Mintos secures €2m in debt funding from FlyCap
Alternative investment platform Mintos has negotiated a deal with Latvian growth capital fund FlyCap for €2m (£1.7m).
The funds will fuel Mintos’ growth initiatives, including customer acquisition efforts across the European Union (EU).
The latest fundraising effort follows a crowdfunding campaign with CrowdCube, which saw Mintos raise €3.1m from more than 3300 investors in more than 55 countries.
The campaign was the second-largest campaign in the EU up to that point in 2024.
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“We are pleased to secure this funding from FlyCap and appreciate their confidence in our vision,” said Mintos chief executive and co-founder Martins Sulte. “This raised capital, along with the proceeds from our successful crowdfunding efforts, will enable us to propel our growth, bring added value to existing users, and reach a wider audience of future investors.”
FlyCap partner Janis Skutelis added: “We are excited to support Mintos as they continue to grow and innovate. Their impressive track record and strategic vision position them strongly for the future, and we are confident that this funding will help drive their continued success and expansion.
“We are impressed by the team’s ability to elevate the company to a multi-product platform, providing investors with a comprehensive suite of investment instruments and alternatives. By creating a one-stop solution, investors will no longer need to diversify their assets across multiple platforms, streamlining portfolio management and enhancing investment efficiency.”
Mintos achieved a 30 per cent increase in revenue in 2023, growing from €8.8m in 2022 to €11.4m. Additionally, the platform reported a net profit of more than €650,000 for the year. By year-end 2023, assets under administration surpassed €600m.
In recent months, Mintos has expanded across all European markets, including launches in Portugal and the Czech Republic.
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