P2P lending platform Mintos Clocks Over €3 Billion in Loans Given

August 15, 2019 | FinTech, News

Mintos provides a large cross-section of loans through 65 loan originators.

P2P lending platform Mintos has increased the pace of its lending activities in recent months. The firm registered more than €1 billion in loans advanced since April of this year.

The firm classifies the bulk of these loans in the consumer category. This category includes loans for agriculture, business, and invoice financing are also available.

Huge market and loan volumes are driving growth

According to CEO and Co-Founder Martins Sulte, Mintos has become a lending marketplace of choice for loan investors because of its “sheer volume of loans and diversification.”

“The market opportunity is huge, and we will continue investing in people and product, and have a sharp focus on growth,” he says confidently.

P2P lending platform for people who want to invest in loans

Over 170,000 investors have loaned funds through Mintos. According to the website, the average rate of return is 12.25%, while the average default rate is 0.1%. An investor can lend amounts as low as €10.

Prospective investors should, however, note the following disclaimer on the Mintos website:

“Neither Mintos nor the loan originator is responsible for a borrower failing to service the loan, including for late payments. In the case that a borrower is unable to repay the loan, investors may lose some or all of their invested capital.”

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