Mintos to add car rental investments
Mintos will soon allow its users to invest in car rental products.
The Latvia-based peer-to-peer lending platform will offer car rental investments as part of its Notes offering, and said that the notes for car rentals will “generally be similar to Notes for loans.”
“The main difference is that the linked assets will be rental agreements between renters and the rental company, and investors will earn returns from the cash flows of these rental agreements,” said a Mintos spokesperson.
“Notes for car rentals will use the indirect structure, and there will be a buyback obligation from the rental company.”
The investments will be offered by Planet42, which has been on the Mintos platform since February 2022. However, Mintos said that more car rental companies will follow.
Mintos has teased a number of new product launches to come, following a series of wins for the platform.
Earlier this month, the Latvian parliament announced a reduction in the rate of withholding tax, which means that Mintos investors will see their tax liability reduced from 20 per cent to five per cent of the interest earned on their P2P investments.
The platform has described Latvia as “a fast-growing tech hub,” with many opportunities for non-bank lenders and other fintechs.
Read more: Average Mintos returns increased to 14.2pc in October