Nordic firm Axo snaps up digital credit-scoring platform Defero

Axo, a distributor of personal finance products in the Nordics, has acquired Defero, a digital credit-scoring and financial management platform, for an undisclosed sum.

Defero acquired by Nordic fintech firm Axo

Eigil Arff Tarjem, CEO of Defero, will join Axo’s group management team following the transaction.

“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,” Tarjem says.

Founded in 2018, Defero claims to have over 400,000 users across the Nordic region.

Through Defero, customers can get an assessment of their credit score with a full view of their credit profile. It also offers budgeting and financial management features, along with property and car valuations as a premium service.

Jostein Christian Dalland, CEO of Axo, says the addition of Defero’s consumer-focused platform and credit analytics capabilities to the firm’s offering will “better equip consumers with the information they need to achieve their financial goals” and builds on its 2021 acquisition of tech-enabled loan broker LendMe, “which has fuelled our expansion into new markets and adjacent product verticals”.