Düsseldorf-based consumer loan provider auxmoney has secured another €500 million in debt funding this time via Citi and Natixis. This now brings auxmoney's debt funding to just over €3 billion.
Using what the company calls a "unique scoring technology based on digital data" and advances in AI, auxmoney provides investors with the possibility to invest in truly digital consumer lending.
Auxmoney CFO Daniel Drummer explained the rationale behind the deepening debt funding, “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 is returning to the lending table, after first financing auxmoney back in 2021 in a €250 million round. With this second round, Citi becomes a new senior lender to auxmoney.
“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,” concluded auxmoney CEO Raffael Johnen.
In addition to Citi, auxmoney is backed by Index Ventures, Chenavari Investment Managers, BNP Paribas, Union Square Ventures, Centerbridge Partners, Lexington Partners, Aegon, Transamerica Ventures, Foundation Capital, and Partech.
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