auxmoney, a Düsseldorf, Germany-based online marketplace for peer-to-peer loans, raised $16m in funding.
The round was led by Foundation Capital, with participation from Partech Ventures and Scott Bommer and existing backers Index Ventures and Union Square Ventures.
The company intends to use the funds to grow operations by further enhancing its lending and investment platform and expanding its 60-strong team.
Founded by CEO Raffael Johnen, Philipp Kriependorf and Philip Kamp in 2007, auxmoney is a platform which enables private borrowers to secure personal loans funded by private and institutional investors. It also provides borrowers with a proprietary scoring system, which combines in-depth consumer scoring knowledge with the latest online social and behavioural data.
Private consumers can borrow up to €25,000.
To date, the company has facilitated almost 20,000 loans worth $140m to private borrowers, over 50% of which were issued in the last 12 months.
12/03/2013: Auxmoney Raises $12M in Funding