auxmoney, a leading digital-lending platform for consumer credit in Europe, has successfully completed the acquisition of the majority share in the Dutch consumer credit marketplace Lender & Spender.
- Following the launch of an integrated partnership in 2022, auxmoney has acquired the majority of shares in Lender & Spender BV
- Lender & Spender is the leading tech-enabled credit marketplace in the Netherlands and will continue to operate under its own brand in the Dutch consumer market
- Since the start of the initial partnership with auxmoney, Lender & Spender has been growing its monthly origination volumes by more than 500 %
Düsseldorf/Amsterdam, 24th August 2023
auxmoney, a leading digital-lending platform for consumer credit in Europe, has successfully completed the acquisition of the majority share in the Dutch consumer credit marketplace Lender & Spender. With this step, auxmoney builds upon its continued organic growth over the past years and expands its international reach as well as its product range. The parties agreed that valuation details will not be disclosed at this stage.
Raffael Johnen, CEO at auxmoney, states:
“We are excited to announce this landmark acquisition and we welcome Lender & Spender to the auxmoney group today. The talent, expertise and passion of the team has allowed Lender & Spender to achieve remarkable growth so far. We are looking forward to support their next chapter as a senior partner and to work on further expansion plans in the near future.”
Lender & Spender was founded in 2015 and is the leading tech-enabled consumer credit marketplace in the Netherlands. The company currently employs 32 employees and originates annualized volumes of close to 200 million euro in new loans.
Robert Leclercq, CEO and Co-Founder of Lender & Spender comments:
“We are thrilled to enter this next phase of our partnership and become part of auxmoney’s European success story. In the past year, auxmoney has enabled us to fully leverage our platform and show strong increases in loan volumes. We look forward to joining forces as we see incredible opportunities for further growth. The combination of superior technology, data-driven processes and competitive funding will enable us to offer the best proposition on the Dutch market and gain further market share.”
Dr. Daniel Drummer, CFO of auxmoney adds:
“Completing this large-scale transaction is a particular show of strength for auxmoney’s tech-enabled platform capabilities. A key factor how we enabled Lender & Spender to achieve their remarkable progress was replicating the successful auxmoney funding strategy. Building on our own profitable operations and strong reputation in the capital markets, we can further accelerate the continued success of Lender & Spender. This transaction could well serve as a blueprint for other deals in the market.”
auxmoney and Lender & Spender had entered into an integrated partnership already in June 2022 whereby auxmoney had started to invest in the business and helped establish debt-based funding structures with a leading investment bank. Since the launch of the partnership, Lender & Spender was able to grow their loan origination more than fivefold and at strongly improved loan economics.
Lender & Spender will continue to operate under its own brand in the Dutch consumer market and remain being based in Amsterdam. The transaction remains subject to approval of local authorities.
auxmoney is a leading digital-lending platform for consumer loans in Europe. Through unique risk models and truly digital processes, auxmoney improves access to affordable credit while reducing the risk and cost of lending. Customers benefit from better rates and transparency. Many institutional investors like family offices, banks, insurances or specialized funds are taking advantage of the predictable returns achievable on the auxmoney marketplace. auxmoney is on the forefront of promoting and improving financial inclusion.
About Lender & Spender
Lender & Spender is an innovative online consumer lending platform in the Netherlands. The company was founded in 2015 by Robert Leclercq and Huub van der Wart and is supervised by the Dutch Authority for Financial Markets. Lender & Spender develops state-of-the-art technology to offer a leading customer experience at better rates.