German P2P Lender Auxmoney Sees Growth
Auxmoney, a German peer-to-peer lending company, has seen some significant growth during the last few months.
The company issued the following press release today:
Düsseldorf, 7. February 2012. auxmoney.com, Germany’s largest internet platform for peer-to-peer loans, is delighted to announce that more than 1.7 million euros of private loans were successfully funded on auxmoney’s proprietary lending platform in the month of January. It was the first time in the company’s 5-year history that the loan book grew by more than one million euros in a single month. Two recently introduced product innovations delivered a “double-whammy” impact, catapulting auxmoney into the top tier of Europe’s leading players in peer-to-peer lending.
January’s loan volume reached a total of 1,740,900 euros, a level more than twice as high as that achieved in December 2011 (765,400 euros). In fact, it appears that the January financing volume on auxmoney.com was higher than that of any other peer-to-peer lending platform in Continental Europe.
Since the launch of auxmoney.com in early 2007, more than 5,500 private loans have been successfully financed by private individuals – an aggregate loan volume of more than 22 million euros. The record result of January 2012 demonstrates the dynamic and continuing growth momentum of auxmoney.com.
Product initiatives continue to drive auxmoney.com
In December 2012, the company launched the “private-to-private car loan” facility which enables borrowers to purchase cars with a secured loan financed on auxmoney.com. The car serves as collateral in connection with this loan. This contributed meaningfully to the increase in lending volumes on auxmoney.com.
The company also recently introduced the “stop at 100%” function which enables borrowers to accelerate the funding of their loan projects. This equally proved to be highly popular within auxmoney’s client base.
Philipp Kriependorf, managing director of auxmoney.com, said:
“The stellar growth of our platform in January is to a large extent the result of the two recently introduced innovations. auxmoney is constantly breaking new ground, making it easier for borrowers to access the funds they require, simultaneously making peer-to-peer loans an increasingly popular asset class for investors. Our proven ability in adapting our product offering to our market’s evolving needs will keep us on our fast-track growth path for the years to come. I believe auxmoney is well on track towards becoming the largest peer-to-peer platform in all of Europe.”