Access Finance launched operations in Spain under its Axi Card brand
23.02.2021

The company’s ambition is to reach over 100 000 active card users in 2023

Access Finance, part of the portfolio of Management Financial Group (MFG), which is behind the successful operations on several European markets of the brands White Card and Axi Card, launched its operations in Spain in the beginning of February 2021.

The start was given as the first application for an Axi Card arrived at 23:25 Spanish time on February 1st. Just for a week more than 1200 clients were interested in having an Axi Credit Card. And the first Axi cards are already in the hands of their owners, who have begun to take advantage of them. The company’s ambition is to reach over 100 000 active card users in 2023.

Preparation for entering the Spanish market included serious analysis of local consumer habits and needs, market behavior, negotiations with various suppliers, integration, and selection of the initial team to lead local operations. Even the COVID-19 pandemic, which has severely affected numerous businesses around the world, failed to shatter Access Finance’s expansion plans.

AXI Card targets active customers in large urban areas between the ages of 25-60, who have experience with technology and are looking for peace of mind and possible coverage of urgent needs between salaries.

„Given the way of life in the country, credit cards are especially popular, which creates a favorable market niche for the entry of a new, modern and high-tech brand such as Axi Card. As part of our mission to provide financial inclusion for everyone, regardless of their current financial condition and social status, we are the perfect solution to clients often neglected by financial institutions that also deserve a chance for better life, such as retirees, small business owners, foreigners residing in Spain and others,” said Dimitar Prodanski, who is in charge of the international projects of Access Finance and CEO of the Spanish entity.

The advantages are many –

lower interest rates compared to competitors, significantly higher percentage of approved customers compared to traditional bank cards, no maintenance and cash withdrawal fees, fast review and approval.

Given the flexibility in repayment installments, Axi Card customers in Spain will even be able to save a lot of money using the card compared to others credit lines and products.

Currently, the company’s customers are served by a team of 14 people in various fields, who have the support of the mother company – Access Finance. The company’s management in the person of Juan Pablo Mecerreyes, Chief Operations Officer of the Spanish company, has participated in the preparation and market entry of European market leaders in the financial industry such as 4Finance, Creamfinance and CCLoan, and Ruben Andrade, Call Center Operations Director, has extensive experience working in the customer services industry and serving the clients of global brands such as Facebook, Apple and Netflix. Currently the company is actively filling positions in areas covering a variety of business needs.

“Our ambitions do not stop here! After the successful start of our operations in Spain, we are already working on opening another Western European market, as well as on our expansion outside Europe,” said Tsvetan Krastev, CEO of Access Finance.

„The successful expansion of Access Finance in Western Europe is yet another step in the development of the constantly evolving fintech ecosystem of Management Financial Group. We grow the market of high-tech, easy and intuitive financial services for all people. And our clients grow with us,” commented Stanimir Vassilev and Nedelcho Spassov, shareholders in MFG.

 

About Access Finance

Access Finance, part of Management Financial Group, was established in 2013. In Bulgaria, the company employs over 230 employees who serve over 150,000 active cardholders. Most recognizable brand is White Card. White Card is an international credit card for payment and shopping with a limit of up to 3,000 leva. The business model is based on mainly digital customer service, which offers affordable and financial service to technology-oriented customers. In 2018, Access Finance launched a co-branded credit card with A1 telecom and currently expands the number of customers and portfolio of products, adding to its services fully digital fast loans, granted in minutes. In 2017 the brand expanded internationally in Romania, and in 2018 the Axi Card model was replicated in Poland. Customer service is provided through a call center, as well as online through the brand’s website, social media, chat and SMS.

About Management Financial Group

Management Financial Group comprises of leading companies specializing in the provision of non-banking financial services in Europe and manages an extensive portfolio of successful endeavors in the field of consumer lending, financing of micro and small-sized enterprises, digital lending, P2P lending, credit cards, digital business and other successful financial business models. We hold over 15 licenses on various highly regulated markets. Some of our companies have more than 16 years of successful market presence, some are in the process of dynamic growth, and some are startups. The MFG companies employ more than 8300 employees and consultants in over 450 offices in Bulgaria, Ukraine, Romania, Poland, Macedonia and Spain. MFG’s ambitions is to be a constantly evolving fintech ecosystem expanding globally. Our goals are to provide financial inclusion for all and offer financial technologies for the benefit of the people. We build sustainable companies that are in harmony with society, nature and people. We always put our customers and employees at the heart of whatever we do, because we believe that they are our most valuable resources. And we are guided in our growth by the visionary spirit that lies in the very core of our business operations and decisions.

MFG. The Easy FinWay.

 

Management Financial Group