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Saturday, June 15, 2024
HomeNewsAxo acquires Norwegian fintech Defero 

Axo acquires Norwegian fintech Defero 

Defero offers free credit checks and financial management to consumers in Norway and Sweden and has gathered over 400,000 members. Now Axo AS is buying the fintech startup .
Founded in 2018, Defero empowers consumers to make better financial decisions through a free platform for credit scoring and financial management.

In March 2021, Defero had its 100,000th member. Today, the number is up to 411,335. In Sweden, the service is operated under the name MinKredittkoll. Now Axo AS, a leading supplier of personal financial products in the Nordics and portfolio company of the private equity company Corsair, is buying the fintech startup Defero. The purchase price has not been stated.

“Meeting consumers’ financial needs is fundamental to Axo’s goal of becoming the premier pan-Scandinavian personal finance platform,”

says Jostein Christian Dalland, CEO of Axo.

The access to Defero’s consumer-focused platform and broad knowledge in credit analysis strengthens Axo’s position as the leading consumer-oriented financial house in the Nordics. In 2021, we bought the technology-focused Danish loan agent LendMe. This enabled us to expand into new markets and adjacent product verticals. Adding Defero’s unique personalization technology to our platform will equip our customers with even better tools to achieve their financial goals.

Thanks to the incredible work of our entire team, we have built Defero into a leading platform for credit checking and financial management, says Eigil Arff Tarjem, CEO of Defero.

Defero has become popular because it is simple and provides real value to users. No one else in the Nordics has managed to make credit checks exciting – but we have. We offer private financial insight that engages enough for our members to be activated to take action to improve the economy. In this way, Defero meets a significant need in the market to allow consumers to better understand the possibilities in their own economy and how it develops.

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 take a larger market share throughout the Nordics and beyond. I am incredibly proud of Defero’s success, and I am sure that this transaction is the logical next step in the development of our company.

“Axo’s acquisition of Defero strengthens the company’s position as the leading distributor of innovative financial services in the Nordic region,”

said Corsair partner Derrick Estes and CEO Edward Wertheim. 

“We continue to see significant room for growth, and adding Defero’s consumer-focused products will further accelerate Axo’s strong growth. This will happen by increasing customer engagement, improving the ability to provide consumers with tailored financial solutions, and creating additional value for the company’s partners, such as banks and financial institutions. The transaction will also give Axo the opportunity to explore new products and expand more rapidly internationally. We look forward to continuing to support Axo in these opportunities”

After the transaction, Defero’s managing director Eigil Arff Tarjem will join the group management of Axo.

Chris Crespo
Chris Crespohttp://nordicfintechmagazine.com
Chris is a Founding Partner and Chief Editor at Nordic Fintech Magazine, where he simplifies complex financial ideas into easy-to-understand content. With nearly 20 years of experience in management consulting and financial services, including leadership roles with some of Europe's largest banks, he offers profound industry insights. Previously serving as the Chief Futurist at the largest bank in the Nordics, Chris has sharp views on the Future of Financial Services, Money, Disruption, and Ethical AI in Finance. He is also a guest lecturer at Stanford University, Singularity University and Copenhagen Business School, where he frequently discusses the future of Money, Finance, and Entrepreneurship in Financial Services. As a Behavioral Economist, Chris is passionate about studying how human behavior and decision-making relate to risk. He also delves into the connections between psychology, leadership, and technology within financial services.
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