Nordax Group AB
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Nordax Group AB - overview
Established
2003
Location
Stockholm, -, Sweden
Primary Industry
Financial Services
About
Nordax Group AB operates as a financial institution, delivering personal loans, mortgage solutions, and savings accounts to consumers across Sweden, Norway, Finland, and Germany. Founded in 2003, Nordax Group AB is headquartered in Stockholm, Sweden. The firm specializes in providing financial services, including personal loans and mortgage products. In 2018, the company underwent a significant public-to-private transition with an acquisition led by Nordic Capital and NDX Intressenter AB for SEK 6.
66 billion. Jacob Lundblad serves as the CEO of the company. Nordax has successfully completed 10 deals since its inception, with the latest deal occurring on April 6, 2018. Nordax Bank, a member of NOBA Bank Group AB, provides various financial products tailored to modern consumer needs.
These include unsecured personal loans, mortgage loans, and competitive savings accounts. The bank offers the Hypotekspension product for homeowners aged 60 and above, allowing for capital release from property without selling. Their savings accounts feature both fixed and variable interest options, catering to diverse savings preferences. The bank primarily serves clients in Sweden, Norway, Finland, and Germany, emphasizing financial accessibility.
In 2023, Nordax Bank reported a revenue of SEK 822,328,180. 4 with an EBITDA of SEK 169,746,642. 7. The bank generates revenue through interest income from loans and associated fees, emphasizing direct interactions with its customer base for loan applications and account management.
Nordax Group AB aims to expand its product offerings and geographical presence. Following the completion of their public-to-private transaction in April 2018, the company plans to launch new financial products designed to enhance customer engagement. Although specific release dates have not been disclosed, there is a strategic focus on entering additional European markets by 2025. The SEK 6.
66 billion raised in the latest funding round will support these growth initiatives, enabling the company to invest in product development and market expansion.
Current Investors
Nordic Capital
Primary Industry
Financial Services
Sub Industries
Consumer Finance, Commercial Banks
Website
www.nordax.se
Verticals
FinTech, FinTech
Company Stage
Public To Private
Total Amount Raised
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Nordax Group AB - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Merger | Completed | Norwegian Finans Holding ASA | - | ||||||||
| Public to Private | Completed | Nordax Group AB | - | ||||||||
| PIPE | Completed | Nordax Group AB | - | ||||||||
| PIPE | Completed | Nordax Group AB | - | ||||||||
| Private Placement/Follow on | Completed | Nordax Group AB | - |
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