German digital lending platform auxmoney pockets 500 million euros from Citi and Natixis


Auxmoney, a Düsseldorf-based digital lending platform, announced on Wednesday that it had secured 500 million euros from US bank Citigroup and French asset management company Natixis.

The company says it will use the funds to invest in consumer loans on its platform. To date, the company has raised $3.64 billion in funding.

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Daniel Drummer, Chief Financial Officer of auxmoney, said: “With two renowned financial institutions providing large-scale funding, this agreement underscores the deep confidence of investors in auxmoney and the appeal of digital lending as an asset class, even in a more volatile market environment.Furthermore, this funding commitment further reinforces auxmoney’s excellent reputation as a technology platform for institutional investors.

The announcement comes more than a year after the company raised 250 million euros from Citigroup and Chenavari Investment Managers.

auxmoney: what you need to know

The company shares an interesting story about its founding. One day, two of the co-founders were driving through Frankfurt’s banking district. Looking at the huge, shiny buildings housing the banks, they thought, “What if they could create a way for borrowers and investors to meet face-to-face?

Founded by Raffael Johnen, Philip Kamp and Philipp Kriependorf in 2007, auxmoney is an online peer-to-peer lending marketplace that offers digital lending platforms and consumer lending solutions.

The company uses scoring technology based on digital data and artificial intelligence (AI). The company’s mission is to promote and improve financial inclusion.

auxmoney’s lending platform enables private consumers to borrow from private and institutional investors for personal loans, providing borrowers with a bankless borrowing system and return on investment for lenders.

Through its credit scoring and underwriting expertise, as well as unique risk models, the company is making better loans available to more people while enabling investors to benefit from attractive risk-adjusted returns.

Raffael Johnen, CEO of auxmoney, says: “We are on a mission to promote and improve financial inclusion. Through these additional strategic partnerships, we will enable more people from all credit backgrounds to borrow at competitive rates, which is more important than ever in the current macroeconomic environment. In addition, our proprietary rating and subscription technology allows us to improve our offering. It’s great that more and more strong partners are supporting our mission and driving financial inclusion with us.

Since its creation, the German company has financed more than 250K loan applications for a total volume of more than €700M. Boudewijn Dierick, managing director at auxmoney Investments, leads the team responsible for this transaction.

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