Axactor expands relationship with FI Client in Norway

Oslo, January 27th 2020

Axactor has renewed and expanded an existing FF, acquiring fresh NPL consumer finance claims, with an outstanding balance of less than €25k. The new contract period is for 12 months, starting in February 2020, with an expected annual capex of around 10mEUR. The contract includes a hybrid element with part of the FF being managed in 3PC for a period prior to acquisition.

 “Axactor Norway is happy to announce this renewal, which has been developed to include not only additional volumes, but also a hybrid element including 3PC. The team have been working hard to expand our existing relationships and we hope this is the first of many successes in 2020.” says Stina Koren, Axactor Country Manager Norway.  
            
This investment will be financed by Axactor’s available cash and our existing credit facilities.  

For additional information, please contact: 
Johnny Tsolis, CFO, Axactor
Mobile phone: +47 913 35 461
Email: johnny.tsolis@axactor.com

About Axactor 
Axactor Group is a next-generation debt management company operating in Norway, Sweden, Finland, Germany, Spain and Italy with an ambitious European growth strategy. Axactor acquires and collects on own portfolios of non-performing loans and also provides debt collection and accounts receivable management for third parties. The debt collection market is estimated to about 1,000 billion euros across Europe, providing significant opportunities for future expansion. The company has approximately 1100 employees. 

To learn more, visit www.axactor.com