Corsair-backed Axo picks up credit scoring and financial platform Defero

Axo is a distributor of personal finance products in the Nordics.

  • Defero is a Norwegian digital credit-scoring and financial management platform
  • As part of the deal, Defero’s CEO will join the management team of Axo Group
  • Defero has over 400,000 users across the Nordics

Corsair portfolio company Axo announced the purchase of credit-scoring and financial management platform Defero on Tuesday.

Axo is an Oslo-headquartered distributor of personal finance products in the Nordic region that was picked up by Corsair in 2020.

Defero, also headquartered in Oslo, is a digital credit-scoring and financial management platform in the Nordics. It has over 400,000 users across the region and provides them with an assessment of their credit score combined with a full view of their credit profile. It offers users a range of budgeting and financial management services.

“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.”

“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 personalised tools to our platform will better equip consumers with the information they need to achieve their financial goals.”

Corsair is a New York-based private equity firm. It specialises in buyouts of companies across the financial and business services sector as well as in infrastructure. Corsair has raised $14.8 billion since its inception.