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Home»Fintech»Auxmoney secures €500 million funding to invest in consumer loans
Fintech

Auxmoney secures €500 million funding to invest in consumer loans

August 3, 2022No Comments2 Mins Read
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auxmoney, a number one digital-lending platform for client credit score in Europe, has secured one other EUR 500 million to fund the origination of latest loans.

auxmoney will use this financing offered by Citi and Natixis to take a position into client loans by itself platform.

Daniel Drummer, CFO of auxmoney, states: “With two famend monetary establishments offering funding at scale, this deal underlines the profound belief of traders in auxmoney and the attraction of digital lending as asset class, even in a extra risky market surroundings. This funding dedication additional strengthens auxmoney’s glorious standing as a tech-enabled platform for institutional traders.”

Citi initially began lending to auxmoney in 2021, and is now extending its lending to a second facility with Natixis (by way of its ABCP conduit) becoming a member of as new senior lender. With its distinctive scoring expertise primarily based on digital information and advances in Synthetic Intelligence (AI), auxmoney offers traders with the likelihood to put money into actually digital client lending.

auxmoney CEO Raffael Johnen provides: “We’re on a mission to advertise and enhance monetary inclusion. With these extra strategic partnerships, we’ll allow extra folks throughout the credit score spectrum to borrow at aggressive charges, one thing that within the present macro surroundings is extra essential than ever. Our proprietary scoring and underwriting expertise allow us to constantly enhance our providing. It’s nice that increasingly sturdy companions help our mission and foster monetary inclusion with us.”

Boudewijn Dierick, Managing Director at auxmoney Investments, leads the group liable for this transaction. By extremely environment friendly and digital processes, auxmoney’s funding arm permits totally automated onboarding, threat evaluation and studies for traders.

See also  UK Fintech 9fin Raises $23 Million Series A+ to Accelerate Growth Plans in North America

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