Mintos lending doubles since April to hit €4bn milestone

EUROPEAN peer-to-peer lending marketplace Mintos has passed the €4bn (£3.3bn) lending milestone.

The platform lets individuals and institutions invest in loans originated by a variety of alternative lending companies from around the world.

Its loanbook has been growing fast, having reached €2bn in April and €3bn in August. Launched in 2015, Mintos said it now has more than 215,000 investors from 85 different countries, investing €4,700 on average.

In total, the investors have earned more than €70m in interest, the platform said.

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“All the milestones we’ve reached indicate that investors are increasingly looking for easy to access, transparent and simple ways to invest,” Martins Sulte (pictured), chief executive of Mintos, said.

“We have developed a unique marketplace with a great offering to individual investors.

“Along with impressive growth and engaged investor base, we are excited to see our vision – making investing in loans as common as investing in any other asset class – rapidly becoming a reality on a global scale.”

He said most investors invest more than €1,000 during their first week on the marketplace.

Investors are earning 11.83 per cent on average through the platform.

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