By Aisling Finn on Tuesday 3 November 2020
The campaign looks set to go live on Crowdcube towards the end of this month.
The round, which is set to go live in the second half of November, will form part of a larger fundraising effort with cash being raised from several VC firms for a yet to be disclosed figure.
Martins Sulte, CEO and co-founder of Mintos, said: “Demand for alternative investments has grown since the interest rates on deposits have been persistently low and equity markets have become crowded—leaving retail investors with very few good options.”
“In the past, when retail investors did look at alternative investments, they often found that these came with high minimum investments and high fees that kept them out of the mass market. Current demand is for modern solutions that are both accessible and not correlated with traditional assets.”
Mintos says it chose to launch a crowdfunding campaign to give its users the chance to own a limited number of shares in the fintech.
So far, Mintos has had a stellar 2020, currently holding a 45 per cent market share of loan investments in Europe, with its 340,000 users having invested over €6.6bn (£5.9bn) to date.
Since launching in 2015, Mintos has raised €7m (£6.3m) from angel investors and has funded the rest of its growth through its revenue.
CEO Sulte added: “Our investor community has played an important role in our success so far—we appreciate it very much, as it constantly drives us forward and allows us to come up with innovative new solutions.”
The lending platform is also set to become a fully regulated marketplace, gaining both an Investment Firm and E-Money Institution licence.