Auxmoney is an online lending platform based in Germany; the platform grew origination volumes by 75% in the year to €316 million across 40,000 loans; the company now has lent around €700 million across 100,000 loans to date; last year auxmoney announced a partnership with digital bank N26 to expand their borrower base; auxmoney was profitable for the first time in the second half of 2017 which sets them apart from many platforms. Source
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N26 has partnered with Auxmoney to offer consumer loans; the partnership will open the loan offering to the digital bank's over 300,000 customers, providing options for self-employed, freelancers and students; loans will range from EUR1,000 ($1,181) to EUR25,000 ($29,527) with terms ranging from 12 to 60 months and annual interest rates beginning at 3.95%. Source
Marketplace loans are becoming more integrated into institutional portfolios however institutional investors are still only beginning to take interest in marketplace lending investment allocations; in Europe, Aegon has made a significant institutional investment in marketplace loans from Auxmoney; the investment demonstrates that institutions such as insurance companies are getting comfortable with the asset class; it could also cause increased investment in P2P loans in Europe specifically where fixed income yields are historically low. Source
Aegon has announced it will allocate 1.5 billion euros ($1.6 billion) of its investment portfolio to Auxmoney P2P loans; the platform offers average returns of 5.5%; the investment represents one of the market's largest institutional endorsements in P2P loans; Aegon is also involved in a 15 million euro ($16.03 million) Series E funding round for Auxmoney. Source