N26 partners with Auxmoney to offer credit to some-more customers

Fintech startup N26 is perplexing to build a bank of a future. It is solemnly though certainly adding facilities to yield all you’d design from a bank. N26 already offers consumer credit loans in Germany if you’re a creditworthy employee.

And starting today, N26 users who are self-employed, freelancers, students and some-more can also ask a loan interjection to Auxmoney.

If you’re not informed with Auxmoney, a startup matches particular lenders with particular borrowers. It’s a credit marketplace like LendingClub, Younited Credit and more. It’s not for everyone, though if you’re an surprising borrower, Auxmoney can assistance you.

Now, if we go to a Credit add-on in a N26 app, you’ll be asked how most income we want, a generation of a amends and your stream situation. Depending on your status, N26 will automatically suggests a best credit underline for you.

So if you’re a unchanging worker with a solid income, N26 will possibly give we income itself or compare we with a third-party bank behind a scene. If you’re a freelancer, N26 will advise lending income by Auxmoney.

Both products let we steal between €1,000 and €25,000 during a generation of 1 to 5 years. It’s tough to tell we about seductiveness rates as it’ll severely change depending on how most income you’re seeking for and your situation.

This is a good further as anyone can now open a credit line regulating N26’s app. You don’t need to open another bank comment or pointer adult to a third-party — it’s a seamless integration.

Once again, this underline is singular to Germany. While it’s good to see that German business can now invest, save and steal income regulating N26, we wish that a startup is going to launch identical facilities in other markets as well. That’s how we build a truly European bank.

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Posted by on Jul 31 2017. Filed under Startups. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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