Oradian, a Croatia-based software-as-a-service (SaaS) company, recently won a contract with Jirani Smart, a microfinance institution (MFI) that has been active rural Kenya since 2016. As of 2018, Jirani Smart serves approximately 15,000 clients from seven branches.
Oradian’s flagship product is Instafin, a core banking platform for microfinance institutions. Under the SaaS model, customers access software via the internet, reducing the need for them to purchase and maintain computer servers.
Oradian was founded in 2012 and works with 70 financial institutions servicing approximately 2.5 million customers as of 2018. In addition to Croatia, the company has offices in Nigeria and the Philippines. Over the past two years, Oradian held multiple funding rounds, raising a total of GBP 100,000 (USD 133,000).
By Michelle Fleming, Research Associate
Sources and Additional Resources
Oradian press release: “Oradian Enters 10th Market on its Mission to Drive Financial Inclusion Globally”
https://www.microfinancegateway.org/sites/default/files/announcement/press_release_oradian_10th_market_announcement_1.pdf
Oradian website
https://oradian.com
Jirani Smart website
http://jiranismart.com
Tech Target definition: “software as a service”
https://searchcloudcomputing.techtarget.com/definition/Software-as-a-Service
Crunchbase profile: Oradian
https://www.crunchbase.com/organization/oradian#section-ipo-stock-price
MICROCAPITAL BRIEF: Oradian Raises Seed Funding to Scale its Instafin Banking Software Platform Across West Africa
https://www.microcapital.org/microcapital-brief-oradian-raises-seed-funding-to-scale-its-instafin-banking-software-platform-across-west-africa/
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
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