Exclusive: Auxmoney makes first acquisition with Lender & Spender stake

German alternative lender Auxmoney has acquired a majority stake in the Dutch credit marketplace Lender & Spender, AltFi can exclusively reveal, marking its first foray into mergers and acquisitions. 

Both parties declined to reveal valuation details for the deal but Lender & Spender is currently originating c.€200m annually and has 32 employees, according to LinkedIn.

The two companies have had a partnership since last year.

M&A deal-making has been long expected to increase in the fintech sector, with 2023 seeing a heightened level of interest.

Lender & Spender, which launched in 2015, will continue to operate under its own brand in the Dutch market.

“It was very important for us to invest in a company that possesses leading technology and a high-quality team, Daniel Drummer, chief financial officer of Auxmoney, told AltFi.

At the same time, we are convinced that we can further accelerate the success of Lender & Spender with our tech and financing platform as well as our data expertise. The cooperation is already a real success model and potential blueprint to further acquisitions for which we see considerable potential in Europe,“ he added.

Düsseldorf-based Auxmoney has seen a spate of high profile funding deals for its loans with banks and other large financial institutions in recent years.

Growth has been organic over this period but the lender says it is not ruling out further deal making.

"Auxmoney has navigated very successfully through the recent volatile environment. We have been growing consistently for years and have reached profitability a while ago," Drummer said.

"We want to continue this positive development and now lay the foundation for further profitable growth, not at least through successful acquisitions as this one," he added.