Interested in learning if Mintos is right for you? Read our Mintos review to see our experience with this P2P Lending platform and see if it’s the right choice for your investments.
What is Mintos?
Mintos is a P2P lending platform. It was originally founded in Latvia in 2015 and has become the world’s largest P2P lending marketplace since then. It has more than 161,542 investors from 69 countries, and € 2,840,593,825 ($3.16 billion USD) invested in loans. Today, it has nearly 40% market share in the P2P lending industry in Europe.
The company consistently receives great reviews from users. Also, it has been recognized by TrustPilot as a very reliable investing platform. Those who use it are consistently impressed by its features, functionality, and ease-of-use – and surprisingly deep research and investment tools.
It’s won numerous awards. This includes the altfi People’s Choice Award of 2018. Mintos has also received coverage from numerous international media institutions, including Forbes, TechCrunch, Fortune, and LendIt Europe.
Returns: Very good, but not the best
Investors have long been satisfied with the returns on Mintos. The company advertises that it has a 12.21% average net annual return rate. We have consistently seen an average return rate above 12% for the last three years for Mintos. Although it’s not the highest returns of all platforms (e.g. compared to Envestio), it’s definitely in the good end.
Your return rate depends on your appetite for risk, though. Some investors have earned 20% returns or more. This also depends on whether you have the stomach for taking such risks. We would sometimes prefer to let our money grow more safely and slowly over time.
You have plenty of options, though. As of writing this review, Mintos has 589,023 primary market loans available, and 386,313 secondary market loans available. You can look at the fundamentals of each loan, and see which ones are right for you.
Diversification: High potential to diversify investment
As with any other investment platform, diversification is important, and we give Mintos full marks in this category. There are hundreds of thousands of loans. This includes car loans, short term loans, personal loans, agricultural loans and more. You can sort loans by rating, loan duration, country of origin, currency, and loan originator.
Mintos offers loans from a total of 30 countries, including the United Kingdom, Mexico, Ukraine, Switzerland, Spain, and Sweden, just to name a few. It also works with dozens of loan originators. It’s easy to filter loans using its built-in categories and find the right loans to help you diversify your portfolio.
If you are risk-averse, you can spread your loans out across multiple currencies, originators, and countries of origin, and invest in many different types of loan. Mintos is perfect for this – and you will have no trouble building the diverse portfolio that you want.
Features: The most advanced functionality
Again, we give Mintos full marks for its features. It is by far the most advanced platform and has several fantastic features for investors. This includes autoinvesting, which allows you to optimize your portfolio without much effort on your part.
Autoinvesting allows you to “set and forget” your loan investments, by choosing your preferred interest rates, loan terms, diversification, and portfolio size. You also choose how much you want to invest in each loan. Once you set your preferred settings, all of your profits are automatically reinvested into loans that match your preferences. You don’t have to lift a finger.
Mintos also has a secondary marketplace for loans, where you can go to buy and resell loans. This provides you with more flexibility and allows you to get rid of loans you don’t want, or purchase loans from others.
Also, many of its loans are covered with a “Buyback Guarantee,” which ensures delinquent loans will be bought back from investors if not paid during the outlined period. After 60 days of delinquency, the loan originator must buy the loans back from the investor, including both the principal and accrued interest income. This protects you from default – but not the other risks related to P2P lending.
There are also no fees related to investing with Mintos for users, and you can start investing with as little as €10. This makes it easy for just about anyone to get started with this platform.
User experience: Mintos offers the best UX
The Mintos interface is great. It’s simple on the surface but has plenty of advanced functionality for power investors. You can quickly dig deeper, filter loans, and find the products in which you wish to invest.
Navigating and using the website could not be simpler. We never had any real issues beyond a few pages that always seemed to load slowly. We can forgive that, as the website is often loading hundreds of loans at a time.
Mintos risks & recommendation: Is it safe to use?
As with any P2P lending platform, there are some risks when investing with Mintos.
Borrower default is a risk unless you invest only loans with Buyback Guarantees (which we recommend!)
Loan originator bankruptcy is also a risk. You can reduce this by diversifying your portfolio and choosing reputable loan originators with good credit ratings. Mintos rates each lender automatically, so this is easier than on most other platforms.
Also, as with any investment, there is a risk that an economic crisis or market crash could result in losses – but that’s a risk with any investment.
Overall, we find investing with Mintos one of the safest P2P lending options, and we plan to continue to do so for years to come.