Mintos is working towards becoming a multi-asset investment platform
Mintos has welcomed the new harmonised EU crowdfunding rules as it works towards becoming a multi-asset investment platform.
The platform said that the European alternative finance sector has levelled up and reached an important regulatory milestone.
Mintos said last month lenders earned €3.9m (£3.3m) in investor returns at an average rate of 9.73 per cent and the average net return in the year to date is 9.87 per cent.
The European lending marketplace said its financial instruments Notes, which it launched in September, will offer investors the same level of protection as any other security offered by investment firms of mainstream investments and that they will bring further investment opportunities from bigger lending companies.
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“For Mintos, becoming regulated is like maturing – as you do when you finish university, get a degree, and start working,” said Martins Valters, co-founder, chief operating officer and chief financial officer of Mintos.
“Although it doesn’t change our nature, there are additional layers of requirements. As an investment firm, we comply with strict rules around business continuity and meeting our obligations, providing investors with more confidence.”
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“Until this year, the sector lacked any kind of regulatory framework, especially one that could be scaled across borders,” said Inese Lazdovska, head of legal at Mintos.
“For some countries like Latvia, this was the first time a regulatory framework for crowdfunding was introduced.
“Although there are criticisms around its implementation in some member states, having a regulatory framework that allows crowdfunding platforms to scale across borders is a breakthrough.”