Mintos Review 2026: Worth Investing Again? (Consider This!)

What is Mintos?

Mintos is a P2P marketplace based in Latvia, which is operated by AS Mintos Marketplace. The operational launch of the platform took place in 2015. In the following years, Mintos has developed into one of the largest P2P platforms in Europe, thanks to a highly scalable business model with externally connected lenders.

Mintos currently manages investor assets of EUR 600+ million, with more than 500,000 registered users.

With its licence as a European investment company, Mintos has increasingly integrated other asset classes on the platform. In addition to the traditional and historically grown range of loans, the platform’s portfolio now also includes ETFs, bonds and real estate.

Mintos at a Glance

All key facts and figures about Mintos at a glance.

Origin Story

The Latvian Martins Sulte, one of the founders and CEO of Mintos, was in the final stages of his MBA studies in 2014. At the time he wrote down some ideas about what he could do after graduation. 

With his experience in the financial sector (Ernst & Young, later investment banker at SEA) and his natural interest in technology, he wanted to combine both of his passions.

After reading an article about the British platform Landbay on TechCrunch, he became aware of the P2P lending business model.

Together with Martins Valters, who had previously been his supervisor at Ernst & Young, the two founded the company Mintos in 2014.

Business Model

How does Mintos make money? The P2P marketplace generated revenue of EUR 14.1 million last year, spread across nine different income sources.

Mintos earned 73.4% of its revenue (EUR 10.4 million) from service fees. These are fees charged to lending companies for listing assets on the Mintos platform. Historically, this position has always been the largest source of revenue for Mintos.

Net interest income, amounting to EUR 1.1 million (8.1% of revenue), was generated from uninvested investor funds. For context: Since receiving its investment brokerage license in 2021, Mintos has maintained a business relationship with the asset manager BlackRock, through which the platform parks uninvested investor funds in a money market fund managed by BlackRock.

Other revenue sources include bond placement fees, management fees, one-off transaction fees charged to lending companies, inactivity fees for investors, commissions on foreign exchange conversions, and fees from transactions on the secondary market. These smaller items together account for approximately 18.5% of Mintos’ total revenue.

Ownership and Management

Who are the main shareholders and management executives behind Mintos? Let’s have a look!

Mintos Ownership

Who owns Mintos? The Latvia based P2P platform is operated by the company “AS Mintos Marketplace”. This company in turn belongs to the parent company “AS Mintos Holdings”. If we take a look in the Latvian company register, we will find a large number of different shareholders for this company.

The largest share, 30.52%, belongs to AS ALPPES Capital, which is 100% controlled by Aigars Kesenfelds. The Latvian multimillionaire, who was one of the four founders of 4finance in 2008, rarely appears in public. However, his reputation precedes him by far.

The article “The Fast Millionaire” portrays the rise and background of Aigars Kensenfelds’ empire and also reveals his links to Mintos.

Mintos Management

Mintos is represented at the top of the management team by CEO and co-founder Martins Sulte. The Latvian citizen worked as an investment banker at SEB for six years after studying economics at the University of Riga. After receiving his MBA in 2013, he then founded the Latvian P2P marketplace with Martins Valters, his former supervisor at Ernst & Young and current COO at Mintos.

In personal meetings with Martins from 2019 to 2024, he always made a tidy and competent impression. He was also frequently available to answer questions outside of official interviews.

Sign Up and Bonus

In order to invest on Mintos, investors must meet two important requirements: A minimum age of 18 years and proof of a European bank account in their own name.

The registration process on Mintos is very simple and intuitive. After opening an account via email, the KYC and AML questionnaires must be filled out. This is followed by the verification of identity and the declaration of tax residence.

Mintos Bonus

New investors have the opportunity to redeem a EUR 25 bonus on Mintos. The only requirement is to invest at least EUR 1,500 within 30 days of registration. All investment classes are included (loans, bonds, ETFs, and real estate), except for Mintos Smart Cash.

Investors can use my partner link on the P2P platform to register.

A cross-platform overview with all bonus offers and cashback promotions can be found by investors on the bonus page.

Mintos Forum

The P2P lending industry is a fast-moving environment. Hence, make sure to stay on top of all relevant information by subscribing to my channels on Telegram or WhatsApp. This way, you will always receive the latest information from the P2P industry, including platform news regarding Mintos. 

