Germany’s Auxmoney inks €500m funding line
Auxmoney has secured a €500m (£418m) funding line from Citi and Natixis, to finance consumer loans through its platform.
Citi began lending through the Germany-based peer-to-peer lending platform in 2021.
It has now entered into a second agreement, with Natixis joining as a new senior lender.
Auxmoney Investments managing director Boudewijn Dierick is leading the team responsible for the transaction, overseeing automated onboarding, risk assessment and reports for investors.
Read more: Auxmoney appoints securitisation specialist
“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,” said Auxmoney chief financial officer Daniel Drummer.
Auxmoney uses AI-backed scoring technology to connect investors with digital consumer loans.
Read more: Auxmoney issues second securitisation
“We are on a mission to promote and improve financial inclusion,” said Auxmoney chief executive Raffael Johnen. “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.”
Back in 2020, Auxmoney also partnered with BNP Paribas, so that the French bank will fund loans through its consumer lending platform.