OSLO, Norway–(BUSINESS THREAD)–Axo AS (“Axo”), a leading distributor of personal finance products in the Nordic region and a portfolio company of Corsair, a leading private equity firm focused on payments, software and business services investments in the financial services industry , announced today 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.
Founded in 2018, Defero empowers consumers to make better financial decisions through its free credit scoring and financial management platform that adapts to each member’s credit profile and financial needs. Today, Defero has more than 400,000 users across the Nordic region. Defero provides consumers with an assessment of their credit score combined with a comprehensive view of their credit profile and gives them the ability to make changes through a variety of financial options. Defero also offers consumers a budgeting and financial management platform, as well as property and car valuations through its Premium offering. Following the transaction, Defero’s CEO will join Axo Group’s group management team.
“Serving the financial needs of consumers is central to Axo’s goal of becoming the leading 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. From our acquisition in 2021 of a loan broker with technology FlyMe – which has driven 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 turned 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 greater market share across Nordic region and beyond. I am incredibly proud of Defero’s success and am confident that this transaction is the next logical step in the evolution of our company.”
“Axo’s acquisition of Defero strengthens the company’s position as a leading distributor of innovative financial services products in the Nordic region,” said Corsair Partner Derrick Estes and CEO Edward Wertheim. “We continue to see significant room for growth and the addition of Defero’s consumer-focused personal finance products will further accelerate Axo’s strong track record 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 expand internationally efficiently and we look forward to continuing to support the company as it executes on these opportunities.”
About Axo
Axo is a leading digital distributor of personal financial products in the Nordic region. The company was founded in 2008 and has offices in Oslo, Copenhagen, Stockholm and Helsinki. In 2021, Axo acquired leading Danish digital broker LendMe, accelerating its journey to become the leading pan-Nordic platform for personal financial products. For more information about the company, visit https://www.axofinans.no.
About Deferred
Defero AS was founded by Eigil Arff Tarjem. Arff Tarjem has a background in Citibank, Sparebanken Øst and Dun & Bradstreet. Defero empowers consumers to make better financial decisions through its free credit scoring and financial management platform that adapts to each member’s credit profile and financial needs. Today, Defero has more than 400,000 users across the Nordic region. For more information about the company, visit https://www.defero.no.
About Corsair
Corsair is a global specialist investment firm that provides opportunities for investors and solutions for companies in financial and business services and infrastructure. The firm has nearly three decades of experience partnering with companies at the intersection of technology transformation and financial services complexity and established its complementary infrastructure investment practice in 2015. Corsair has invested $12 billion in capital through its global purchases and infrastructure platforms since its inception. More information about Corsair can be accessed via https://corsair-capital.com/.
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