Alternative investment app Mintos has smashed the target for its crowdfunding campaign, raising more than seven-times the original goal.
The FinTech, which raised the capital on Crowdcube, bagged €7.1m at a pre-money valuation of €68m. Mintos originally hoped to raise just €1m when it launched the crowdfunding.
A total of 9.56% of Mintos’ equity was offered during the sale, with shares priced at €6.12 apiece.
The campaign page claims there were 7,027 investors to contribute to the fundraise.
With the close of the round, the company is also looking to secure Investment Firm and EMI licenses by early 2021. This will help it to operate across more European countries on a passporting basis.
It hopes to extend its investment offerings to include loans with lower risk and return levels, and provide new investment products such as ETFs. Mintos also plans to launch financial services, including a Mintos IBAN account and debit card.
Mintos enables retail investors to search through a marketplace of small business loans. The FinTech claims to have 340,000 investors on the platform, and has helped fund 28 million loans.
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