Auxmoney, a German digital consumer lending platform, has acquired a majority stake in Dutch consumer credit marketplace Lender & Spender to support their growth and expand internationally.
- Auxmoney, headquartered in Düsseldorf, Germany, has acquired a majority stake in the Dutch consumer credit marketplace Lender & Spender.
- The acquisition aims to build upon Auxmoney’s recent organic growth, including international expansion and product range diversification.
- Raffael Johnen, CEO at Auxmoney, attributes Lender & Spender’s impressive growth to its skilled team and sees this deal as vital for Auxmoney’s future development.
- Daniel Drummer, Auxmoney’s CFO, highlights the strength of their platform and credits Lender & Spender’s progress to the successful use of Auxmoney’s financing platform.
- Auxmoney plans to contribute to Lender & Spender’s sustainable growth by leveraging their profitable business and capital market expertise, potentially setting a template for future acquisitions.
- This partnership initially began a year ago when Auxmoney invested in Lender & Spender, resulting in a substantial increase in disbursed loan volume and higher profitability for the Dutch marketplace.
- Lender & Spender’s CEO, Robert Leclercq, acknowledges that the partnership has significantly expanded their platform and increased their loan volume, leveraging technology, data-driven processes, and competitive refinancing.
- The financial terms and valuation of the transaction have not been disclosed by either party.