The Mobile Bank N26 cooperates with credit marketplace auxmoney
N26 expands offering for loans in Germany through its partnership with auxmoney
Berlin/Düsseldorf, 31 July 2017 - N26 expands its range of consumer loans through a partnership with auxmoney, the leading credit marketplace in continental Europe. Thanks to this cooperation, N26 will soon offer loans to those who are self-employed or freelancers, among others. As with all other products, N26 offers customers access to the product from auxmoney with just a few taps, directly in the app. The appropriate loan will always be found according to the customers requirements, whether that product be offered by N26 or auxmoney.
The expanded loan offers include amounts from 1.000 to 25.000 Euros at a duration of 12 to a maximum of 60 months and interest rates from 3,95%, depending on maturity and credit rating. The N26 consumer credit, launched in February, is primarily aimed at creditworthy employees, the product from auxmoney also includes credits for students, the self-employed and freelancers. As of April this year N26 also offers a current account for the self-employed.
"We see a strong development towards platforms with multiple providers. However, these are often difficult for customers to use and entail time-consuming task of comparing the offers of multiple banks. Through this partnership we are combining the advantages of a platform with an exceptional user experience," says Valentin Stalf, founder and CEO of N26.
"The cooperation has a signalling effect for the banking world: N26 expands and improves the range of loans offered to its customers with auxmoney. We already cooperate with an increasing number of retail banks who can improve their loan offers via auxmoney. Now we are transferring this principle into mobile banking with N26", explains Raffael Johnen, CEO and co-founder of auxmoney.
The whole process from application to offer, verification and approval is completely digital and comes without any extra forms to be filled out. The customer first specifies their desired amount and then fills in questions about their personal situation directly in the app. This process is then followed by a digital credit check. A corresponding loan offer, either from N26 or auxmoney, follows in just a few seconds. An electronic signature is all that's required to complete the process and sign the contract. iOS users are able to use auxmoney immediately, the Android version will follow soon.
N26 is Europe's first Mobile Bank with a full European banking license and is setting new standards in banking. N26 has redesigned banking for the smartphone, making it simple, fast and contemporary. Opening a new bank account takes only eight minutes and can be done directly from your smartphone. Users receive a Mastercard to pay cashless or withdraw cash all around the world. They can block or unblock their card with a simple click and send money instantly to friends and contacts. N26 was founded in early 2013 by Valentin Stalf and Maximilian Tayenthal. In two years N26 has acquired more than 300.000 clients in 17 countries: Austria, Belgium, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Portugal, Slovakia, Slovenia, and Spain and currently employs 250 people. Since January 2015, N26 has been available for Android, iOS, and desktop. N26 has raised more than $55 million from investors including Li Ka-Shing's Horizons Ventures, Battery Ventures and Valar Ventures, in addition to members of the Zalando management board, Earlybird Venture Capital and Redalpine Ventures.
Website: n26.com | Twitter: @n26 | Facebook: facebook.com/n26
N26 Press Contact
auxmoney is the leading credit marketplace in continental Europe. More than 50,000 investors have funded over 70,000 loan requests with a total volume of more than EUR500 million. On auxmoney, private savers and institutional investors directly invest in approved borrowers of different score classes. Avoiding the bank as intermediary, auxmoney can make more favourable loans available to more people, while enabling investors to benefit from attractive risk-adjusted returns. Renowned investors such as Index Ventures, Union Square Ventures, Foundation Capital, Partech Ventures and Crosslantic Capital, a holding of ProSiebenSat1 Media, are invested in auxmoney.
Further information: www.auxmoney.com
Phone: +49 211 542 432 59
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