German p2p lending marketplace Auxmoney announced that it has facilitated 551M EUR in consumer loans in the year 2018. Up 74% compared to 2017. Approximately 73,000 loans were financed. Figures published by the German Central Bank Bundesbank give the total volume of consumer loans in Germany in 2018 as 105.7 billion EUR (page 2, column 3). This figure does not include credit card debt and overdrafts. That would mean Auxmoney now stands for a market share of roughly 0.5% of the market.
CEO Raffael Johnen stated ‘While the major German banks are in crisis mode, the leading German fintechs are always setting new records, and with our continuously strong growth, we are the first p2p lending marketplace to catch up with medium-sized banks in Germany.’ (translated to English from the German original of the quote).
(Sources: Company press release, Finanz-Szene)