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German fintech targets to end 2019 with a boom

The Düsseldorf-based company auxmoney financed over half a billion euros in new loans in 2018 via its marketplace. As a result, the volume of loans increased by 74 percent compared to the previous year. Overall, the largest credit marketplace in continental Europe made new loans totaling € 551 million last year.

“We had planned growth of around 60 percent for 2018. We were able to significantly exceed this ambitious goal with 74 percent. That gives us a lot of tailwind for 2019,” said Raffael Johnen, CEO of auxmoney.

The high credit volume is borne by a broad base of private and institutional investors. In total, they financed around 73,000 loans via auxmoney last year. In the previous year, there were about 40,000 payouts. On average, 2018 loans totaling around 8,000 euros were completed.

Above all, the figures of auxmoney show how strongly the German credit market is moving. According to the Bundesbank, consumer loans amounting to around EUR 106 billion were concluded in Germany in 2018. With a volume of more than half a billion euros a year, auxmoney is now outperforming even medium-sized savings banks in new lending business. The sustained growth momentum proves that there is still a lot of potential in the market. Despite the strong growth of recent years, only about 15 percent of the total lending volume is awarded via the Internet today, according to the banking association.

Also published on Medium.

Published inFintech

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