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Mintos celebrates two new milestones: EUR 1.5 billion invested in loans on the marketplace, and 100,000 registered investors!
It took Mintos just shy of four years to get to the milestone of EUR 1 billion invested in loans on the Mintos marketplace. After that, it took Mintos only four months to arrive at the next milestone – EUR 1.5 billion invested in loans.
At the same time, the company has reached another big achievement of 100,000 registered investors on the Mintos marketplace. With the retention of active users at more than 90% and a proactive attitude toward investors’ feedback, which results in new innovations, Mintos has gained a leading position at the forefront of the European market of peer-to-peer lending.
2018 was a year for growth at Mintos, and this growth allowed us to expand our operations. Our expansion, consequently, also contributed to our growth. Looking forward, Mintos will continue on this path and increase the marketplace in terms of investors, new features, geographical expansion and valuable employees.
Graphic 1: Loans funded on Mintos
Graphic 2: Loans funded on Mintos in 2018
The beginning – who and how much?
As it usually goes, the first investor registered on Mintos was the company’s product manager, with his trial investment. Today, this investment of a “magnificent” EUR 18 is remaining in the flourishing outstanding portfolio of funded loans on Mintos.
The first investor registered on Mintos who was not a member of the Mintos team or the extended network was from Latvia. Let’s call them investor B. Investor B, who is represented with a symbolic framed one-dollar bill on the wall of Mintos made the first investment by investing EUR 200. It took between two and three days for that money to be transferred from Investor B’s bank account to their Mintos account, with only one loan originator providing loans issued in one country (Latvia) to invest in. This investor is still active on Mintos. During the following four years, the Mintos marketplace has introduced many new features that have made transactions faster and more convenient. Also, the investment and diversification opportunities have significantly expanded to 60 loan originators from 28 different countries and five continents.
In the period of four years, around 99,999 other investors have joined Investor B. At first, those were mostly investors from Latvia. However, at the beginning of 2019, Latvian investors represent 6% of the total registered investors on Mintos, now a global marketplace for investors from 70 countries of the world.
Graphic 3: New investors on Mintos
Graphic 4: New investors on Mintos in 2018
Growth in sync
Martins Sulte, CEO and Co-Founder of Mintos says that these achievements are the result of the company’s growth-oriented approach: “We are happy to have A players on our team, people who are motivated to deliver great work and a better product. With this goal-oriented attitude, Mintos is expanding fast. We have doubled our great team over the course of 2018 to 60 people and we will most likely double our headcount again in 2019,” says Sulte.
Starting with its headquarters in Latvia, Mintos has extended its presence to Poland and Mexico. Next, the company plans on opening an office in Berlin, Germany, with the hiring already in process.
“Besides affection for innovation, we also have profound gratitude for our investors’ feedback. Together, this forms one of Mintos’ guiding principles: innovate to make financial services better with the help of technology”, said Sulte, adding that at Mintos the teams are always on the lookout for better solutions, eager to build a product that investors love.
Recently investors have seen Mintos introduce much-anticipated features like investment strategies, Auto Invest for the secondary market, and two-factor authentication. These features are enhancing investors’ experience while at the same time making investing more simple, with additional security upgrades to protect users’ data.
Where to next?
With more than 55,000 investors joining in 2018 and investing their trust and funds in and on the marketplace, Mintos has grown into a leader in the European peer-to-peer lending market. With investors, team members and loan originators from all over the world, Mintos will continue to provide better financial services with the help of technology. In the upcoming period, the company will also provide investors with IBAN (bank) account numbers and debit cards, alongside the Mintos mobile app. By merging technology with unexplored market opportunities, the Mintos team will continue doing their utmost to provide the best possible experience for Mintos investors.
For the years to come, growth seems like the chosen path for Mintos to remain on, and the global market seems like the right space to achieve this.