Mintos, a European marketplace for debt capital, is launching a securities offering on Crowdcube. Mintos, based in Latvia, previously pursued an online funding round back in 2020 when it topped a goal of €1 million in around 15 minutes, eventually raising €5.3 million within the first 24 hours. According to a statement from Mintos, the securities offering is accepting indications of interest for the offer prior to it going live to the public on April 10, 2024.
During the last funding round on Crowdcube raised equity capital at a pre-money valuation of €68 million. At that time, 6147 investors participated in the securities offering. This forthcoming round will set a pre-money valuation of €120 million.
Today, Mintos reports more than half a million users and €600 million in “assets under administration.” Annual reports are available here. The most recent available consolidated financials indicate that Mintos booked a small profit in 2022.
While Mintos was founded as a peer-to-peer lender it has since received an investment license in Europe under the MiFID process as well as being approved as an e-money institution. In the past couple of years, Mintos has launched loan-backed securities while expanding investor services to include ETFs and bonds. The platform has also expanded into other European markets.
Martins Sulte, CEO and co-founder of Mintos, says the company is addressing a gap in the EU investment landscape meeting demand from both traditional and alternative investment options.
“We firmly believe that our future growth lies in expanding our presence across the continent. With successful launches in Germany, Italy, Spain, France and the Netherlands, we’re committed to targeting additional key markets in the near future, and we want to give our customers the possibility to be a part of this growth journey,” says Sulte.
Crowdcube co-CEO Matt Cooper says they are excited to have the company back on their platform.
While few details are available about how the funds will be used, Mintos says it wants to grow its investor base, expand into new countries, and launch new products for investors.
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