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Despite the Pandemic Access Finance Continues Its Geoexpansion Launching Operations in Spain Under Its AXI Card Brand
[May 04, 2021]

Despite the Pandemic Access Finance Continues Its Geoexpansion Launching Operations in Spain Under Its AXI Card Brand

Access Finance, part of the portfolio of Management Financial Group (MFG), launched its operations in Spain in the beginning of February 2021 under the brand AXI Card. In its first two months more than 16 000 clients applied for an AXI credit card. As of today hundreds of applications are handled by the dedicated Spanish team every day. The company's ambition to reach over 100 000 active card users in 2023 seem more and more realistic. Access Finance already has successful operations under the brands White Card and AXI Card in Bulgaria, Romania and Poland. AXI Card targets active customers in large urban areas between the ages of 25-60, who have experience with technology and are looking to meet eventual 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 institution that also deserve a chance for better life, such as retirees, small business owners, foreigners residing in Spain and others," said Dimiter Prodanski, who is in charge of the international projects of Access Finance and CEO of the Spanish entity. Preparation for entering the Spanish market included serious analysis of local consumer habits and needs, market behavior, negotiations with various suppliers, integration, local recruitment. The local company's management in the person of Juan Pablo Mecerreyes, Chief Operations Officer of the Spanish company, and Ruben Andrade, Call Center Operations Director, has extensive experience working in the financial industry and the customer services industry serving brands such as 4Finance, Creamfinance and CCLoan, Facebook, Apple (News - Alert) and Netflix.

The advantages of AXI Card 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 across Europe are able to save a lot of money using the card compared to others credit lines and products.

"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 overseas with focus on the US market," 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," commented Stanimir Vassilev and Nedelcho Spassov, shareholders in MFG.

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