auxmoney
Experiences, reviews and information about the provider
(product costs may apply)
Details
Pros
- Its own credit assessment looks at more than just the Schufa score
- Self-employed people, freelancers and pensioners can also get loans
- Loan enquiry online and Schufa-neutral
- Lending and administration through a BaFin-licensed partner bank
Cons
- No banking licence of its own; auxmoney is a broker and platform operator
- No deposit protection, as it takes no deposits
- Interest rates for weak credit are much higher than for traditional instalment loans
- No new investments possible for private investors since 2022
Fact sheet: auxmoney
| Company name | auxmoney |
| Founded | 2007 |
| Headquarters | Düsseldorf |
| Country | 🇩🇪 Germany |
| BaFin-regulated | No |
| Deposit protection | €0 |
| Type | kreditvergleich |
| Website | auxmoney.com * |
About auxmoney
auxmoney GmbH was founded in 2007 and is based in Düsseldorf; since 2020 the US investor Centerbridge has been its majority shareholder. auxmoney runs a loan marketplace but is not a bank itself: the company holds a permit for loan brokerage under section 34c of the Trade Regulation Act (Gewerbeordnung) and is supervised under trade law by the City of Düsseldorf, not by BaFin (the German financial regulator). The instalment loans it arranges are granted and administered by SWK Bank as the licensed credit institution, and they are now refinanced mainly by institutional investors; the original peer-to-peer business with private investors was closed to new investments in 2022. There is no deposit protection (Einlagensicherung), as no customer deposits are taken. The platform is mainly of interest to self-employed people, freelancers or applicants with average credit who have a harder time with traditional banks.
Special features
- Founded in 2007, one of the first loan marketplaces in Germany
- Permit under section 34c GewO, supervised by the City of Düsseldorf
- Loans granted and administered through SWK Bank
- Majority-owned by the investor Centerbridge since 2020
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