Mintos reports “promising growth” in October
Mintos has reported “promising growth” in October, with average interest rates remaining stable at around 12.5 per cent.
The European lending marketplace said that total investments saw a “significant increase” to €97m (£84.14m), while investors earned €4.2m in interest.
Peteris Mikelsons, head of partnerships at the company, said that this upward trend was primarily driven by stable investments.
The cumulative interest earned by investors on Mintos has now reached €254.8m, and the total assets under administration are now €606.7m.
Read more: Mintos unveils fractional bonds product
“The availability of Notes for investment in EUR has risen to €81m, marking a slight decrease from the previous month’s, but still reflecting a stable investment environment,” Mikelsons added.
The platform also reported that as of 1 October 2023, a total of €12m in war-affected loans had been repaid by Russian lending companies.
Read more: Mintos hails September of “positive growth”
On 17 October, high-yield fractional bonds went live on Mintos for the first time, effectively expanding the platform’s asset class.
“Historically, bonds, especially high-yield bonds, have been out of reach for retail investors without substantial capital,” added Mikelsons.
“On Mintos, investors can invest in high-yield bonds with as little as €50, with no fees for investing.”
Read more: Mintos adds new notes to its marketplace
