Mintos reports that total investments “saw €88 million worth of Notes funded, and interest earned by investors in June was €3.9 million.”
The average interest rate for June on the Mintos platform “stood at 12.8%, translating to an annualized average net return of 9.8% (YTD 4.7%).”
The cumulative interest earned by investors on Mintos has now “reached €238 million and the total assets under administration are now €583 million.”
Head of Partnerships, Peteris Mikelsons, stated:
“During June, investments in Notes amounted to €88.7 million, which, when looking at the daily investment amount, remained relatively flat compared to the previous month. Similar to the previous month, in June, Notes available for investments in EUR increased from €84 million at the end of May to €88 million at the end of June. However, that did not have any impact on the interest rate movement in the market, as the interest rate for investments in EUR-denominated Notes remained essentially flat at 12.7% (12.8% in May).”
As reported by Mintos last month in June 2023, Notes available for investments increased to €84 million (€72 million in April) at the end of May.
This did not have “an impact on interest rate movement in the market, as interest rate in EUR denominated Notes remained flat at 12.8%.”
In May, €92.7 million was invested in Notes.
Head of Partnerships, Peteris Mikelsons, said:
“This is a decrease as compared to April, as restructured overdue payments were largely resolved. Currently, May has seen the second-best month in 2023, in terms of investments.”
May saw an annualized average net return of 9.4% (YTD 3.8%).
The all-time interest earned by investors on Mintos had “reached €230 million, and the total assets under administration are now €580 million.”
Last month, Mintos also shared:
“We’re also investigating how to use AI to build more personalized investment portfolios for every investor based on their characteristics, needs, and investment goals. Such a capability would significantly improve our customers’ investing experience and financial outcomes. While AI has had a relatively minimal impact on Mintos’ operations to date, we foresee a significant positive impact from AI implementation over the coming years. This evolution, coupled with the effective integration of AI, will prove pivotal for Mintos as we continue to strive for a competitive edge in the ever-evolving fintech landscape.”