Mintos Review 2021: I share big changes after 6 years of investing
Sharing is Caring:
Investing in P2P loans on the Mintos platform is popular with small investors of the younger and older generations who want to start investing, diversify their investments and earn passive income. The minimum amount to invest is only 10 EUR, so the review of Mintos starts very positively. I have been investing in P2P loans since 2013 and I am happy to share my signs, ideas and experiences.
The original review of the Mintos platform and P2P lending and investing was published at the end of 2017. Since then, I have always tried to update it to bring you added value and up-to-date information. The last major update took place in August 2021, when I share my experience with ending investing on Mintos and other P2P platforms.
However, P2P investments and specifically Mintos brought me not only very nice returns, but also a great experience from the investment world. During that trip, I learned a lot and at the same time appreciated my money. I wish the same to you, every reader.
What is Mintos
Mintos is a P2P platform that connects loan applicants with small investors and thus provides space for safe lending of money without a bank, for investors it is a form of investment with the essence of passive income.
The dynamic Latvian company Mintos funguej since the beginning of 2015 and very quickly has become the most popular and sought-after peer-to-peer platform for investing and lending money in Europe. It is sought after by investors mainly due to the high yields offered, long-term history, transparency and good security, including the setting of guaranteed repurchases of outstanding loans.
What is P2P
Peer-to-peer loans (so-called P2P loans) are loans that are demanded and secured by people, they are so-called loans from people and people. Banks and other financial institutions do not enter here. At the same time, it is a crowdfunding system, ie money for a loan is collected from a large number of people, where everyone invests only a small part and the total amount is gradually deposited. This reduces the risk for investors because a large amount is distributed among a large number of investors.
Mintos plays the role of a marketplace here, which is a kind of intermediary between the loan applicant and the investor (the one who lends money).
In fact, there is another party to P2P loans, the lender, which is the company that receives the money and then provides it to the end borrower.
History of Mintos
Mintos was founded in 2015 by two founders, Martins Sulte and Martins Valters, who negotiated with four other angel investors. Together, they combined the EUR 4.5 million investment with which they launched the company.
In 2020, Mintos launched its own crowdfunding plan, involving more than 6,100 investors, who together invested more than € 6.5 million. This is the most money invested in a crowdfunding campaign.
The Mintos team currently has around 200 employees.
Mintos occupies 45% of the P2P market in continental Europe, has more than 340,000 investors registered on its platform and 28 million loans have been financed. In 2021, Mintos continues to be the best peer-to-peer platform for investors who want to try P2P investing.
Mintos has won a number of awards and is regularly awarded in the AltFi Alternative Finance Winner People’s Choice Award.
How Mintos works as a P2P platform
The basic function of P2P platforms is to connect investors and loan applicants. Mintos does so through a wide range of non-banking companies, each of which specializes in, for example, a slightly different type of loan or operates in a different country.
After joining the system, each investor has an overview of the huge number of requests (loan applications) and can invest any share of at least 10 Euros in each.
There is an inexhaustible number of offers and, like investors, they are growing at a rapid pace. Mintos then divides them into a relatively wide range of categories – loan type (8), country (13), currency (7), non-banking company (26+), thus surpassing other popular platforms such as Lendy, Twino, Zonky , which have such a diversity they can’t offer. You may notice that a large portion of loans are currently for car loans.
Mintos statistics
Mintos attracts new investors primarily to the possibility of high returns. Official statistics and the experience of longer-term users show an average profit of 1% of the amount invested per month, ie 12% per year.
During the coronavirus crisis, there were changes in yields, a number of loans went into arrears and some companies went into insolvency.
Yintos yield
- It used to be on average 12% per year
- I was able to have 17% – 18% per year in the manual settings
- During the coronavirus period, the average return was 1% per year
Here are some interesting statistics and numbers.
