Mintos, an online marketplace for peer to peer loans for retail investors, has partnered with European payments Fintech Trustly. Founded in 2008, Trustly Group AB is a Swedish Fintech firm.
Mintos will now allow investors to transfer funds in real time from banks in 29 different European countries in contrast to traditional transfers. Mintos expects the collaboration to simplify and speed up the investing process. Mintos expects to top 100,000 investors on its marketplace by the end of 2018.
Mintos reports that during a test period in the Baltics, 80% of newly registered investors chose to transfer their funds with Trustly simply due to the speed and convenience.
“To offer fast and highly secure transfers it is important to meet our investors demand for a seamless, fast and simple user experience. We are very pleased to be able to grow our offer with both an in-demand payment method and the unrivalled European coverage that Trustly provides.”
Johan Nord, CCO at Trustly, added that they are delighted to work with Mintos noting they have a common interest in making online payments as efficient as possible.
“This partnership is an excellent example of how two financial technology businesses can partner to create value for investors by streamlining the transaction process, while also delivering the highest level of transaction security.”