Mintos Insight March: A market overview of alternative lending in Southeast Europe

In this month’s Mintos Insight, we take a look at how alternative lending has been gaining momentum. We focus on Southeast Europe (SEE), which in recent years has seen the emergence of non-bank financial institutions offering accessible and convenient financial services.

Uncovering the region’s hidden potential

We delve into the economic statistics and financial overview of Albania, Bulgaria, Moldova, and North Macedonia, and examine the alternative lending ecosystem in each of these countries.

The four countries that we have chosen to highlight have undergone significant political and economic changes in the past decades, transitioning from centrally-planned economies to market-oriented ones. Despite these changes, these countries face several challenges in terms of their economic development, including low GDP and high inflation rates.

We shed light on the current state and future prospects of alternative lending in this region and provide valuable insights for investors on Mintos.

North Macedonia

Mintos Activity: February 2023

While total investments slightly dipped overall month-on-month, January had three extra days compared to February (31 calendar days vs 28). In January, the average daily investment was €2.52 million, whereas in February it was €2.56 million, indicating a slight increase in the daily average.

As a result of this increase in demand for Notes, there has been a slight decrease in the interest rate. In January, the interest rate was at 13.5% whereas in February, it decreased slightly to 13.3%.

“This trend may continue going forward, and we may see a further decrease in the interest rate due to an increase in investments coming in from new investors. However, any decrease in the interest rate is unlikely to be significant and will likely fluctuate around the current rate at 13%.”

Peteris Mikelsons, Head of Partnerships.

If you’d like to read any previous Mintos Insight publications, you can find them in our Mintos Insight library. Or, if you would like to learn more about investing, we recommend exploring the Mintos Investor Academy

Our new Overdue page has launched

We’ve launched a new Overdue page to improve transparency around overdue payments. This page shows you a breakdown of your payments that are in recovery and the recovered amounts. It replaces the current “In Recovery” page on your Mintos account and can be accessed the same way.

From the Overdue page, you have access to background information, an explanation of the new, more detailed case statuses, as well as the reports you’re used to.

If you have any questions or feedback, join the conversation in our Community.


This is a marketing communication and in no way should be viewed as investment research, advice, or recommendation to invest. There is no guarantee to get back the invested amount. Past performance of financial instruments does not guarantee future returns. Investing in financial instruments involves risk; before investing, consider your knowledge, experience, financial situation, and investment objectives.


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