Mintos opens crowdfunding on Crowdcube

Latvian lending platform Mintos is launching a crowdfunding campaign on Crowdcube today. By doing so, the platform hopes to raise additional growth capital. It has plans for further international expansion and to launch new investment products.

Mintos is a Latvian online marketplace for peer-to-peer loans created in 2015. With these loans, it is by far the market leader in Europe, although Mintos does not provide loans itself. For that, it works with local partners who offer the loans on the platform.

To fund its rapid growth, it already raised over 7.2 million euros in a crowdfunding campaign on Crowdcube in 2020. This money came from more than seven thousand investors, which was a record at the time. Never before have so many investors been involved in a crowdfunding campaign in continental Europe.

The campaign that started this morning is currently only open for ‘Early Access‘-investors, but in the first hour after opening, the counter already stood at more than a thousand investors who together had already easily exceeded the target amount. This means that it is already overfunded as well.

Focus on growth

In 2022, Mintos reached the milestone of 500,000 users, although growth had slowed slightly in recent years due to a focus on regulatory compliance, dealing with issues with some partners who had run into payment problems and phasing out Russian partners. But now there is a renewed focus on growth.

Mintos will soon launch a new asset class for investors.

Besides peer-to-peer loans, users can also invest in bonds on Mintos. Late last year, the company launched a new product: Mintos Core ETF. This is a collection of ETFs tailored to the user. In addition, a soon-to-be launch is planned for a new asset class for investors.

‘Limited amount of shares’

To enable further growth, the platform is now looking for new capital. By its own admission, there is a limited number of shares available to invest in. People who put in more than thirty thousand euros will be invited to a dinner with Mintos’ founders and a tour of its headquarters.

‘Mintos wants to expand across Europe.’

Besides new asset classes, Mintos plans to use the funding for international expansion across Europe. In this way, the company hopes to become the first choice for European long-term investors. The company also plans to invest in automation, such as portfolios based on user investment goals, a mobile app and AI tools.

Update 11 April: Within the first hour after launching, Mintos already reached its target amount, with a thousand investors. At this moment, the platform has raised over 2.5 million euros with over 2,400 investors. It seems like this campaign will beat the record of the last one, in terms of the amount of investors.