German digital lending firm Auxmoney has secured a €500 million credit line to fund new consumer loans on its platform.

The financing has been provided by American multinational investment bank Citi and French corporate and investment bank Natixis through its asset-backed commercial paper (ABCP) conduit.

Auxmoney is an online peer-to-peer loan marketplace, founded in 2007. Its lending platform enables private consumers to borrow from private investors.

Citi partnered with Auxmoney in 2021 and is now extending its lending to a second facility alongside Natixis, which joins as a new senior lender.

Daniel Drummer, chief financial officer (CFO) of Auxmoney, says the deal underlines the appeal of digital lending as an asset class “even in a volatile market environment”.

Auxmoney CEO Raffael Johnen adds the debt facility from Citi and Natixis supports the firm’s “mission” to improve financial inclusion.

“With these additional strategic partnerships, we will enable more people across the credit spectrum to borrow at competitive rates, something that in the current macro environment is more important than ever.”