Auxmoney GmbH
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 | |
| Private (GmbH) | |
| ISIN | 🆔 |
| Industry | Financial services, Fintech |
| Founded 📆 | 25 July 2007 |
| Founders 👔 | Raffael Johnen, Philip Kamp, Philipp Kriependorf |
| Headquarters 🏙️ | , , Germany |
Area served 🗺️ | Germany, Netherlands |
Key people | Raffael Johnen (CEO), Daniel Drummer (CFO) |
| Services | Online credit platform |
| Revenue🤑 | €171 million (2023)[1] |
| Owner | Centerbridge Partners (majority stake)[2] |
| Members | |
Number of employees | |
| Parent | Auxmoney Europe Holding Ltd. |
| Subsidiaries | Lender & Spender |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Auxmoney GmbH is a German financial technology company headquartered in Düsseldorf. It operates an online platform for consumer loans, which are issued by a partner bank and financed by institutional investors.[3]
Initially founded as a peer-to-peer lending marketplace, Auxmoney shifted its business model to focus exclusively on institutional funding.[3] The company gained media attention for major financing rounds, including the acquisition of a majority stake by U.S. investor Centerbridge Partners in 2020,[2] and for its expansion into the Netherlands by acquiring a majority in the Dutch platform Lender & Spender.[4] In 2023, the company generated revenues of €171 million.[1]
History
Auxmoney was founded in 2007 by Raffael Johnen, Philip Kamp, and Philipp Kriependorf.[5] The initial business model was based on crowdlending, where private individuals financed the loans brokered through the platform. The processing was handled by SWK Bank.[5]
The company attracted capital from investors such as Index Ventures and Union Square Ventures in several financing rounds.[2] In 2018, the total volume of arranged loans exceeded one billion euros.[6]
A significant shift in the business model occurred in 2020 when the US private equity investor Centerbridge Partners acquired a majority stake.[2][7] In the same year, Auxmoney began a €500 million investment partnership with the French bank BNP Paribas to invest in loans on its own platform.[8] This marked a move towards institutional investors.
In May 2022, the company ceased its peer-to-peer lending model and has since financed loans exclusively through institutional investors and securitisation on the capital market, some of which are structured as social bonds.[3][9][10]
In 2023, Auxmoney acquired a majority stake in its Dutch competitor Lender & Spender, expanding its operations into the Netherlands.[4]
Business model
Auxmoney's platform allows individuals to apply for loans between €1,000 and €50,000. The company acts as an intermediary, while the loan itself is originated and serviced by a licensed bank.[11]
The company uses a proprietary scoring system for risk assessment, which incorporates various data points beyond traditional credit bureau information.[12] Loan applications are free of charge for the consumer; Auxmoney receives a commission upon successful loan arrangement.
Criticism
In 2009 and 2013, the German consumer protection organization Stiftung Warentest criticised Auxmoney's fee model. The initial report focused on fees charged even if a loan was not successfully funded. The company subsequently changed its terms, making the arrangement commission dependent on the loan's disbursement, a change noted in the 2013 follow-up report.[13]
Media outlets have also discussed the higher risk for investors on peer-to-peer platforms like Auxmoney, as they often served borrowers who had been rejected by traditional banks.[14] This criticism mainly pertains to the company's former crowdlending model.
External links
References
- ↑ 1.0 1.1 Heinz-Roger Dohms (2024-04-03). "Das nächste deutsche Unicorn? Auxmoney fährt Umsatz krass nach oben". Finanz-Szene (in Deutsch). Retrieved 2024-04-10.
- ↑ 2.0 2.1 2.2 2.3 Tim Kanning (2020-09-02). "Auxmoney: Größte Fintech-Finanzierung des Jahres". Frankfurter Allgemeine Zeitung (in Deutsch). Retrieved 2024-04-10.
- ↑ 3.0 3.1 3.2 Ralph Wefer (2022-05-02). "Aus für Privatanleger: Auxmoney beendet Peer-to-Peer-Kredite". Verivox (in Deutsch). Retrieved 2024-04-10.
- ↑ 4.0 4.1 Dennis Schwarz (2023-08-24). "Kreditplattform: Auxmoney übernimmt Mehrheit an niederländischem Konkurrenten". Handelsblatt (in Deutsch). Retrieved 2024-04-10.
- ↑ 5.0 5.1 Thorsten Breitkopf (2014-10-12). "Auxmoney aus Düsseldorf lässt Schwarm-Finanzierung boomen". Rheinische Post (in Deutsch). Retrieved 2024-04-10.
- ↑ Felix Disselhoff (2018-08-08). "Auxmoney knackt Kredit-Milliarde: Das irre Wachstum des Ur-Fintechs". FinanceFWD (in Deutsch). Retrieved 2024-04-10.
- ↑ Tamara Weise (2020-09-02). "Centerbridge übernimmt Mehrheit bei Kreditmarktplatz Auxmoney". FinanzBusiness (in Deutsch). Retrieved 2024-05-13.
- ↑ Frank Matthias Drost (2020-11-10). "Kreditmarktplatz: Auxmoney kauft jetzt selbst Kredite im großen Stil". Handelsblatt (in Deutsch). Retrieved 2024-04-10.
- ↑ Daniel Rohrig (2021-10-01). "Auxmoney lanciert erste Verbriefung via Social Bond". FinanzBusiness (in Deutsch). Retrieved 2024-07-23.
- ↑ Björn Godenrath (2024-01-31). "Hohe Nachfrage von Investoren: Auxmoney verbrieft Konsumentenkredite". Börsen-Zeitung (in Deutsch). Retrieved 2024-07-23.
- ↑ Florian Rinke (2019-06-04). "Auxmoney-Gründer Philipp Kriependorf: "Die Börse würde mich reizen."". Rheinische Post (in Deutsch). Retrieved 2024-04-10.
- ↑ Marina Rößer (2022-06-16). "Auxmoney: Keine Diskriminierung mehr bei der Kreditvergabe". W&V (in Deutsch). Retrieved 2024-04-10.
- ↑ "Smava und Auxmoney – Privatkredite im Internet". test.de (in Deutsch). Stiftung Warentest. 2013-05-21. Retrieved 2024-04-10.
- ↑ Lara Janssen (2019-04-07). "Fintechs – Riskantes Spiel". Süddeutsche Zeitung (in Deutsch). Retrieved 2024-04-10.
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