EU-leading alternative investment platform Mintos has broken records by raising a record €5.3 million on Crowdcube in just 24 hours, after reaching its initial target of €1 million in just 15 minutes.
The fintech firm – described as a “global online marketplace for investing in loans” – attracted over 4,600 investors in its first crowdfunding campaign to date.
Mintos also smashed another record by hitting €3 million in just over 2 hours, cementing the firm as the largest European company to raise on Crowdcube in terms of both funds and number of investors.
Already the leading alternative investment platform in continental Europe, Mintos currently boasts 340,000 investors and 28 million loans funded. Its investor base has been consistently growing at 125% per year for the past 5 years.
Up until this week, Mintos had managed to raise around €7 million from angel investors and had funded most of its own growth via its revenue. The company was launched in 2015 and “almost single-handedly built up the market of investing in loans in Europe” to €6.6 billion – with a 45% market share.
Commenting on the firm’s impressive news, Mintos CEO and co-founder Martins Suite stated:
“We are thrilled to have such a response from our community. This result is a huge endorsement of our vision and it goes to show how strong the relationship with our community is. We are looking forward to having our newly joined shareholders aboard and continuing our growth plans.
“However, this is just the beginning as today we are opening the campaign to the public and continuing to crowdfund. After such validation by our own community, we are very excited to see what the next stage of crowdfunding has in store for us”.
Mintos has stated its intentions to secure Investment Firm and EMI licenses by early 2021, with the hope of doing more business across Europe on a passporting basis to open up the larger markets.
“With additional funding, we plan to continue scaling up our business by focusing on customer acquisition and leveraging our customer base by offering new products”.
“We want to broaden our investment offerings by including loans with lower risk and return levels, and to provide new investment products (such as ETFs) and financial services (like Mintos IBAN account and debit card) to our customers”.