auxmoney GmbH, a Düsseldorf, Germany-based online peer-to-peer lending marketplace, raised an eight-digit funding round.
Backers included SevenVentures, Index Ventures, Union Square Ventures and Foundation Capital.
The company intends to use the funds to continue to increase its marketing efforts and expand operations.
Led by Raphael Johnen, co-founder and CEO, auxmoney operates a peer-to-peer lending platform for personal loans that connects credit-worthy borrowers and investors. The platform works by assessing applicants’ risk and then allowing investors to lend directly to individuals or spread their money across a number of loans.
In 2015, the company tripled the volume of loans to nearly €100m (€33.1m in 2014).
FinSMEs
02/03/2016