Croatia-based ORADIAN, a developer of core technology platforms for microfinance institutions, mostly in developing countries, recently announced a new funding round from top tier investors (Update – July 2023: The startup seems to be no longer in business under this website, and we therefore deactivated the original link).
The company secured the funding from new investors, both angels and venture capital 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.
Last year I met Antonio Separovic, the CEO and founder of ORADIAN, in Split. 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 that radically transforms how these institutions do business and allows them to leverage technology to empower 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, of Credo Ventures.
Credo Ventures is one of the most active venture capital firms investing in Central European startups across the IT and internet sectors. Credo Ventures recently raised a new fund with €40 million 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 was recently nominated for The Europas Awards in the ‘Best European Startup Aimed At Improving Society’ category.
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