Investing on Mintos

How does Mintos work and what should investors know and consider when investing on the marketplace? In the following sections of my Mintos review you will find all the necessary information that you need.

Loan Offering

The 80+ lenders represented on Mintos offer a variety of different loan types. These include:

• Private: Consumer Loans, payday loans, car loans
• Corporate: Business loans, agricultural and factoring loans
• Real Estate: Mortgage loans.  

From an investor’s perspective, the large number of loan types is a big advantage in terms of diversifying the loan portfolio on Mintos.

Investors can achieve further diversification with the geographical selection of their P2P loans, as up to 33 different countries can be selected for investments. The geographical focus is on Europe, with a focus on the Baltic States, the Balkans and Eastern Europe. However, it is also possible to invest in Africa (South Africa, Zambia, Namibia, Botswana, Kenya), South America (Colombia, Mexico) or South East Asia (Philippines, Vietnam, Indonesia).

The terms of the loans depend on the lending company and the structure of the individual bonds (notes).

Fractional Bonds

Due to its licensing as a brokerage company, Mintos can make further asset classes accessible to its investor community, apart from the lending business. Since October 2023, this also includes the possibility to invest in bonds.

Interesting here is both the low minimum investment amount of only EUR 50 and the fact that there are no management fees. The first offer on Mintos comes from Eleving Group (formerly Mogo). The bond of EUR 3 million runs for 5 years and offers investors an interest rate of 13%.

High-Yield Bonds Portfolio

In November 2025, Mintos launched the automated “High-Yield Bonds Portfolio,” an expansion of its existing bond offerings. The idea is fairly simple: instead of selecting individual bonds, Mintos creates a broad portfolio with at least 20 different high-yield bonds from various industries.

Advantages for investors: broader diversification, more predictable and regular income, and a daily cash-out feature (liquidity depending on market conditions). The minimum investment amount is set at EUR 50.

Until the end of 2025, the bond portfolios will be free of charge. Starting in 2026, an annual management fee of 0.39% will apply.

The introduction of the “High-Yield Bonds Portfolio” strongly resembles Mintos’ launch of Invest & Access in 2019, which aimed to offer an alternative to Bondora Go & Grow. At least the three underlying goals are nearly identical: increase revenue, integrate less popular offerings, and provide seemingly more liquidity for investors.

Mintos Core ETF Portfolio

With the Mintos Core ETF portfolio, the P2P marketplace added another asset class in December 2023. The platform takes care of all portfolio management aspects, including market analysis, selecting ETFs and scheduling transactions. Based on a catalogue of questions, the company puts together an ETF portfolio that is designed to meet the investor’s risk tolerance and investment objectives.

Investments in the Mintos Core ETF can be made from as little as EUR 50. Mintos does currently not charge any fees for this service.

Mintos Smart Cash

In June 2024, the P2P marketplace launched Mintos Smart Cash. Here, investors can invest their cash reserves flexibly and achieve a return of up to 2.0%. The return is generated by a money market fund which is managed by BlackRock.

Mintos has been working with BlackRock since its IBF licensing and manages non-invested funds from its investor accounts there. This enabled Mintos to generate a revenue of EUR 1.2 million in 2023 (10.7% of total revenue). Further details of Mintos Smart Cash have been discussed with CEO Martins Sulte during my stay in Riga.

Crypto Investments on Mintos

Since March 2026, investors on Mintos can also invest in cryptocurrencies. This is done via regulated crypto-ETPs, meaning no wallets, private keys, or external exchanges are required. Mintos therefore provides a simple and regulated way to access traditional crypto investments.

At the launch, seven cryptocurrencies are available (Bitcoin, Ethereum, Ripple, Solana, TRON, Avalanche, and Litecoin), which can be traded via well-known product providers such as BlackRock iShares and VanEck.

The crypto-ETPs (Exchange Traded Products) are traded on regulated European markets and are physically backed. This means the underlying cryptocurrencies are actually held, reducing risk compared to synthetic products.

Crypto trading on Mintos is possible from as little as EUR 5, with transaction fees of 0.49% (or a minimum of EUR 0.99). Trading remains free of charge until the end of April 2026.

