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Axactor combines third party collection with a forward flow agreement

Axactor Group

Oslo, August 1st 2019 Axactor has complemented its existing forward flow agreements, by adding another agreement with a new client in Norway. In addition, this contract includes an initial period of third party collection, prior to acquiring the claims. The contract period is for 18 months, starting in August 2019. The annual volume is expected to be close to 15 mEUR across 1.500 claims. "The team in Norway have worked hard to focus on both third party collection and portfolio acquisition, resulting in opportunities to include both with some large institutional clients." 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