202203 Aug

Auxmoney Grabs $500M+ for Increased P2P Lending

Summary

German digital peer-to-peer lending platform Auxmoney raked in almost $508 million in investor funding that it will use to offer more consumer loans.According to a Tech Funding News report Wednesday (Aug. 3), returning investor Citi and American French-based asset management company Natix led Auxomoneys fundraising round. The company has raised $3.64 billion in investor funding since its inception.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, Auxmoney CFO Daniel Drummer said in the report. This funding commitment further strengthens Auxmoneys excellent standing as a tech-enabled platform for institutional investors.Auxmoney was founded by D\xfcsseldorf in 2007 by Raffael Johnen, Philip Kamp and Philipp Kriependorf. The company uses scoring technology based on digital data and advances in artificial intelligence (AI).We are on a mission to promote and improve financial inclusion, said Auxmoney CEO Raffael Johnen in the report. Its great that more and more strong partners support our mission and foster financial inclusion with us, he said.Related: 76% of German Convenience-Seekers Interested in Using Super Apps to Manage Interpersonal CommsIn Germany, a significant number of consumers identified as having a convenience-seeker persona (76%) said they are interested in using super apps to manage interactions with family, friends or romantic partners, one of the 11 areas of their lives consumers would like to see integrated into a super app, according to The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy.The report, published in collaboration with PayPal, was based on a survey of close to 10,000 consumers in Australia, Germany, the U.K. and the U.S.Overall consumers in Germany tend to be most skeptical of a super app than any of the other countries studied.

Source: Pymnts

Funding

$507.04M
Amount
Aug 03 2022
Date
-
Investor
Auxmoney
Company

Classifications

Companies