Axo AS, a leading distributor of personal finance products in the Nordic region and portfolio company of Corsair, a leading private equity firm targeting payments, software and business services investments in the financial services sector, today announced that it has acquired Defero, a digital credit-scoring and financial management platform in the Nordic region. Financial terms of the transaction were not disclosed.
“Catering to consumers’ financial needs is fundamental to Axo’s goal of becoming the premier pan-Nordic platform for personal finance”
Founded in 2018, Defero empowers consumers to make better financial decisions through its free credit-scoring and financial management platform that is tailored to each member’s credit profile and financial needs. Defero has over 400,000 users across the Nordic region. Defero provides consumers with an assessment of their credit score combined with a full view of their credit profile and offers them the ability to make changes through a variety of financial options. Defero also offers consumers a platform for budgeting and financial management, in addition to property and car valuations through its Premium offering. Following the transaction, Defero’s CEO will join the Group Management Team of Axo Group.
“Catering to consumers’ financial needs is fundamental to Axo’s goal of becoming the premier pan-Nordic platform for personal finance,” said Jostein Christian Dalland, CEO of Axo. “The addition of Defero’s consumer-focused platform and credit analytics capabilities solidifies Axo as the broker-of-choice in the Nordics. Building on our 2021 acquisition of tech-enabled loan broker LendMe – which has fuelled our expansion into new markets and adjacent product verticals – adding Defero’s highly personalized tools to our platform will better equip consumers with the information they need to achieve their financial goals.”
“Thanks to the incredible work of our entire team, we have built Defero into a leading specialist in consumer credit and financial management,” said Eigil Arff Tarjem, CEO of Defero. “Under Axo’s ownership, we will be able to invest in new products and technologies, improve conversion rates by implementing an end-to-end customer journey within our platform, and capture a greater share of the market throughout the Nordic region and beyond. I am incredibly proud of Defero’s success and I am confident this transaction is the logical next step in the evolution of our Company.”
Also Read: MSM Group, Inc. Awarded NASA Enterprise Contract for Cloud Hosted SaaS Contract Management Software
“Axo’s acquisition of Defero strengthens the Company’s position as the premier distributor of innovative financial services products in the Nordic region,” said Corsair Partner Derrick Estes and Managing Director Edward Wertheim. “We continue to see significant room for growth and adding Defero’s consumer-focused personal finance products will further accelerate Axo’s strong trajectory by increasing customer engagement, enhancing its ability to provide consumers with tailored financial solutions, and creating additional value for partners. The transaction will also give Axo the ability to explore new products and efficiently expand internationally and we look forward to continuing to support the Company as it executes on those opportunities