Chenavari and Citigroup invest EUR 25 million in Auxmoney

Friday 9 April 2021 14:26 CET | News

The US Citigroup and Luxembourg-based asset manager Chenavari have announced investing EUR 25 million in lending to Germany-based peer-to-peer loan marketplace AuxMoney.

Auxmoney management announced that it planned to invest directly in digital loans for its own financial marketplace, after its last financing round of EUR 150 million. The fintech aimed to find further partners, to aid them in investing in loans and Citigroup and Chenavari are now providing a total of EUR 250 million for this project.

An Auxmoney representative has stated that this financing shows the attractiveness of digital loans as an asset class. The company promises the next loan investments will happen soon and is already preparing further partnerships. Loans granted through Auxmoney were initially financed by private investors and institutional investors were added later on. Since the end of 2020, the platform operators have also been investing in lending themselves. Auxmoney also entered into a partnership with the France-based bank BNP Paribas in 2020, with whose help Auxmoney plans to invest up to EUR 500 million in digital loans.

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Keywords: investment, digital assets, partnership, digital banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Germany
This article is part of category

Banking & Fintech