Mintos Reports Total Investments Increase of €90.8M Worth of Notes Funded, Interest Earned by Investors in July Reached €4.1M

The month of July has shown “promising” growth on Mintos.

Total investments saw “a significant increase of €90.8 million worth of Notes funded, and interest earned by investors in July climbed to €4.1 million.”

The average interest rate for July “stood at 12.7%, translating to an annualized average net return of 10.1% (YTD 5.8%).” The cumulative interest earned by investors on Mintos “has now reached €242.2 million, and the total assets under administration are now €588.3.”

Senior Partnership Executive Lukas Alijosius adds:

“Investments in July exceeded €90 million thanks to an extra day in the month, as the daily investment amount remained virtually unchanged since the largest part of the overdue payments were resolved back in spring.”

The availability of Notes for investment in EUR has also remained flat at €88 million as compared to the end of June.

“Sustained Notes supply by lending companies, accompanied by consistent investor demand, maintained the average interest rate for investments in EUR-denominated Notes at 12.7%.”

In other recent updates shared by Mintos, it was noted that during the first six months of 2023, ESTO AS experienced substantial growth “across multiple key performance indicators.”

The company has provided the following operational and financial information.

ESTO AS reportedly “generated 64% of the total revenue of 2022 and saw an 8.59% increase in revenue compared to the first quarter of 2023. In addition, the company’s net income continues to grow and is now at €2.6M.”

During the first half of 2023, the company “generated 71% of last year’s profits.”

The gross merchandise value “increased by 21% and the growth from Q1 to Q2 was 5.73%. ESTO’s assets grew from €45M to €49M in Q1 and Q2 2023, recording a 7.8% increase compared to 2022.”

During the first half of 2023, ESTO increased “the number of issued loans to clients by 17%. Furthermore, the company recently increased interest rates on Mintos to 11%.”

The company aims “to attract more investors seeking lucrative opportunities.”

Mikk Metsa, CEO of ESTO, said:

“I am happy to report that the business we set up in a small coffee shop in Tallinn, Estonia, has now grown to be a substantial and stable player in the Baltics commerce, payments, and credit market within just 6 years. Our business stands on strong feet and continuously benefits from the years of hard work that was put into building the merchant network in all Baltic countries. The first two quarters of the year usually result in smaller GMV in the market due to the cyclical nature of our business. Despite that, we were still able to show a good profitable growth rate, which is a testament that we are able to continuously grow in a profitable manner. This is the reason why we are welcoming Mintos investors to join with ESTO´s success story whilst offering the best risk-to-reward yields on the Mintos platform.”

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