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Creditinfo Group hf.
Public company
IndustryBusiness services
Founded31st January 1997 (31st January 1997)
HeadquartersReykjavík, Iceland
Key people
  • Reynir Grétarsson (Founder & Majority Shareholder)
  • Stefano M. Stoppani (CEO)
  • Almar Hilmarsson (COO)
ProductsCredit Bureau, Credit scorecards, Decision support system,
Number of employees

Creditinfo is an Icelandic credit bureau and information services group with operations in more than 25 countries.[1][2]

As of 2017 the company employs over 400 people with corporate headquarters in Reykjavík, Iceland. The company was initially created in 1997 as Lánstraust ehf, later taking up the name Creditinfo as the company expanded internationally.[3]


The initial share capital of Lánstraust ehf in 1997 was one million ISK (then worth €6.600).[4] The sole founder was Reynir Grétarsson, the two co-founders brought their share capitals later the same year.[5] One of these partners left after a few months, the other partner left after 3 years. In 2003, Creditinfo was established. Since then the company has opened offices in 18 countries, most of which still remain, but a few were closed or sold.[6][7] From 2000 to 2009, sales of Creditinfo in Iceland grew from €500.000 to almost €6.000.000. From 2004 to 2007 Creditinfo Group revenue increased from €5 million to €22 million.[8] From 2004 to 2008, Creditinfo was selected as one of Europe’s top entrepreneurial companies for five consecutive years.[9] In 2005, Graham C. Platts and two other former executives of Experian became shareholders by buying initially around 17% of the Creditinfo Group shares. They brought expertise in the area of scoring and other value added services into Creditinfo and remained shareholders until 2013, when the company itself bought back their share in the company, at that time 31,5%. Buyback of shares was concluded in 2013.[10][11]

In 2009, Creditinfo and Schufa, one of the oldest and biggest credit bureaus in Europe, signed a contract and created Creditinfo SCHUFA GmbH. The strategy of this company was to offer pan-European credit information and related services. This cooperation was terminated in 2011, with each party deciding to pursue its own international strategy.[12] In March 2012, Creditinfo established the first licensed credit bureau in Jamaica. To date, some 36 entities have been registered with Creditinfo Jamaica Limited.[13] Generally said, Creditinfo Group is a leading subject in establishing credit bureaus across the Caribbean.[14] In February 2013, Creditinfo signed an agreement to provide credit bureau software (CBS5) to Central Bank of Afghanistan.[15] In June the same year, The Bank of Tanzania has officially granted a full operation licence to Creditinfo.[16] In November 2013, Creditinfo and CRIF were shortlisted to establish the first credit bureau in Azerbaijan.[17]

Creditinfo Group has been selected in several tenders supported by World Bank, International Finance Corporation, Millennium Challenge Corporation and other international organizations.[18] Creditinfo Group is listed in “Doing Business 2013” publication issued by World Bank and International Finance Corporation.[19]

Notable acquisitions[edit]

The acquisitions of ICECREDITINFO and Upplýsingaþjónustan in 1998 eliminated all the existing Icelandic competition.[20] In 2004, Creditinfo acquired a media monitoring service called Fjölmiðlavaktin with 13 full-time employees and sales reaching 120 million ISK.[21] In 2015, Creditinfo acquired Credit Bureau in Morocco from Experian.[22] In January 2016, Creditinfo acquired another credit bureau operation from Experian - the company, Krediidiinfo is based in Estonia.[23] In August 2016, Creditinfo acquired VisualDNA’s Credit and Risk business from Imagini.[24]

Products and Operations[edit]

Creditinfo operates in the business-to-business sector selling consumer credit reports and related analytics. Its principal lines of business are credit services, decision analytics and risk management. The portfolio of services consist of negative information, supreme court rulings, monitoring products, company information, business information reports, annual reports, marketing lists, real estate collaterals, vehicle registration information, debt collection system, CIP scoring – business, individual registration information, CIP scoring – consumer.

Like its main competitors, Crif, Experian, TransUnion and Equifax, Creditinfo also provides credit reports directly to consumers.

The Group targets mainly the emerging markets where the company implements solutions in the domain of credit bureau.[25] In Iceland, Creditinfo releases an annual review at the 33,000 companies registered in the country. This financial evaluation is called The Strongest in Iceland.[26]

Corporate and Social Responsibility[edit]

All of Creditinfo core services comply with European Union Directive (95/46/EC) on the handling and transmitting of personal information and the equivalent laws in all other countries within which they operate. To increase transparency of dealing with credit information, the company implemented a service called My Creditinfo. It is available for individuals and each person has access to their own information.

