FinTech: German Lending Platform auxmoney Gets €250 Million From Citigroup And Chenavari Investment Managers

April 9, 2021 | FinTech, News
https://dailyalts.com/wp-content/uploads/2021/04/unnamed-auxmoney.jpg

auxmoney will onward lend the amount received from Citigroup and Chenavari.

Auxmoney, a Germany-based loans marketplace, received €250 million for loans from Citigroup and Chenavari Investment Managers, a credit-focused asset manager. The two companies are partnering with the German firm, a primarily consumer-oriented lender, for lending on its marketplace. For the first time, auxmoney will also co-invest alongside these partners. (CROWDFUND INSIDER)

Raffael Johnen, CEO,  said: “With our investment platform, we are able to set up partnerships at scale, further broadening our base of institutional investors.”

“With this significant investment, auxmoney is able to bring the benefit of digital loans to even more consumers,” he added.

The funding deal with Citi and Chenavari follows on a similar transaction that the platform struck with BNP Paribas in November 2020.

Digital loan origination

Hubert Tissier de Mallerais, Senior Portfolio Manager at Chenavari, commented on the partnership: “We are excited that our partnership with auxmoney will enable us to invest in digital origination of consumer loans in Germany for the first time. The segment has been partially underserved by traditional lenders. By leveraging advanced digital technology, auxmoney provides more borrowers access to credit while allowing investors to diversify their portfolios into a highly attractive asset class.”

Sebastian Walf, Managing Director at Citigroup, stated:

“We are financing Fintechs across Europe and the credit performance of auxmoney’s marketplace loans has been remarkably stable during the coronavirus pandemic. We are delighted to be entering into this partnership with one of the leading European fintechs.”

Related Story:  LendingClub Is The First Fintech To Acquire a Bank                                                

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/11/4081910779_73d2c39615_c.jpg
FinTech: New Players In BNPL, And Down Under, Stocks Are Hammered
November 29, 2021     FinTech, News

Afterpay enters subscriptions market, Monzo’s Pay Later, Suncorp hops onto the BNPL bandwagon, and BNPL stocks get clobbered in Australia

https://dailyalts.com/wp-content/uploads/2021/11/Metaverse-Grayscale.jpg
Digital Assets: Grayscale’s Report Paints The Metaverse As The Next Emerging Market Investment Frontier
November 29, 2021     Digital Assets, News

A report issued by Grayscale Research, a unit of Grayscale Investments, the largest digital asset manager in the world, describes the Metaverse as a potential market opportunity worth over $1…

https://dailyalts.com/wp-content/uploads/2021/11/34129579192_199424d914_c.jpg
Artificial Intelligence: UNESCO Member States Adopt The First Ever Global Agreement On The Ethics Of Artificial Intelligence
November 29, 2021     Artificial Intelligence, News

The first ever global standard on the ethics of artificial intelligence (AI) was adopted by the member states of UNESCO at its General Conference on Tuesday. Audrey Azoulay, director-general of…

https://dailyalts.com/wp-content/uploads/2021/11/DreamSports-Screengrab.jpg
Venture Capital: Indian Fantasy Gaming Group Dream Sports Raises $840M
November 29, 2021     Latest News, News, Venture Capital

Dream Sports announced last week its raise of $840 million from investors led by Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global, with the transaction valuing the…