auxmoney secured €500m in funding to invest in consumer loans

By Joy Dumasia

auxmoney, a digital-lending platform for consumer credit in Europe, has secured another €500m to fund the origination of new loans. auxmoney will use this financing provided by Citi and Natixis to invest into consumer loans on its own platform.

Daniel Drummer, CFO of auxmoney, states: “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. This funding commitment further strengthens auxmoney’s excellent standing as a tech-enabled platform for institutional investors.”

Citi initially started lending to auxmoney in 2021 and is now extending its lending to a second facility with Natixis (through its ABCP conduit) joining as new senior lender. With its unique scoring technology based on digital data and advances in Artificial Intelligence (AI), auxmoney provides investors with the possibility to invest in truly digital consumer lending.

auxmoney CEO Raffael Johnen adds: “We are on a mission to promote and improve financial inclusion. 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.”

Boudewijn Dierick, Managing Director at auxmoney Investments, leads the team responsible for this transaction. Through highly efficient and digital processes, auxmoney’s investment arm enables fully automated onboarding, risk assessment and reports for investors.