Auxmoney receives a quarter of a billion for its lending business

The fintech is investing the money in its own personal loan platform. The capital comes from the major bank Citigroup, among others.

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

"With this pioneering investment, auxmoney is enabling even more people to benefit from the advantages of digital loans," said Auxmoney CEO Raffael Johnen 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 during the coronavirus pandemic. We are delighted to enter into this partnership with one of Europe's leading fintechs."

This is the second million-euro deal for Auxmoney in a very short space of time. Back in September, the US investment company Centerbridge and partners invested 150 million euros in the company. However, this was not an investment in the lending business; instead, Centerbridge is now the majority shareholder of Auxmoney.