07 December 2016
Press Release - Finance in Motion Partners with Fintech Firm Expanding Financial Inclusion through Banking Technology
Frankfurt am Main, Germany, 7 December 2016 -- Finance in Motion, one of the world’s leading advisors in impact investing, has announced the purchase of an equity stake in Oradian, based in Zagreb, Croatia, developer of a cloud-based banking system that supports financial inclusion in economically challenged regions.
The stake marks Finance in Motion’s first investment in the burgeoning financial services technology sector known as fintech. The company was attracted to Oradian’s pioneering cloud-based platform Instafin, an all-in-one solution for microfinance institutions and banks looking to avoid large initial costs and improve current performance.
Instafin, making use of the prevalence of stable cellular coverage in regions where cabling infrastructure and even electricity supply is questionable, is an ideal low cost, scalable and therefore low risk disruptive product based on the Software as a Service (SaaS) business model. Giving evidence to its robustness, one of its first users, a microfinance institution in Nigeria, operates in a region plagued by armed conflict and still managed to more than double its client base to 200,000 in just two years.
Finance in Motion Managing Director Florian Meister said: “We firmly believe in the transformative potential of financial services technologies such as Instafin. This product has established its ability to promote financial inclusion, one of our primary goals, by allowing microfinance institutions and banks to serve more customers, even in regions many people would be afraid to visit, let alone do business there. This product also eliminates the high costs associated with traditional hosted solutions, outlays that often create a significant market barrier for many institutions.”
Oradian Managing Director Antonio Separovic said: “Oradian is more than a software company – we’re a partner that helps microfinance institutions and banks to build their own capacity for growth, transform their businesses, and meet the needs of the 2.5 billion people worldwide at the base of the economic pyramid. We are excited to partner with one of the world’s leading impact investors because it shares our vision for helping microfinance institutions and rural banks to catalyse economic growth and give people access to financial tools that improve their lives. We hope to learn from Finance in Motion’s extensive experience in responsible finance and their work with leading service providers and partners in low- and middle-income economies.”
About Finance in Motion
One of the world’s leading advisors for impact investing, Finance in Motion focuses exclusively on for-profit funds promoting sustainable economic, social and environmental progress in emerging economies and developing countries. With more than EUR 1.5 billion in assets under management, the company leverages development aid through public-private partnerships. In line with the goals of its funds, Finance in Motion promotes long-term relationships and helps partners develop their business. Backed by 14 local offices spread through the more than 20 countries it serves, Finance in Motion advises the following development finance vehicles: the European Fund for Southeast Europe (EFSE), which finances micro-, small and medium enterprises (MSME finance); the Green for Growth Fund (GGF), which targets reduction of energy use and CO2 emissions; the SANAD Fund for MSME in the Middle East and North Africa; and the eco.business Fund, whose goal is the preservation of biodiversity and the sustainable use of natural resources. For more information, see www.finance-in-motion.com.
Oradian is the global technology provider developing solutions that enable financial inclusion. Our simple and intuitive cloud-based platform empowers financial institutions tackling the challenges to connect billions of potential clients at the base of the economic pyramid to financial services. We improve performance, access data in real-time, reduce costs and scale services quickly and efficiently. Using a Software as a Service (SaaS) model, Oradian’s flagship product, Instafin, enables microfinance institutions and banks, co-operatives and credit unions to serve the most rural clients affordably and effectively. Our team of technologists, finance specialists and economic development experts share a deep understanding of the very real challenges facing financial service providers in developing and frontier markets. Oradian is dedicated to bringing financial institutions the best possible solutions for their specific needs.
Media contact Finance in Motion
Tel: +49 69 271 035 307
Fax: +49 69 271 035110
Media contact Oradian
Krvavi most 2
10 000 Zagreb, Croatia
Tel: +385 1 3333 860