Mintos is a peer-to-peer lending platform in Europe. Like many other FinTech companies of this type, it is based in the Baltic region; in Latvia specifically.
Currently, Mintos has three offices employing people in Riga, Warsaw and Mexico City, with offices shortly opening in Brazil, Russia, and Southeast Asia.
Mintos started operating in 2015, but has experienced rapid growth due to getting a lot of things right and becoming popular with financial bloggers due to its ease of use and transparency.
Although it’s still early days for P2P lending in general and Mintos as a platform, they have some incredible numbers to be proud of.
The average net annual return for investors is 11.97% as of March 2020, with more than 280,000 investors registered from all over the world, €5bn invested, and an average investment of €4,128 and more €88,000,000 in interest paid to investors. Mintos is also the only double award winner at the annual AltFi awards of 2019.
Another important statistic to look at is the loan book growth, and here again, Mintos is doing very well as can be seen in the following screenshot.
The total money invested so far is higher than 2.2 billion Euros, which is a staggering number for such a young platform. There is no doubt that Mintos is the biggest player in P2P lending in Europe at the moment. There are some good competitors, but none of them provide the security and track record that Mintos does.
All their employees (60+ as of June 2019) are listed on their website and this is a nice touch that enhances the feeling of transparency and peace of mind. I am one of those who take a look at these pages on a website and use them when judging whether I should invest on a platform or not. Everything counts.
Mintos is a platform that is in line with EU law, so when you invest you won’t have any trouble with your accountant or tax authorities back home in terms of explaining what you are doing.
Finally and very importantly, Mintos as a company is profitable, so they are not only running on investor money but are actually turning a profit, which means that they have a much higher chance of standing the test of time compared to some other competitors that are still in startup mode.