There's less than a week to go until WIRED Money, our landmark one-day summit featuringsome of the most forward-thinking innovators and entrepreneurs in the world of businessand finance. The BBVA Ventures Startup Stage will run alongside the Main Stage talks. A wide range of fast-growing businesses working in the banking and finance space will introduce their organisations and explain their objectives, aims and applications.
We put the spotlight on four of those businesses. First up: global technology provider Oradian.
Founders: Antonio Separovic, Julian Oehrlein, Andrew Mainhart, Onyeka Adibeli Launched: 2012 Headquarters: Zagreb, Croatia Staff: 20 Funding: Seed round for an undisclosed amount Investors: Credo Ventures, Playfair Capital, Day One Capital, Esther Dyson, Moaffak Ahmed and Pule Taukobong (Africa Angels Network).
**What is your USP?**We know financial institutions in developing markets. We have deep practitioner level experience. Using that knowledge we have built, and will continue to build, solutions that work for our customers, blending experience with solid technology to deliver much-needed solutions to businesses serving the base of the pyramid.
Our position is simple: we know what's needed. We're the solution. You can trust us. We're here for you.
**How do you make money?**Worldwide there are tens of thousands of financial institutions attempting to solve the problem of financial exclusion. These entities range in size from large banking organisations serving millions of end clients to small non-profits serving several hundred end clients -- in places like Nigeria, Ghana, Liberia, etc. Our Instafin product is a cloud-based core banking solution that helps all of these players deliver much-needed financial services to the base of the pyramid in a more efficient and effective way.
We charge our customers based on the number of end clients they serve. As more people gain access to the benefits of financial services we grow. As our customers grow we grow.
**Who do you view as your competitors?**With half of the global adult population in need of better, more reliable and more accessible financial services, our customer base is strong and growing. In our opinion, we could use some competition in the market. While there are a few incumbents, like Mifos, Loan Performer etc., they are as much part of the problem as they are part of the solution. More often than not they rely on out-dated solutions and pricing models that cause confusion and uncertainty. Meanwhile, there are one or two new players with similar positions to ours with one huge exception -- they don't understand the market; we do!
Growing up, living and working in North America or Europe creates a certain set of expectations and experiences. These expectations and experiences can be useful in any business situation, regardless of location. However, the realities of life in the markets we serve require a new set of understandings and new ways of doing business. The Oradian team has been working and living in these environments for years -- in some cases since birth. We've been actively seeking solutions for our customers for decades, and with Instafin we've found it.
**How would you sum up your company ethos?**Simply put we remove the BS. We make solutions that work. We care. For too long, people and organisations in our target markets have spent enormous resources and efforts just to stay alive or stay in business. Oradian is a company all about caring for each other, our customers and our customers' customers. We believe that the right solutions can make life and business easier by cutting through the crap that gets in the way of success.
**What has been the most challenging time for Oradian?**Solving this problem is an enormous undertaking. Our solution is not a simple app. Our focus is at an enterprise level, looking to solve problems for institutions needing new ways to deliver services in difficult markets. As a result, it has taken a lot of time and resources to get the flywheel moving, but now it is turning and we are looking to accelerate growth over the next year.
**Where do you see Oradian in five years time?**Serving 100 million families with seamless access to a string of financial services.
WIRED Money, Together with BBVA takes place on July 8, 2015 at The British Museum. WIRED subscribers save 10 per cent on tickets. We also have a limited number of half-price tickets for finance sector startups. For more information or to register, please visit www.wired.co.uk/money15.
This article was originally published by WIRED UK
