Mintos reaches €3bn loans milestone
Latvian start-up Mintos has achieved €3 billion in loans financed, just four months after reaching the €2 billion milestone, writes Jane Connolly.
EU Start-ups reports that the company, which provides a global marketplace for investments in loans, has also doubled its workforce to 140 employees in the same period. It plans to increase its staff to 200 by the end of the year.
The fintech works with over 60 alternative lending companies and offers loans for investment to more than 170,000 investors around the world. Founded five years ago, the company now has offices in Riga, Berlin, Warsaw and Vilnius.
Mintos CEO and co-founder Martins Sulte says the market opportunity is huge and the company will continue to focus on growth.
He adds: “Reaching the €3 billion milestone in just four months after achieving our previous milestone is a further encouragement that we are on the right track of opening up a new asset class to retail investors and rethinking how money flows from those who want to save and invest to those who want to borrow. We have fast become the go-to marketplace for people who want to invest in loans because of the sheer volume of loans and diversification opportunities we offer.”
With three different products, offering both manual investing and automatic solutions, Mintos offers the chance to buy fractions of loans across the marketplace. Investments can start from €10 and investors have so far seen an average return of 12% per year.