Costs and Fees

Investors can register on Mintos free of charge. There are also no costs or hidden fees for deposits and withdrawals. However, there are some cost factors on Mintos to consider.

• Inactivity fee: EUR 4.90 per month
• Deposits via card, Apple Pay, or Google Pay: 2%
• Transaction fee for sales via secondary market: 0.85%
• Currency exchange: from 0.5%
• Management Fee Mintos Core Loans: 0,39%
• Management Fee Mintos Custom Loans: 0,29%
• Access Mintos Smart Cash: 0.19%

Expected Returns

According to Mintos, the net return on the platform is between 10% and 12%. The calculation is made including an annual loss ratio. For this reason, the return on investment in 2020 is only at 2.4%.

Write-downs were taken on loans issued by suspended credit entities based on our recovery estimates.

Afer being five years with Mintos, my personal return is at 10.79%. However, there are still more than EUR 1,000 in the recovery process, which I declared as a loss since no recoveries have been made for two straight years. As a result, my total return has dropped to 7.22%.

Auto Invest

Mintos offers an Auto Invest feature (Mintos Custom Loans), which allows users to set individual criteria for loan selection in advance. This means that loan repayments are automatically reinvested, eliminating the need for manual handling. With Mintos Auto Invest, the following settings, among others, can be configured:

• Selection of lenders and borrower countries
• Loan type (Personal, Corporate, Real Estate)
• Buyback obligation (Yes, No)
• Interest rate: From 5% to 30+% percent
• Loan term: Up to 72 months
• Investment amount per loan

The minimum investment amount on Mintos is EUR 10. Since May 16, 2025, an annual fee of 0.29% is charged for using the “Custom Loan Portfolios.” This fee applies to both the primary and the secondary market.

Mintos App

Mintos launched a smartphone app for its investors in February 2020. Check here for iOS (App Store) and Android (Play Store) to download the app.

Mintos Taxes

After Mintos has become a licensed brokerage company, the platform is now legally obligated to withhold taxes on your income earnings that derives from investments into regulated financial instruments (Notes). The tax will be automatically withhold after receiving an interest payment.

The applicable tax rate is depending on the country of your tax residency and according to the submitted tax information and certificates. 

• 20% for private investors and tax residents of Latvia
• 20% for investors from outside the EU/EEA
• 5% for private investors with residency in the EU/EEA (except for Latvia)
• 0% for Lithuanian tax residents (tax certificate is required)
• 0% for legal entities 

Mintos Risks

Mintos faced several crises and problems in the past. While the origins of these crises are not related to Mintos (Covid-19 pandemic, war in Ukraine), they have clearly exposed the problems at Mintos. Especially in 2020, there have been numerous actions and entanglements that have not painted a good picture with regards to the integrity of the platform. 

Platform Risk

AS Mintos Marketplace obtained an investment brokerage licence in August 2021, issued by the Latvian Central Bank. As a result, the platform is subject to the requirements of the MiFID II (Markets in Financial Instruments Directive). This regulatory framework is designed to enhance investor protection and reduce systemic risks by establishing common standards and rules for investment firms operating within the EU. Among other things, it covers the following areas:

Investor Compensation Scheme: Investors are entitled to compensation if Mintos fails to return financial instruments or funds due to fraud or administrative errors on the part of the P2P platform. The compensation that an investor may claim under this scheme is limited to Mintos’ outstanding obligations toward the investor and capped at a maximum of EUR 20,000.

It is important to note that this compensation scheme does not protect against investment risks. Therefore, potential loan defaults by lending companies are not covered by the investor compensation system.

Segregated Investor Accounts: As part of its regulatory obligations, Mintos must keep investors’ financial instruments and uninvested funds separate from its own assets. This segregation helps prevent any misuse or misappropriation of investor funds by the P2P lending platform.

Transparent Information: Investors are provided with comprehensive information designed to help them make well-informed investment decisions. Among other things, Mintos regularly publishes annual reports audited by KPMG, offering insight into the platform’s financial stability.

Deposit Insurance

The investments offered through Mintos are not covered by European deposit guarantee schemes (such as the Deposit Guarantee Directive 2014/49/EU). This means that – unlike traditional bank deposits – funds invested on Mintos are not insured or guaranteed by any national or European compensation scheme.

