Mintos Financial Report 2018

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Is Mintos profitable?

If you’re invested on Mintos you might be interested in how the company is doing financially (at least you should be). They just released their Financial Report for 2018 which you can review in detail here.

If you don’t want to read through all 34 pages you can find a summary with highlights below, written by Mintos.

(If you’re looking for a one-line answer, here it is: Yes, Mintos was marginally profitable by 13.496€ in 2018)

Mintos 2018 lookback

2018 has been a great year for us. With your help, we continued to strongly grow our business and community. And we became the leader in the European market for investments in loans: As reported by independent fintech website, Mintos had the largest volume of new investments among similar companies over the second half of 2018.

Our Investor base more than doubled. We started 2018 with 43,457 investors, and at the end of December we wished a “Happy New Year” to almost 100,000 investors.

Loans funded on Mintos

2018 saw investments in the marketplace more than triple, from EUR 332 million invested in 1.6 million new loans in 2017 to EUR 1.044 billion invested in 4.8 million new loans in 2018. We reached a milestone of EUR 1 billion invested in loans on the marketplace in August and closed the year with a grand total of EUR 1.5 billion invested in 6.9 million loans since the inception of the company.

New employees

Our focus continues to be creating a great and transparent investor experience. To keep pace with the growing marketplace and maintain our high quality of service, we’re investing in the team and facilities. 23 new employees joined us in 2018, and we decided to invest in a new office to accommodate the growing team.

New loan originators

31 new lending companies joined the Mintos marketplace in 2018, adding 13 originating countries to the map: Armenia, Colombia, Kazakhstan, Kenya, Kosovo, Mexico, Moldova, North Macedonia, Philippines, South Africa, Ukraine, United Kingdom, Zambia. Investors can now diversify their portfolios across loans originated in 28 countries around the globe.


As a result of the significant growth of the marketplace, our revenue more than doubled from EUR 2.137 million in 2017 to EUR 4.647 million in 2018. We continued to invest into further expansion and future development. Even with all these investments, we has remained profitable, with a net profit of EUR 13 thousand at the end of 2018.

The profit for the year includes charges of EUR 51 thousand (EUR 45 thousand in 2017) relating to the fair value of share-based payment benefits which are being recognized over the vesting period. By their nature, these payments are not reflective of ongoing trading performance and they are not considered part of the underlying results. Excluding these charges, the result is a profit of EUR 65 thousand for 2018 and EUR 241 thousand for 2017.

New features

We introduced many new features in 2018 that have improved the user experience: Mintos Ratings gauge the financial and operational stability of loan originators and further increase transparency for investors when making an investment decision. Auto Invest now also covers the Secondary Market and comes with three innovative Investment Strategies that help investors save time and effort. We worked hard on perfecting safety and convenience for investors, and added features like direct bank transfer and two-factor authentication to the marketplace.

Privacy protection

We take compliance very seriously at Mintos. We’ve invested in privacy protection to meet GDPR requirements, which became effective on May 25, 2018 in the EU. And even though Mintos is not regulated in terms of Anti-Money Laundering (AML) at the moment, we have expanded our AML team and procedures. Last but not least, we introduced a new online identity verification process and screening of all users registered on the marketplace.

In the media

Our efforts have been awarded with many recognition’s from international media and experts. The positive feedback from our investors culminated in the AltFi’s “People’s Choice Award” 2018, the third time in a row we received this reward after 2016 and 2017.

2019 outlook

In 2019, we will continue growing both our investor demand and the loan supply, with a focus on diversification across geographies, currencies and the safety of the Mintos marketplace.

Mintos Group plans to launch a Mintos banking account and debit card, which will further increase the value added to Mintos customers. The European e-money license application has been submitted and the license is expected to be obtained by the end of Q3 2019. To support further development, Mintos Group raised EUR 5 million in Series A funding in November 2018.

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6 Replies to “Mintos Financial Report 2018”

  1. hi Jørgen,
    great article and it’s very useful for you to do the hardwork of reading up on all these companies so that others can share in your wealth of information.
    Given the number of P2P platforms that are around at the moment – I don’t think that they can all be profitable and there will be consolidation in the market – with the bigger players gobbling up the smaller and maybe a few big busts.
    Is this something that you see happening? (it’s happened in the UK before)

    1. Speaking of the bigger players gobbling up the smaller ones.. What if you have a account (with investments) on the smallers ones.. Was everything lost or was it transferred to the bigger players? Just curious and it seems you have experience with this in the UK.. Thanks for sharing!!!

  2. I have taken a look at the accounts too and i was surprised to see that the 5M€ capital raise they announced as completed in october-november 2018 does not actually appear in the accounts published. It seems odd that they keep mentioning the capital raise as in their post but they are missing 5M€ in their balance sheet. I have requested them an explanation by email over a week ago but i received no reply yet. In my opinion it is a cause of concern. It would be a very easy thing to clear out, such as explaining that the agreement was binding but not actually completed in 2018. What is your take on it?

    1. I have no idea – for a company like Mintos I’m pretty sure there’s a good explanation. I’d be grateful if you’d post the reply from Mintos here, once you get it.

    2. Hi,
      What i have seen is that the financial report is for “Mintos Marketplace” and the capital raise was made by “Mintos Group”

      On page 7 of the report you can read “Mintos Group plans to launch a Mintos banking account and debit card, which will further increase the value added to Mintos customers.
      The European e-money licence application has been submitted and the license is expected to be obtained by the end of Q3 2019. To
      support further development, Mintos Group raised EUR 5 million in Series A funding in November 2018.

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