Mintos reaches €5bn of funded loans

Mintos has praised its staff after the number of loans funded through its platform reached €5bn (4.3bn).

Martins Sulte (pictured), chief executive of Mintos, said this milestone reflects the growing demand in the alternative investments market.

The platform, which lets individuals and institutions invest in loans originated by a variety of alternative lending companies from around the world, has 250,000 investors earning more than €1.6m in interest every week.

Read more: Mintos adds Albanian car loans to platform

“If you want to create a company that has an impact, you need to be transparent and set your mindset towards growth,” Sulte said.

“It isn’t a new concept but when you have the right team, the concept takes on a whole new meaning.”

Mintos team is formed of 200 employees in four offices – Riga, Berlin, Vilnius, and Warsaw.

The company plans to scale the team up to 400 throughout the current year.

It comes after Mintos launched a new mobile app that allows access to investor accounts and investment monitoring.

More than 3,500 users helped to test the beta version of the app, with different versions rolled out in multiple releases.

Later versions will provide insights and smart investing.

The app launch follows a year of milestones for the company, which saw the company valuing itself at €100m (£83.9m) earlier this year, and expanding into new markets.