Based in Riga, Mintos is waving the Latvian startup flag on the global stage, turning heads towards the potential of this Baltic country. We have had our eye on their fast growth for a while now, also including them in our list of 10 promising Latvia-based startups to watch in 2020. As a true fintech, its mission is to make investing accessible, easy and transparent.
Now, the fintech, which currently has offices in Riga, Berlin, Warsaw and Vilnius, is launching its first mobile app for Android and iOS, based on the possibilities of the smartphone as an access tool.
Founded in 2015, Mintos allows users to connect with loans from international and Mintos-authenticated alternative lending companies. Today, via its platform, more than 250,000 investors have funded in total almost €5 billion worth of loans and earned more than €80 million in interest.
Now, having gone through extensive community consultations with over 3500 mobile app beta version testers (made up of a group of investors on Mintos), the start has developed an app focused on enhancing existing features of Mintos service, with added capabilities that would increase investor accessibility, engagement and security.
Mintos has decided to build the app gradually, launching versions in multiple releases, with this first version offering easy and quick access to investors’ accounts and investment monitoring in just a few swipes. Upcoming mobile app releases will offer additional functionalities adjusted for smartphones, including the complete investing experience which is already accessible on the Mintos marketplace. Mintos is also working to provide investors’ with essential insights to better inform their decisions via the app.
Marcis Gogis, Mintos Head of Product who led the development of the mobile app, says: “We were pleasantly surprised at how active Mintos investors were in their willingness to participate in testing the app and providing extensive feedback. The strong growth of Mintos is based on the active involvement of the Mintos community of loyal and trusted investors in the development of our products and services.”
Martins Sulte, CEO and Co-Founder of Mintos shared his excitement about the new era of Mintos marketplace accessibility: “At present day, Mintos serves more than 250,000 investors from 91 countries worldwide, and these numbers are increasing rapidly. The primary purpose of the Mintos mobile application is to provide investors with faster and easier access to their accounts. In the future, we believe our mobile application might be the primary access for using our services.”
Martins Sulte adds that while expanding internationally, it is important to accommodate users in those countries where mobile app usage is more common than access via computer or laptop. “Mobile app also gives users the possibility for more comfortable and secure access to their accounts, with a PIN and biometry login,” adds Sulte.
The launch of the mobile app lays the groundwork for other anticipated Mintos services that are currently in the works, including an IBAN account number and debit cards.