The Scandinavian digital platform for credit scoring and money management, Defero, was purchased by the Norwegian personal finance business Axo.
The transaction’s financial details were kept a secret. Defero offers free credit scoring and financial management that is customized to each customer’s credit profile and budgetary requirements, according to the press release.
Defero offers customers a credit score assessment as well as a comprehensive analysis of their credit history and has more than 400,000 subscribers in the area. Users of the website may also manage their money and make budgets.
In order for Axo to become the leading pan-Nordic platform for personal finance, Jostein Christian Dalland, the company’s CEO, believes that meeting consumers’ financial demands is essential.
According to Defero CEO Eigil Arff Tarjem, Axo’s ownership will also allow his company to invest in new products and technology, boost conversion rates, and gain market share both domestically and internationally. When the deal is finished, Tarjem will join the group management team at Axo.
Axo has outlets in Oslo, Copenhagen, Stockholm, and Helsinki. It was founded in 2008. LendMe, an internet broker with a Danish foundation, was acquired by the company last year.
The announcement comes one day after MoneyLion, a digital platform for financial services, teamed up with Zogo, a company that offers financial literacy services, to teach money management to more than 3 million MoneyLion customers.
Users of MoneyLion will have access to “bite-sized education modules” from Zogo through the Today Feed area of the MoneyLion app as a result of the agreement. These modules will teach users about topics including budgeting, entrepreneurship, credit scores, investing, and saving.
