Mintos ends 2023 on a high as supply fails to meet “surging demand”
Mintos ended 2023 with its second-strongest month of inflows into its notes, although the supply of new loans failed to meet “surging demand”.
The European investment platform said that investments in its regulated notes reached €113.7m (£97.3m) in December, its second-best month in 2023 after November’s peak of €135.2m.
Peteris Mikelsons, head of partnerships at Mintos, said that the supply-demand imbalance resulted in a substantial decrease in available notes for euro-denominated investments, which ended the month at €53m.
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This in turn had a direct impact on interest rates, which settled at 11.5 per cent for euro-denominated investments in December.”
Mintos has expanded its offering in recent months from its core business of connecting investors with loan originators worldwide.
The European lending marketplace unveiled its fractional bond product in October last year, enabling investors to add corporate bonds to their portfolios.
Mikelsons revealed that its fractional bonds “gained significant traction” in December, with an additional €2.5m invested during the month.
Mintos also launched personalised exchange traded funds (ETFs) last month. The firm said that €1.9m has been invested into the product since its inception.
“The first iteration of Mintos Core ETF was unveiled just ahead of the festive season,” said Ieva Langenfelde, senior product owner. “We’re actively engaging with our users to gather valuable feedback, which will be instrumental in shaping and prioritizing enhancements for future versions.”
Additionally, Mintos announced that it has revived its refer-a-friend incentive programme. It encouraged its investors to invest their friends to join Mintos. When they invest €1,000 or more before 31 March, both parties will earn a €50 bonus. The friend will also receive a one per cent bonus on the average investment in the first 90 days.