P2P lending marketplace Mintos crossed 50 million Euro in loans to both private individuals, as well as small and medium sized businesses after 18 months of operations. Mintos marketplace arranges loans from 14 non-bank lenders, which have joined the marketplace from the Czech Republic, Estonia, Latvia, Lithuania, and Poland.
According to funded loan volume, to date most money has flowed into loans in Latvia’s – 33%, Lithuania’s – 31% and Estonia’s – 23%.
‘All around the world, peer-to-peer lending concept is slowly replacing bank services from which the commercial banking sector is retreating. Today, banks no longer conduct the main mission of the financial system â€” connecting those postponing consumption with those who are consuming today, i.e. connecting savers and borrowers. Deposit rates are close to zero or even negative, while access to credit is limited. This increases the non-bank financial services market, which offers consumers easy, convenient and affordable services,’ emphasizes Mintos CEO and co-founder Martins Sulte, predicting that by year end, investors through Mintos will have financed EUR 100 million in loans.
More than 10,000 investors finance loans on the Mintos marketplace. The average invested amount of each investor on the platform is approximately 4,000 EUR.
Mintos is used by investors from 49 countries across the globe, including Japan, Australia, Singapore, Sweden, Finland, and others; the most active investors are from Germany, Estonia, Latvia, the Netherlands, and the United Kingdom.
Peer-to-peer lending marketplace Mintos is a financial technology company that began operations in January 2015 in Riga.