Mintos has reached a new milestone of 400,000 registered customers, as it heralds the vaccine roll-out and signs of an economic recovery.
Despite the Covid-19 crisis, 100,000 new users registered on Mintos in less than a year.
The lending marketplace is now reporting an average of 11,000 registrations per month – up from an average of 8,700 per month between April and December 2020, during the height of the pandemic.
However, this is still down from an average 16,600 users per month who joined the marketplace in the first quarter of 2020.
“In 2020, we were faced with the effects of the pandemic,” Mintos said. “Risks materialized almost simultaneously across geographies, lending companies, borrowers, and our investors. In March 2020, we adjusted our strategy, shifting from expansion and growth to the sustainability of our operations and day-to-day management of individual issue cases.”
As of this month, €6.5bn (£5.6bn) has been invested in loans on Mintos’ marketplace and investors have earned €148m in interest.
“With the roll-out of vaccinations and forecasts of market recovery in 2021, we started seeing growth across metrics on Mintos, including the number of new investors,” Mintos said in a blog on its website.
Mintos said that its registered users in May came from 122 counties, most of whom come from Germany, Spain and Czech Republic.
This year it has also seen more users from Belgium, Greece and Romania and as of May 2021, these countries have pushed Denmark, Poland and Portugal out of the top 10 list.
The majority of users on Mintos are aged 18 to 29, followed by those aged 30 to 40. In the first 30 days after joining Mintos, lenders have invested on average €1 447, distributed across 97 loans, the company said.
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