Centrebridge acquires majority stake in Auxmoney

The investment is still subject to competition authority approval.

Existing investors Index Ventures, Union Square Ventures and Foundation Capital will also remain invested in the business, according to a statement from Auxmoney.

The company plans to use the fresh capital to develop its digital credit platform and intends to develop in the sector via digitalisation and consolidation, Auxmoney said in the same statement.

Centerbridge manages both private equity and private debt strategies, and is currently on the road for its fourth credit fund, according to a report from Reuters.

Previous funding
Index Ventures and Union Square Ventures invested $12m in Auxmoney in March 2013.

In May 2014, Foundation Capital, Partech Ventures, Index and Union Square took part in a $16m series-B funding round for Auxmoney.

New investor Seven Ventures joined existing backers Index, Union Square and Foundation Capital in a round for Auxmoney in March 2016.

Company
Auxmoney is an online credit marketplace, facilitating private and institutional investors to invest in borrowers who have been checked by the site, generating returns on their investments. The company was founded in 2007 and is based in Düsseldorf. It has 172 employees, according to LinkedIn. It began operating profitably from H2 2017, according to press reports.

People
Centerbridge – Maximilian Rinke (managing director).
Auxmoney – Raffael Johnen (CEO, co-founder).

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• Topics
• Expansion
• DACH
• Technology
• Germany
• Index Ventures