In March, the total investments on Mintos saw “a surge of €90.7 million worth of Notes funded, with interest earned by investors amounting to €4.3 million.”
This was largely “driven by a decrease in pending payments.”
The average interest rate for March “was 12.6%, resulting in an average net return of 2.83% for the year-to-date.” The all-time interest “earned by investors on Mintos now stands at €225 million, with the total invested amounting to €8.7 billion.”
Peteris Mikelsons, Head of Partnerships at Mintos, said:
“While total investments increased, Notes available for investments decreased. The average interest rate also slightly dipped from 13.3% in February to 13.1% for EUR investments. Looking ahead, it is expected that the supply and demand for Notes on Mintos will remain stable, resulting in interest rates fluctuating at around 13%.”
If you’d like to read any previous Mintos Insight publications, you may acccess them in the Mintos Insight library. Or, if you would like to learn more about investing, the firm recommends exploring the Mintos Investor Academy.
Mintos also mentioned that they are back with their refer-a-friend program. For a limited time only, you are able to invite your friends to join the platform. And when they invest €1000 or more before 31 May 2023, you both will be able to earn a €50 bonus. Your friend will also receive “a 1% bonus on the average investment in the first 90 days.”
Changes to reporting of pending payments
Payments that are “in the process of being transferred by the lending company within the regular settlement period or up to 7 days past due are reported on the Pending payments page.”
These short-term delays can reasonably “happen in the normal business cycle.”
Payments from lending companies “that are more than 7 days past due can be found on the Overdue page.”
In the Insight report shared last month, Mintos took a look at how alternative lending has been gaining momentum.
They focused on Southeast Europe (SEE), which in recent years has “seen the emergence of non-bank financial institutions offering accessible and convenient financial services.”
Mintos delved into the economic statistics and financial overview of Albania, Bulgaria, Moldova, and North Macedonia, and “examine the alternative lending ecosystem in each of these countries.”