Finance in Motion, an adviser in impact investing, has purchased an equity stake in Croatia-based financial technology firm Oradian.

Finance in Motion said that that it was interested in Oradian’s cloud-based platform Instafin, which is designed to enable microfinance institutions and banks to avoid initial costs and enhance performance. Instafin incorporates the Software as a Service (SaaS) model.

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 added: “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.”