What is Mintos Invest&Access?
Mintos Invest&Access is a strong Bondora Go&Grow competitor. The new product is an excellent offer for investors that are new to P2P lending, demand instant access to their investments and good diversification.
We know that Invest&Access is comming here are some hints. Several months ago in interview with Mintos Head of Product, Marcis Gogis he said exactly this:
“We will still be working on our core product that has proved to be a success according to the achievements we have made so far. That core product is investments in loans. We will continue making that function more user-friendly while adding additional features inspired by our investors and developed by our teams.”
Currently 85% of Mintos investors are using auto invest. So the next logical step for Mintos was to make a fully automated and diversified investment product which is exactly what Mintos Invest&Access is.
Mintos Invest&Access most important features
There are some very important features for the new Mintos Invest&Access product, which I would like to highlight:
Nice almost 12% expected return rate
Expected return on Invest&Access is almost 12%, but it’s not guaranteed neither caped like Gp&Grow. How much you can earn depends on what’s in your portfolio and what’s available on the market.
Mintos will show you the weighted average interest rate for your portfolio on your Invest & Access page.
Easy to get invested
You just need to specify the amount you want and get it instantly invested. The minimum Invest&Access portfolio size is just 500 euro. If you specify bigger amount than your current account balance it will invest automatically future balance until the maximum specified size is reached.
Easy to access your money
Investors can cash out instantly and get their money back. Of course this instant liquidity is not guaranteed and depends on market conditions, but the same is true for the money in your bank account.
To assure liquidity the loans from portfolio will be offered first to other Invest&Access investors than to secondary market, if needed. Since Mintos promises instant liquidity the platform is ready to act as market maker, if necessary. This is how Martins Sulte answered a question from the audience, when he was asked about instant liquidity. But at least the preliminary and still unofficial information I found is quite different.
Instant liquidity? Well, almost.
With Mintos Invest&Access you can get your investment back any time – even if the loans haven’t reached maturity. The investors can request how much they want to withdraw from Invest & Access portfolio. Mintos then sell loans to other investors and credit the money to your account. Investors will usually get your money instantly, depending on market demand. With one big exception!
No instant liquidity for late loans
The instant liquidity is not applied for late loans in your Invest&Access portfolio. Mintos said this feature is “coming soon”, but you can get your money when they recover or reach buyback. Or you can sell them on the secondary market from the My Investments page. This is quite different from Bondora Go&Grow.
Liquidity is not guaranteed
With Invest&Access you should be able to access your money anytime under normal market conditions. Here is how Mintos defines this:
Normal market conditions means conditions where investors are willing to invest in loans. Since Mintos was founded in January 2015, we have experienced normal market conditions. Nonetheless, past performance does not guarantee future performance, and abnormal market conditions could conceivably change the availability of your money. Abnormal market conditions would be if there was a very large, sudden and extended demand to cash out from Invest & Access. This might be caused by a global recession, an abrupt and widespread loss of faith in investing in loans or a number of other situations. If, for a sustained period, a significant number of investors chose to cash out in significant quantities and no (or few) new investors were willing to invest in their loan shares, conditions would at that point be abnormal. Ultimately this could mean that investors may have to wait until a buyer could be found for their loan shares in their Invest & Access portfolio, or until the loans were repaid over time by the borrowers.
The definition is fair and no P2P platform or even banks can honestly promise instant liquidity to their investors or savers.
Secure and diversified investment portfolio
Mintos Invest&Access only invests in loans with buyback guarantee and automatically builds most diversified portfolio. This is a sample how it can look like:
To lower overall the risk the loans in Invest&Access portfolio comes only from originators that have been on Mintos platform for at least 6 months and provide buyback guarantee. This criteria are met by about 40+ originators now. We can expect very good portfolio diversification with 2-15% loans from a single originator. The portfolio is dynamically rebalanced every day and all repaid money will be reinvested.
Access new loans ahead of others
Mintos Invest&Access portfolios will have first access to new loans before they are listed on primary market. This is big, since the best loans may never reach auto investing portfolios, not to mention investors that invest manually.
Mintos Invest&Access is free from any fees. There is no even withdrawal fee like 1 euro on Bondora Go&Grow.
Invest&Access compared to current Mintos investment options
Please note that this is unofficial information I gathered from Martins Sulte presentation on P2P Conference 2019 in Riga and other I belive trustworthy sources, but it is not officially confirmed by Mintos.
Mintos Invest&Access will be available to investors starting Monday, 10th of June 2019. I can’t wait to try it!
What the future holds for Mintos
Most important new products we can expect form Mintos this year are:
- European e-Money license
- Personal IBAN and Mintos debit card
- Mintos Mobile App
Mintos Mobile App is expected in September or October this year. And the personal IBANs and debit card before the end of this year.
Join Mintos today and get 1% cashback bonus
If you are not one of the more than 140,000 investors, join the biggest European peer to peer marketplace platform today and get 1% cashback bonus for the first 90 days on top of already great 11.6% average annual return rate, if you register at https://vivainvest.eu/join-mintos
Get 1% cashback bonus
join more than 140,000 investors
I would like to hear your opinion and discuss Mintos as well as other P2P platforms available for European investors in a special Facebook group https://www.facebook.com/groups/P2PLendingEurope/. You guys are very welcome!