Auxmoney adds banking and finance veterans to board

German alternative lender Auxmoney has made a number of new appointments to its board including the former CEO of Barclaycard Germany as its chairman.

Auxmoney has appointed Carsten Höltkemeyer, the former CEO of Barclaycard Germany, as its executive chairman alongside a number of other senior bankers to its board.

The consumer lender, based in Germany, says it is the largest loan marketplace in Europe, bucked a trend of scepticism toward alternative lending last year with a €150m fundraise as well as scoring a funding deal with BNP Paribas.

Denis Hall, the former Global Consumer Chief Risk Officer at GE Capital, also is joining the Auxmoney board as chair of its risk committee. Hall also holds similar positions at other European banks, Cembra in Switzerland and Moneta in Czech Republic. 

Hall said: Auxmoney asset class is being validated in the current crisis. The robust and predictable loan performance is what appeals to funding providers, particularly in this environment of low interest rates.” 

Auxmoney has also formed a new Strategic Advisory Council to support its growth plans including Payal Jain, former Managing Director of Strategic Analytics at Barclaycard, currently a Managing Director at JCURV and Chair of Women in Data, Jürgen Lieberknecht, a former board member at Targobank responsible for the private client business, Frank Mattern, former Managing Partner of McKinsey in Germany and Axel Wieandt, formerly Head of Corporate Development and Corporate Investments at Deutsche Bank as well as CEO of Hypo Real Estate and Valovis Bank, who was an early investor and long-term independent board member of the lender.

“The appointment of these experienced Board and SAC members with proven financial markets expertise is another key step to support our growth trajectory. In 2020, we achieved two important milestones, having completed a major funding round for the company and signed a partnership with BNP to provide finance for our credit platform”, Raffael Johnen (pictured centre), auxmoney’s CEO and co-founder said. 

“Disruption of the finance industry is in full swing, with fintechs providing better solutions for more people by leveraging data and technology. We will resolutely continue on this path,” he added.