The company collaborates with the DARMAN association (Development Association and Relief of Medical for Afghan Nation) in Afghanistan, which runs primary schools for poor children in the Kama district of the country’s province of Nangarhar.[27] In 2011, Creditinfo Group helped to build an elementary school in Bashay village, Tanzania.[28]

Countries of Operation[edit]


  • Creditinfo Group hf.
  • Creditinfo International GmbH
  • Creditinfo Solutions
  • Creditinfo Estonia
  • First Credit Bureau Kazakhstan
  • First Credit Bureau of Ukraine
  • Creditinfo Georgia
  • Creditinfo Guyana[29][30]
  • International Bureau of Credit Histories Ukraine
  • Creditinfo Iceland
  • Creditinfo Jamaica
  • Creditinfo Kenya
  • Creditinfo Lithuania[31]
  • Creditinfo Malta
  • Creditinfo Morocco
  • Creditinfo Romania
  • Creditinfo Tanzania
  • Creditinfo VoLo - West Africa (covering 8 member countries of BCEAO)
  • Creditinfo UK
  • KIB Latvia


See also[edit]


  1. ^ "Creditworthiness operations in Sudan and Afghanistan". Retrieved 10 December 2013.
  2. ^ "Private Credit Bureaus around the World" (PDF). Retrieved 14 January 2013.
  3. ^ "". Retrieved 21 October 2013.
  4. ^ GRÉTARSSON, R. Creditinfo Group Part I (Creditinfo Group: Reykjavík, 2012.)
  5. ^ "". Retrieved 21 October 2013.
  6. ^ "Advokatfirman Cederquist represents Bisnode in its acquisition of Creditinfo SCHUFA companies in the Czech Republic, Slovakia and Poland". Retrieved 10 April 2014.
  7. ^ "Hellastat Greece Acquires Creditinfo Hellas". Retrieved 21 March 2014.
  8. ^ GRÉTARSSON, R. Creditinfo Group Part I (Creditinfo Group: Reykjavík, 2012.)
  9. ^ GRÉTARSSON, R. Creditinfo Group Part I (Creditinfo Group: Reykjavík, 2012.)
  10. ^ "Graham Cedric Platts". Retrieved 10 April 2014.
  11. ^ "Scoresoft acquires 18,6% stake in Creditinfo". Retrieved 10 April 2014.
  12. ^ "Creditinfo signs joint venture deal with SCHUFA GmbH". Retrieved 10 April 2014.
  13. ^ "". Retrieved 31 October 2013.
  14. ^ "". Retrieved 31 October 2013.
  15. ^ "". Retrieved 9 December 2013.
  16. ^ "BoT gives nod to start of credit bureau's dealing". Retrieved 9 December 2013.
  17. ^ "". Retrieved 9 December 2013.
  18. ^ "". Retrieved 14 October 2013.
  19. ^ "Doing Business 2013" (PDF). Retrieved 31 October 2013.
  20. ^ GRÉTARSSON, R. Creditinfo Group Part I (Creditinfo Group: Reykjavík, 2012.)
  21. ^ GRÉTARSSON, R. Creditinfo Group Part I (Creditinfo Group: Reykjavík, 2012.)
  22. ^ "Creditinfo Chronicle". Retrieved 18 August 2016.
  23. ^ "Creditinfo Chronicle". Retrieved 18 August 2016.
  24. ^ "Creditinfo Chronicle" (PDF). Retrieved 18 August 2016.
  25. ^ "Creditinfo Group's Credit Reference Bureau Licensed in Tanzania". Retrieved 11 March 2014.
  26. ^ "The Strongest in Iceland". Retrieved 8 April 2014.
  27. ^ "". Retrieved 10 December 2013.
  28. ^ "Bashay Village". Retrieved 10 December 2013.
  29. ^ "First Licensed Credit Bureau Opens its Doors in Guyana to Support Access to Finance". Retrieved 10 December 2013.
  30. ^ "Attorney general urges speedy passage of anti-money laundering amendments". Retrieved 9 April 2014.
  31. ^ lt:Kreditų biuras

External links[edit]