Mintos is the biggest peer-to-peer (P2P) lending marketplace for retail investors in continental Europe. It has raised €5 million Series A round from Grumpy Investments. The fintech startup will use the financing to provide its users with personal IBAN accounts and debit cards, and to double the size of its team as it expands globally.
Mintos grows rapidly
Mintos has a fast-growing customer base of more than 89,000 investors from 71 different countries. With 100,000 registered investors forecasted by the end of the year, and 300,000 by the end of 2019, Mintos will be focusing efforts on investor acquisition and expanding to additional global markets.
The company has already facilitated more than €1.28 billion in investments in loans through its marketplace, putting it as the largest marketplace of its kind globally. Investors have received a total of €27 million in interest through loans to individuals and businesses and have attained an average net return of nearly 12% annually.
With their own personal IBAN accounts, investors will be able to make and receive payments from around the world, and even to receive a salary directly to their Mintos account. The Mintos card will also allow investors to make transactions around the world or online and withdraw money at ATMs.
Mintos is applying for e-money license to achieve this goal. As an Electronic Money Institution, Mintos will protect money held by investors under the European PSD2 legislation. Becoming regulated by EU authorities will make Mintos even safer place for investors.
Mintos CEO speaks about the future
Martins Sulte, Mintos CEO and co-founder said:
“Providing customers with a personal IBAN account and debit card will mark a major leap in our services and significantly improve the user experience. Soon, everybody with their own IBAN accounts will be able to give the account details to their friends, companies or customers to get paid, to pay using a debit card, and to continue using Mintos for investing in loans around the globe and earning great returns. Our upcoming mobile app will make it even more convenient. We have been profitable since January 2017, but we see a huge opportunity to expand on a much larger scale and speed. Additional funding will help us to even faster execute on building great products and new services to our clients globally, invest in hiring the best team and expand geographically, to Latin America, Africa, and Southeast Asia.”
Invest on Mintos for great returns
You can start investing on Mintos today and get 1% bonus for the first 90 days on top of already great 11.6% average annual return rate, if you register via this link.