In 2019, Auxmoney said it had paid out loans of around 700 million euros.
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(Photo: Auxmoney)
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Berlin With institutional help, the credit marketplace Auxmoney wants to ensure that the demand for credit can also be met in the future. “This is a consistent further development of our company”, said the co-founder and managing director of Auxmoney, Raffael Johnen, the Handelsblatt.
In a first step, private investors provided money to finance loans. Then institutional investors came along. “And now we are also investing alongside our marketplace investors on our own platform,” said Johnen, without wanting to crowd out other investors.
To finance its part in the transaction, Auxmoney is partially using the funds that the US investor Centerbridge has made available. Centerbridge invested 150 million euros in the company two months ago and has been the majority owner since then.
Johnen gave no information about the proportion of BNPwhich is made available via borrowed capital for the purchase of loans. Auxmoney will set up its own company for the marketplace loans taken on its own books.
Johnen does not see the danger that investors could smell cherry-picking and jump off. On the contrary: “If we invest ourselves, it is a vote of confidence in our business model for investors. In addition, the credits are allocated at random – nobody is given preference. “
According to the management consultancy Berg, Lund & Company, the corona crisis has affected the credit platforms. Johnen also admits that the originally envisaged growth targets for 2020 cannot be achieved. Last year the company extended loans of around 700 million euros to private individuals and the self-employed.
“We did not have any significantly increased failures, but we have proactively refined the risk criteria,” says Johnen.
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