Mintos, a distinguished player in the FinTech sector, has successfully secured a €2m debt funding round.
The Latvian-based multi-asset investment platform is recognized for offering a mix of alternative and traditional investment options, catering to a diverse investor base.
The investment was provided by the Latvian growth capital fund, FlyCap. This new capital infusion is poised to accelerate Mintos’ growth initiatives significantly, focusing on customer acquisition across the European Union and enhancing the platform’s reach and impact.
Mintos operates as a comprehensive investment hub, boasting a unique offering that combines alternative and traditional investment options. This approach allows investors to manage a diversified portfolio under a single platform, simplifying asset allocation and investment management processes.
The funds from this latest round will be strategically utilized to propel the platform’s growth, increase its user base, and extend its services to a broader audience of potential investors. Mintos aims to streamline investment processes and increase efficiency, thereby providing added value to its existing and future users.
This funding round follows a notable year of financial achievements for Mintos, which reported a 30% increase in revenue from €8.8m in 2022 to €11.4m in 2023. The platform also recorded a net profit of over €650,000 last year and saw its assets under administration soar past €600m, reflecting growing trust and a solid market presence, particularly in key regions like Germany and Spain.
Mintos has recently achieved full expansion across all European markets, marking official launches in Portugal and the Czech Republic. This expansion aligns with the company’s commitment to increasing its footprint and enhancing its impact across Europe.
“Mintos CEO and co-founder Martins Sulte said, “We are pleased to secure this funding from FlyCap and appreciate their confidence in our vision. This raised capital, along with the proceeds from our successful crowdfunding efforts, will enable us to propel our growth, bring added value to existing users, and reach a wider audience of future investors.”
Additionally, the platform’s expansion efforts come after a successful crowdfunding campaign where Mintos raised €3.1m from over 3,300 investors from more than 55 countries through CrowdCube, underlining robust investor confidence and backing.
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