Fintech Just Made a Big Leap Forward in Croatia

When Microblink, an R&D company based in Zagreb, Croatia, started out in 2013, it had to rely on its founders’ finances, because outside investments were hard to come by.

With its Adriatic coastline and breathtaking landscapes, Croatia is a Balkan country mostly known as a tourist destination. But now its fintech industry, especially the digital-payments sector, is also beginning to make its mark.

When Microblink, an R&D company based in Zagreb, Croatia, started out in 2013, it had to rely on its founders’ finances, because outside investments were hard to come by.

But a year later, the company had its first big success: Photomath, an educational app that reads and solves mathematical problems by using the camera on mobile devices. Over the years, the app has had more than 100 million downloads and received ovWer €5m ($5.95m) in investment.

Nowadays, Microblink has a presence in the US, Europe, and Southeast Asia, developing AI-powered scanning and data-extraction products that are used by more than 100 million end users.

The company mainly works with banks and mobile banking software providers, which then implement Microblink’s technology in their own mobile apps.

Microblink has also received numerous accolades from the fintech industry during the past few years. In 2019, Deloitte listed the company among the 500 fastest-growing companies in the Europe, Middle East and Africa region.

“We made a name for ourselves in the fintech industry, which will always have a special place in our heart. In fact, our first product, PhotoPay, has revolutionized the field with simplified bill payments,” Microblink co-founder and CTO Jurica Cerovec tells ZDNet.

digital-payment balkans fintech croatia big data

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