Germany’s largest portal for P2P loans sets two milestones and has funded 5000 credit projects with a total of EUR 20 million in personal loans. Dusseldorf, 29 December 2013. For investors, it is an excellent alternative to bonds or time deposits, for borrowers, it is another way of borrowing: loans from private to private (P2P lending). auxmoney.com, Germany’s largest portal for P2P loans sets two milestones and has funded 5000 credit projects with a total of EUR 20 million in personal loans. Innovative products in a multibillion-dollar market to bring further growth. The auxmoney GmbH operates the Internet platform a simple and at the same time revolutionary business model: credit intermediation by individuals to individuals. This is relatively new in Germany and so far little known. While the benefits are obvious: borrowers an alternative to borrowing at the Bank offers.
Basically everyone, whether in the trial period, independent or freelancer has a Chance of a loan. Investment in retail lending: instead of bonds or time deposits who wants to invest money, finds in personal loans an exciting alternative to bonds or time deposits which investors can achieve currently average around 13 percent interest. The risk of credit failure in individual projects met auxmoney practices: with an efficiently organized accounts receivable management and the possibility for the investor with amounts from 50 euro to invest in credit projects. This allows to quickly create of an own portfolio of personal loans, to spread the risk. In addition to the attractive yield opportunity many investors are excited about the possibility, not an anonymous bank, but specifically a people with his destiny or his business idea to allocate their money.
The largest German platform for loans from private persons to private persons make auxmoney.com over 285,000 members and regularly almost 3,000 current credit projects. Two milestones: 5,000 personal loans and 20 million euros mediated before five years, in March 2007 is auxmoney with this business model launched. Now you can observe a continuous increase in funded credit and auxmoney succeeded shortly before the turn of the year to set another important milestone: on December 28, 2013, a total of 5,000 credit projects with a total volume of over 20 million euros were from owners privately conveyed. Potential: Gigantic in the long term we want to convey in a billion dollar market this amount monthly. The credit market in Germany is big enough for this”, Philipp Kriependorf, Managing Director of auxmoney GmbH, which operates the portal reported. How the Banking Association report, German consumers have financed consumer goods for EUR 155 billion end of 2012. As operator of the largest German market for personal loans we see here huge potential with gigantic growth rates”, prophesied Kariuki. Worldwide new: Private car loans Center December auxmoney ‘ P2P car credit ‘ on the market brought – a personal loan to the Car financing. This model is unique in the world and is a true innovation ‘Made in Germany’ “, describes this new form of lending Kariuki.