- Partnership with BNP Paribas facilitates proprietary investment on the auxmoney marketplace
- New auxmoney investment company acquires marketplace loans with 500 million euros available funding
- Hybrid model creates full alignment of interests with marketplace investors and underscores the appeal of the asset class
Düsseldorf, 10 November 2020 – auxmoney is taking the next big step on its way to becoming one of the leading digitally-enabled credit providers in Europe. auxmoney is entering a long-term partnership with BNP Paribas. With financing provided by BNP Paribas, auxmoney will for the first time acquire loans on its own marketplace. auxmoney will invest up to 500 million euros into the same loan product and on equal terms with all other marketplace investors, thereby creating full alignment of interest.
“With this step, we are further matching our interests with those of our marketplace investors. This alignment is a major quality seal underpinning our growth trajectory”, Raffael Johnen, CEO and co-founder of auxmoney, said in explaining this strategic step for his business. „We are setting auxmoney up to originate in the billions“, he adds.
Manish Chandra, Head of ABS Financing Europe at BNP Paribas, said: “The strength of auxmoney’s origination platform, underpinned by a robust and digital credit scoring model, has allowed it to consistently provide credit to consumers and self-employed in Germany over a number of years including through this most recent crisis. We are excited to cooperate with one of the leading European fintechs and look forward to the partnership with auxmoney and its new majority shareholder Centerbridge“.
“This is a major milestone in strengthening our platform for institutional investors. Partnering with BNP Paribas as renowned global player will accelerate our trajectory in establishing new investment structures at scale”, Daniel Drummer, CFO at auxmoney, adds.
auxmoney is the largest credit marketplace in Continental Europe. On auxmoney, private and institutional investors invest in pre-approved borrowers and benefit from attractive risk-adjusted returns. Through unique risk models and digital processes, auxmoney expands credit access and offers its customers a superior and easy user experience.