Finance Breaking news German loan marketplace auxmoney raises €150 million last financial news
Breaking-Finance.Com - German peer-to-peer lender auxmoney has raised a mammoth €150 million in growth capital in an investment round led by Centrebridge Partners.
Breaking-Finance.Com - German peer-to-peer lender auxmoney has raised a mammoth €150 million in growth capital in an investment round led by Centrebridge Partners. In addition to the equity investment, Centrebridge is also acquiring share from other investors, taking a majority stake in the German fintech. Existing VC investors such as Index Ventures, Union Square Ventures and Foundation Capital remain fully on board.The firm, which claims to operate the largest credit marketplace in the Eurozone, has seen loan volumes grow twenty-fold over the past five years.Raffael Johnen, auxmoney CEO and co-founder, says the investment round, raised in the midst of a global pandemic, represents a strong vote of confidence in its business model.
. "Together we are pursuing the goal of developing auxmoney into a leading digital credit provider in Europe."Maximilian Rinke, managing director at Centerbridge says the firm has “immense growth potential". "The German loan market is still characterised by traditional scoring methods and manual processes," he says. "Through automation, auxmoney is providing more and more people easier access to the credit they deserve. In doing so, auxmoney sets new standards for its customers and cooperation partners."
Source = Breaking-Finance.ComFinancial breaking news