European Investment Platform Mintos Releases Consolidated Annual Report for FY ’22

The team at Mintos is pleased to share the Mintos Consolidated annual report for the year 2022.

The report is designed “to provide investors on Mintos and other stakeholders with insights into our performance and developments throughout the year.”

The report “includes detailed financial statements, key events, and strategic actions taken in 2022.”

Challenges and milestones

Despite facing formidable challenges in 2022, “such as the war in Ukraine and the intricate transition to a regulated setup under MiFID II, they celebrated remarkable milestones.”

Mintos reveals that they grew their user base “to 500,000 registered users, expanded our regulated services to France, and made significant strides in recovering overdue amounts from suspended lending companies.”

One of their key achievements was “launching Notes, loan-backed securities that provide investors with a regulated environment and increased protection.”

This successful transition, “completed in June 2022, was the result of the concerted efforts of our entire team.”

Additionally, they claim to have “brought about positive changes in tax withholding for investments in Notes.”

Mintos further noted that they “collaborated with Latvian lawmakers and financial institutions over two years to change laws that now reduce withholding tax requirements for the majority of our investors from 20% to 5%.”

Financial performance and growth

In 2022, they reportedly “saw a modest decrease in our revenue by 4.4%.”

They achieved “a total comprehensive income of €899,000, a significant improvement over 2021’s loss of €1,680 thousand.”

This comeback was “fueled by robust net commission income and other income streams we carefully cultivated.”

At the end of 2022, they claim to have “held €576 million in assets under administration.”

In the year, investors have “invested more than €740 million using automated strategies, accounting for 82.6% of all investments.”

They also “made significant progress in recovering funds from lending companies suspended in previous years, recovering €6.4 million in 2022.”

Expanding investment opportunities

As noted in the update:

“We’re excited to share our ambitious plans for growth and expansion with you., The coming year will see the inclusion of traditional assets like ETFs, as we aspire to transform Mintos into a multi-asset investment platform. Our goal? To serve as a one-stop solution for passive, long-term investing for investors across Europe.”

The firm concluded:

“The year 2022 was both challenging and rewarding for Mintos. We overcame obstacles, achieved profitability, and set the stage for future development. Our commitment to our investors remains wavering— We remain dedicated to providing our investors with the best investment opportunities and services, and we look forward to a bright future together.”

You can find the AS Mintos Consolidated annual report for 2022 and previous years here.


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