Axo AS, a leading distributor of personal finance products in the Nordic region and portfolio company of Corsair, a leading private equity firm targeting services, software, and payments investments in financial services, announced last week that it has agreed to acquire tech-enabled loan broker LendMe. Financial terms of the transaction were not disclosed.
Founded in 2016, LendMe is one of the first independent loan brokers in Denmark, offering consumers the country’s most comprehensive portfolio of lending partners from the largest banking panel in Denmark. LendMe also provides income protection insurance as an integrated part of its services. The Company is led by a strong and experienced senior management team who will join Axo following completion. The Company’s three co-founders will hold local and group management positions within Axo, and all LendMe employees will continue to serve in the group.
Axo’s acquisition of LendMe is a significant milestone in Axo’s international expansion strategy and broader path to becoming the premier pan-Scandinavian platform for personal financial products. The company already has a strong presence in Norway and Sweden. The combined company will benefit customers and banking partners with added customer success staff, greater market reach, and a combined resource pool from which to develop and scale growth initiatives.
Frederik Murmann, CEO and Co-Founder of LendMe, said, “This transaction is great validation for the LendMe team’s work over the years as we’ve developed a highly effective strategy and 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 as part of Axo.”