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Mintos is a Latvian company giving individuals the opportunity to be involved in business and consumer credit investments. Founded in 2015, the fintech is already closing in on 500,000 users and plans to continue its rise.
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Mintos: How does it work?
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Mintos works primarily through partnerships with credit companies. Mintos is not in fact the originator of these credits but puts these companies in contact with the individual consumer. After ensuring the reliability of its partners, Mintos becomes the intermediary between the two parties. The Latvian fintech currently has 61 partners in 33 different countries.
From a minimum amount of 50€, anyone can invest on Mintos. The user will have two main choices regarding his investments: the Mintos strategy or the personalized strategy.
In the first case, the fintech offers a predefined strategy for beginner investors. The latter can learn at their own pace while being guided by Mintos for their first steps in the field.
The case of the personalized strategy is intended for more experienced investors, having already carried out actions of this type in the past. The user will have complete freedom over the management of his investments, which he will be able to control manually or in an automated way if he wishes.
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Mintos also has a system of “Notes” available to users. To create a set of Notes, it will be necessary to group several credits (between 6 and 20) with the same properties. Each Set has a secure identification number called ISIN.
By purchasing their “Notes”, users will be able to receive interest when a loan is made via the Notes Set mentioned above. When a borrower pays back a portion of what he or she owes, Mintos’ system will allow Notes owners to be paid according to that repayment.
Finally, the Latvian fintech offers the option to its investors to reinvest their returns on their platform. 75% of investors would continue their investments on Mintos after one year.
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The management of reimbursements of Russian companies during wartime
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Mintos has been, like many other companies, impacted by the conflict between Russia and Ukraine. Having made various partnerships with Russian credit companies, the fintech had to manage these relationships in an extremely complicated context.
The main objective of Mintos is to recover the pending payments from these partners, in order to redistribute them to the clients who invested in these Russian companies. First, Mintos paused the exchange of the Russian ruble on its platform, as it had dropped by 30% at the beginning of the conflict. The fintech then stopped Belarusian credits, concerned about the risks investors may face if they want to invest in Belarusian companies.
Mintos announced in March 2022 that loans from Russia represented 15% of the fintech’s total portfolio, but that did not prevent the remaining 85% from working well. In fact, the situation seems to have settled down since September 2022, with repayments from companies starting to increase.
On September 19, Revo Technologies repaid a first share of RUB 2.6 million. On October 7, 2022, Revo made a second repayment of RUB 1.3 million which was redistributed to Mintos investors.
Finally, the last repayment to date is from Mikro Kapital in the amount of RUB 414,000. Mikro took care of the conversion into euros at a rate of 1 RUB = 0.015€.
So Mintos seems to be doing well despite the recent difficulties. With 8.4 billion euros invested on the platform since 2015, there is no doubt that Mintos’ propositions are of interest to both budding and experienced investors.
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