Riga-based Mintos, a global marketplace for investments in loans, has reached the milestone of €2 billion in total loans financed through its platform. Founded in 2014, Mintos provides investors with an easy and transparent way to invest in loans, with a mission to facilitate free and efficient movement of capital. The peer-to-peer lending marketplace raised €5 million last November to provide users with personal IBAN accounts and debit cards.
“Hitting the €2 billion milestone that quickly shows that we are on the right path of making financial services better with the help of technology,” said Mintos CEO and co-founder Martins Sulte. “The average net return of 12% that investors have earned so far, together with the easy to use and transparent user experience, has made Mintos the preferred marketplace for investments in loans across the world.”
Reaching the €2 billion milestone of loans funded on the Mintos marketplace has inspired the Mintos team to give back to society, by establishing the Mintos Impact Fund and creating its first environmental sustainability initiative. Its first project, called “TheFuture%”, will be to clean up and preserve the Baltic Sea, together with Pasaules Dabas Fonds (a partner of World Wildlife Fund) and WWF Deutschland. Along with investors, Mintos will crowdfund €100k to donate to the project.
“We believe it’s about time that startups also step up and do something for the environment,” said Sulte. “Mintos has a strong base of cognisant and critically thinking customers – investors who see the need to do their part in preserving our world – that’s what lets us join together in this environmental sustainability initiative and do good together. Our first project – supporting the Baltic Sea’s marine ecosystem – is also symbolic of where the majority of our investors’, as well as our company’s roots are from.”
“We are pleased to see that the interest in environmental protection grows within the Baltic region,” added Elza Ozolina, the Baltic Sea and Freshwater Programme Manager at Pasaules Dabas Fonds. “Cooperation with Mintos indicates that the new generation of young, fast-growing tech entrepreneurs are entering the arena with a clear sustainable development vision both locally and internationally. We are happy to be the partners of the Mintos Impact Fund debut project.”