Axo announces the acquisition of LendMe, the leading personal loan and insurance distributor in Denmark
Oslo, Norway, June 25, 2021 / PRNewswire / – Axo AS, one of the leading distributors of personal finance products in the Nordic region and the holding company of Corsair, a leading private equity firm targeting investments in services, software and payments in financial services, announced last week that it had agreed to acquire LendMe, a loan broker with the technology. Financial terms of the transaction were not disclosed.
Founded in 2016, LendMe is one of the first independent credit brokers in Denmark, offering consumers the country’s most comprehensive portfolio of lending partners from the largest banking panel in Denmark. LendMe also offers income protection insurance as part of its services. The company is led by a strong and experienced management team who will join Axo once the transaction is complete. The Company’s three co-founders will hold local and group leadership positions within Axo, and all LendMe employees will continue to serve in the group.
Axo’s acquisition of LendMe is an important step in Axo’s international expansion strategy and a wider path to becoming the leading pan-Scandinavian platform for personal financial products. The company is already very present in Norway and Sweden. The combined company will benefit clients and banking partners with additional staff for client success, greater market reach and a combined pool of resources from which to develop and scale growth initiatives.
“We are delighted to partner with a high caliber company that shares our commitment to our customers’ success, and with LendMe as part of the Axo family, we will continue to innovate and develop solutions that strengthen our offerings at both for consumers and banking partners. “ mentionned Carl E. Endresen, CEO of Axo. “We are delighted to join forces with our new colleagues at LendMe to accelerate our ambitious growth agenda.
Frédéric Murmann, CEO and Co-Founder of LendMe, said: “This transaction is an excellent validation for the work of the LendMe team over the years, as we have developed a very effective strategy and a market-leading offering. I am proud of how far we have come in such a short period of time and look forward to entering this exciting new chapter within the framework of Axo. “
“This transaction extends Axo’s market leader status to Denmark and is an important step in its continued international expansion “, said Derrick Estes, Corsair partner and managing director Edouard Wertheim. “LendMe has a very experienced management team with a significant operational force and an innovative IT platform that will enable further expansion into adjacent product verticals. We remain deeply committed to Axo’s long-term success and look forward to supporting the management team as they capitalize on a number of compelling future growth opportunities. “
Arctic Securities acted as financial advisor to Corsair and Axo. Thommessen was Axo’s legal advisor.
Carl Edvard Endresen, +4798615023, [email protected]
Axo acquires LendMe
Axo acquires LendMe
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SOURCE Axo AS