ago in Split. He is a great businessman with a great vision. Oradian is a developer of core technology platforms for microfinance institutions, mostly in developing countries. This week, Oradian announced new funding from top tier investors.

The firm secured the funding from new investors, both angels and VC firms, including Credo Ventures, Playfair Capital, Day One Capital, Esther Dyson, Moaffak Ahmed and Pule Taukobong (Africa Angels Network). The round will be used “to continue scaling across West Africa and to expand Oradian’s team, both in Zagreb and Nigeria.

Oradian was launched in 2012 by Separovic together with Andrew Mainhart, Julian Oehrlein and Onyeka Adibeli. All four had previously worked in the microfinance sector, as practitioners and vendors, across Sub-Saharan Africa, South-East Asia, Europe and Latin America. After experiencing first-hand the inability of existing core-banking solutions to cater to the unique needs and challenges of microfinance institutions, the four joined forces to build Oradian’s flagship product, Instafin, a cloud-based core banking platform which radically transforms how  these institutions do business and allows them to leverage technology to empowering their customers.

“With this funding, we will power our geographical expansion, both in our home market of Nigeria and across West Africa, as well as continue the development of our platform and growth of our technology offerings and third party integrations.” commented Separovic.

“With its highly experienced team of industry professionals, we believe that Oradian has a chance to become a leading software provider for financial inclusion, and ultimately to harness the network effects of a potentially massive client base.” said Jaroslav Trojan, Credo Ventures.

Credo Ventures is the most active venture capital firm that invests in Central European startups across IT and Internet. Credo Ventures recently raised a new fund with €40M from HNW individuals and is actively looking for CEE startups with global ambition, high revenue growth potential, proven team, large market, and great products.

Oradian has been recently nominated for The Europas Awards in the “Best European Startup Aimed At Improving Society” category.