Mintos sees €20m of investments per week in January
Mintos reported that €20m (£17.9m)-worth of investments were made per week in January, with an average interest rate for the month of 12 per cent.
Investors on the European lending marketplace earned €3m during January at an average net return of 0.75 per cent, with €78m invested in total. The 12 per cent average interest rate was slightly down on December’s figure, which the platform attributed to a seasonality effect, as lending companies do not need access to new financing as much in January as they did in December.
“The positive trend of increased investments continued into January, with monthly investments surpassing the €71m mark,” said Peteris Mikelsons, head of partnerships at Mintos, in a blog on the company’s website.
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“The average interest rate for EUR investments slightly decreased to 13.4 per cent at the end of the month (13.6 per cent in December).”
The company’s latest Insight report describes 2022 as “a year of record lows”, saying sanctions against Russia due to the war in Ukraine and retaliatory measures by Russia had a large impact on financial services in 2022.
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“A perfect storm comprising contractionary monetary policy, surging energy prices, and the lingering after-effects of the Covid-19 pandemic echoed throughout the markets, [led] to an overall weaker performance in 2022 than expected,” Mintos said.
Despite the macroeconomic challenges, Mintos chief executive Martins Sulte said the company continued to grow last year.
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“While it is impossible to predict what the future will bring in 2023, existing data at Mintos has been promising so far,” he added. “We are hopeful that while growth may lean towards the conservative side, 2023 will be a year of stability and continuous advancement for our investors.”
