Peer to peer lending marketplace Mintos has surpassed £7 million on Crowdcube on the final day of the securities offering. The Mintos security offering should be one of the largest offerings on Crowdcube for 2020.
Mintos is raising equity capital at a pre-money valuation of £68 million. Currently, 6816 individuals have participated in the securities offering that set an initial hurdle of just £1 million.
Mintos is an interesting platform as it aggregates p2p loans from regional platforms and then consolidates the debt offerings for investors to select specific loans.
Mintos reports an investor base of approximately 340,000, growing at over 125% per year for 5 years. It claims a 45% market share in continental Europe with €5.7 billion in loans funded. While Mintos growth has been strong during the past few years, it has been hit by the COVID health crisis as some of its partner lenders have struggled in the challenging economic.
It is important to note that Mintos, headquartered in Latvia, expects to secure Investment Firm and EMI licenses by early 2021. By receiving this regulatory approval, Mintos will be able to operate across the EU providing a larger portfolio of financial services and perhaps operate more like a digital bank.
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