Story: Axeptia receives 5M NOK funding and joins forces with DNB

Michał Merchelski
20 June 2018

One of our clients - Axeptia Credit Intelligence - announced recently during their presentation on Summer Pitch Party at StartupLab that they will continue to collaborate closely with one of Norway’s most innovative banks - DNB.

Axeptia is a tool we’ve been working on together with the startup’s founders for the last couple of months. We’ve worked hard to figure out the best UX and build a flawlessly running dashboard app. Simultaneously, Axeptia was part of DNB NXT Accelerator at StatupLab carried out in collaboration with DNB. The program led to several extremely positive outcomes.

First and foremost, DNB saw so much value in the platform that it decided to move on as their first large customer. This is an unparalleled opportunity to test the tool in a large organisation and make improvements before launching the product widely. DNB admitted that Axeptia’s idea of confronting external credit intelligence data with the company’s internal information (accounting, CRM, ERP etc.) creates unprecedented possibilities in terms of credit risk management.

Rune Bjerke, one of DNB’s top managers, personally tested the solution and said that the business might have a global potential and DNB is ready to be part of Axeptia’s early growth.

Apart from the partnership with DNB, the acceleration program brought Axeptia the funding necessary to shift from being a bootstrapped MVP to stable large-scale growth. The startup received a 5 million kroner investment round from StartupLab’s Founders Fund II earlier this year.

Axeptia is offering two key value propositions previously absent in the credit management industry. Firstly, it allows CFO’s to compare data from various sources with their own data to make informed decisions without any bias. That’s real neutrality. Secondly, it’s agile and able to rapidly address changing market needs much earlier than the old, corporate players.

We send our huge congratulations to the whole Axeptia team and look forward to hearing about their next successes. Keep it up!

Any comment you want to share with us? Drop us a line: hello@start-up.house

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