Auxmoney buys majority stake in Dutch credit marketplace Lender & Spender
Auxmoney, a digital consumer lending platform based in Düsseldorf, Germany, has acquired a majority stake in the Dutch consumer credit marketplace Lender & Spender.
The deal is expected to see Auxmoney build upon its “continuous organic growth of recent years”, which will include the expansion of its international reach and product range.
Raffael Johnen, CEO at Auxmoney, attributes Lender & Spender’s “remarkable growth” to the technical skills and quality of its team, adding that the deal will further support the company’s “next chapter” and future development.
For Daniel Drummer, Auxmoney’s CFO, the deal demonstrates “the growing strength” of its platform, while he attributes Lender & Spender’s progress to “the successful use of our own financing platform”.
“We will continue to contribute to the sustainable growth of Lender & Spender by building on our own profitable business and our expertise in the capital markets business,” he states, adding that this acquisition, which is Auxmoney’s first, could serve as a “template” for future deals.
The pair first came together a year ago, when Auxmoney made its first investment in the Dutch marketplace to support the development of its financing structures. During that time, it is claimed that Lender & Spender’s disbursed loan volume increased “by more than five times” while its lending business has also reportedly enjoyed higher profitability.
Lender & Spender’s CEO, Robert Leclercq, who co-founded the Amsterdam-based company in 2015, says the partnership has enabled it to “massively expand our platform and greatly increase our loan volume”.
“The combination of cutting-edge technology, data-driven processes and competitive refinancing will allow us to make the best offer in the Dutch market and gain further market share,” he states.
Both sides have initially agreed not to disclose the valuation of the transaction.