Auxmoney has secured €500 million in funding. The investment came from returning investor Citi and American French-based asset management company Natixis (that recently backed Stenn).
Invests in its own platform
Auxmoney will use the funds to invest in consumer loans on its own platform.
Auxmoney CFO Daniel Drummer explained the rationale behind the deepening debt funding, “With two renowned financial institutions providing funding at scale, this deal underlines the profound trust of investors in auxmoney and the appeal of digital lending as asset class, even in a more volatile market environment. This funding commitment further strengthens auxmoney’s excellent standing as a tech-enabled platform for institutional investors.”
Auxmoney CEO Raffael Johnen added, “We are on a mission to promote and improve financial inclusion. With these additional strategic partnerships, we will enable more people across the credit spectrum to borrow at competitive rates, something that in the current macro environment is more important than ever. Our proprietary scoring and underwriting technology enable us to continuously improve our offering. It’s great that more and more strong partners support our mission and foster financial inclusion with us.”
Expands its team
Since last year, Auxmoney has made many additions to its senior leadership. The company appointed former Unilever, Barclays, and Boston Consulting Group executive, Matthias von der Heyde, as its chief growth officer in February this year. The executive has the responsibility for brand and customer lifecycle in the newly created role.
The former CEO of Barclaycard Germany Carsten Höltkemeyer, also joined Auxmoney as its executive chairman in February 2021.
Peer-to-peer lending marketplace
Auxmoney was founded in Düsseldorf in 2007 by Raffael Johnen, Philip Kamp and Philipp Kriependorf.
With its unique scoring technology based on digital data and advances in Artificial Intelligence (AI), Auxmoney provides investors with the possibility to invest in truly digital consumer lending. Through unique risk models and truly digital processes, it improves access to affordable credit while reducing the risk and cost of lending. Auxmoney is at the forefront of promoting and improving financial inclusion.
With strategic partnerships, it will enable more people across the credit spectrum to borrow at competitive rates.
