Auxmoney gets a quarter of a billion for its lending business

The fintech is putting the money into its own personal loan platform. The capital comes from Citigroup, among others.

At the end of last year, lending platform Auxmoney announced that it would issue money itself via its own site, instead of just brokering loans as it had done in the past. Now the Düsseldorf-based company is getting serious: it has raised 250 million euros for a co-investment from backers Citigroup and Chevanari.

"With this landmark investment, even more people will benefit from the advantages of digital loans through auxmoney," Auxmoney CEO Raffael Johnen said happily on the occasion of the deal. Sebastian Walf, Managing Director at Citigroup, said: "We finance fintechs across Europe. The credit performance of auxmoney's marketplace loans continues to be remarkably stable, even in the Corona pandemic. We are delighted to enter into this partnership with one of Europe's leading fintechs."

It's the second million-dollar deal in a short period of time for Auxmoney. Back in September, US private equity firm Centerbridge and partners put 150 million euros into the company. However, this was not an investment in the lending business, instead Centerbridge is now a majority shareholder of Auxmoney.