Digital lender auxmoney lands €500m funding

Auxmoney, a leading digital lending platform for consumer credit in Europe, has secured €500m in funding.

According to auxmoney, Citi initially started lending to auxmoney in 2021 and is now extending its lending to a second facility with Natixis joining a senior lender.

auxmoney claims it provides investors with the possibility to invest in truly digitial consumer lending.

Daniel Drummer – CFO of auxmoney – said, “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.”

auxmoney CEO Raffael Johnen added, “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.”

Savana, which develops financial software for banks and FinTechs, has collected $45m in its Series A funding round.

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