Mintos, a Fintech that recently closed a securities offering on Crowcube, is reporting that it has set a new record when it comes to an offering for a continental European funding round. The offering has raised €7.2 million in total backed by over 7000 investors said to be the largest amount ever in Europe. The capital was raised at a pre-money valuation of €68 million.
In a release, Mintos CEO and co-founder Martins Sulte issued the following statement:
“The results of the campaign are beyond all our expectations. While we did anticipate our community to engage actively in the campaign, little did we know that we would start breaking records right out of the gate. We would like to thank everyone who participated in the campaign. We are eager to continue working on our roadmap and start a new chapter with our new shareholders.”
The offering was popular from the beginning. In fact, Mintos raised over €1 million in only 15 minutes during the community portion of the offering. In 2.5 hours, Mintos topped €3 million and eventually broke the record of the largest number of investors in a European (excluding the UK) campaign.
Luke Lang, CMO and co-founder of Crowdcube, commented:
“Mintos has joined some of the world’s leading fintechs in using Crowdube to cement and enhance their relationship with their customers. This record-breaking raise shows how harnessing the power of community can be turned into a strategic business milestone and making consumers owners can be integral to how these companies are run.”
Overall, the company reported that investors from more than 90 countries took part in the campaign, the majority coming from Germany, Spain, and the Czech Republic.
Although Mintos does not operate in the UK market, a significant number of investors from the UK also participated in the campaign.
Mintos expects to raise venture funding at some point in 2021.
Prior to the round on Crowdcube, Mintos had raised around €7 million from angel investors.
Mintos is a marketplace that aggregates debt securities from around Europe. The company says that since launching in 2015 it has “almost single-handedly built up the market of investing in loans in Europe to €6.6 billion, holding about 45% of the market.” Mintos, headquartered in Latvia, expects to secure Investment Firm and EMI licenses by early 2021.
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