Accordingly, investors should be aware that the capital invested is subject to the risk of loss, that returns are not guaranteed, and that they may not recover the full amount originally invested.

Financial Stability

The financial stability of a P2P platform is a key risk factor. Is Mintos able to operate profitably? And what conclusions can be drawn from the balance sheet?

The following figures are based on the Mintos annual report for 2025. The report was prepared by KPMG Baltics and audited in accordance with IFRS standards. The figures therefore carry a certain degree of credibility.

Profitability

Mintos has recorded a loss of around EUR 2 million in each of the past two financial years.

Although revenue increased by 17% to EUR 14.1 million, operating expenses also continued to rise. In particular, there were significant increases in employee costs (EUR 6.5 million; previous year: EUR 5.1 million) and investments in new IT systems (EUR 3.8 million; previous year: EUR 2.8 million).

Balance Sheet

The strong growth pace of Mintos is clearly reflected in its balance sheet figures. While the company is already able to generate positive operating cash flow (EUR 1.38 million), net cash flows from investing activities are still significantly higher (EUR 3.72 million).

To offset ongoing losses, Mintos carried out a capital increase in the first half of 2026, injecting an additional EUR 2.2 million into the company. The funds came from a funding round in which private investors contributed EUR 2.8 million.

The equity ratio decreased to 36.3%, but remains at an acceptable level. In addition, both the liquidity ratio (1.37) and the debt ratio (1.75) have worsened. For a growth-oriented company, the balance sheet is not alarming, but also not comfortable. As long as growth continues and fresh capital flows in, there should be no issues.

Lender Risk

At the shareholder level, Mintos has always had significant overlaps with many of its lending companies. This creates the issue that measures taken often serve the interests of shareholders first and investors only second.

Particularly in the period before obtaining the IBF license, there were several instances where apparent conflicts of interest resulted in disadvantages for investors.

Finko Group

With an outstanding portfolio of around EUR 100 million, the Finko Group was the largest non-bank lender on Mintos at the beginning of 2020. The year before, the group — which was represented on Mintos through seven lending companies — had financed EUR 366 million in consumer loans and generated a profit of EUR 17.6 million.

One year later, little more than an empty shell was left of the group. Some lenders had their licenses revoked under dubious circumstances (such as Varks in Armenia), others filed for bankruptcy (Metrokredit and Kiva in Russia), and some were sold off for a fraction of their value to competitors with the same shareholders (such as Sebo in Moldova). As a result, no funds remained to honour the previously promoted buyback guarantees.

Varks

With an outstanding portfolio of EUR 30 million on Mintos, the Armenian lender Varks was the largest lender within the Finko Group at the time its license was revoked in March 2020. Although there were already obvious issues with the lender from the Armenian central bank at that time, Varks was still promoted by Mintos through a variety of measures, including forward flows and cashback campaigns.

In the case of Varks, Mintos was well aware of the lender’s financial situation and problems with the central bank. Yet, no measures were taken or initiated to protect investors funds. In the end, it was publicly communicated that a two-year repayment plan was in place, serving the outstanding obgligations by the end of 2022. In June 2024, around EUR 10 million in investor funds had still not been repaid. Mintos now forecasts a loss of 50% to 25%.

Lender Analysis

Due to the COVID-19 pandemic and the war in Ukraine, Mintos experienced numerous problems with lenders, many of whom were subsequently unable to meet their outstanding obligations to investors. At times, up to EUR 150 million of investor funds were in recovery, affecting around 30% of Mintos’ total loan portfolio.

For a successful investment on Mintos, it is therefore essential that investors independently examine the risk profile of each lender. To assess the financial stability, the following table provides an overview of the current financial figures.

You can check out the lender overview and comparison page to learn more about the applied KPIs and their interpretation.

Mintos in Crisis Situations

To better assess Mintos’ risk management, it is useful to take a closer look at how the platform has behaved during past crisis situations.

Covid-19 Pandemic

Mintos responded relatively early to the COVID-19 crisis, implementing both strategic and operational adjustments. In the first “Ask Mintos Anything” session on March 19, 2020, Mintos CEO Martins Sulte communicated several measures, including financial stabilization and platform consolidation, cost reductions of around 40%, the dismissal of 45 employees (after 140 new hires in 2019), and a scaling back of marketing budgets.

Particularly questionable, however, were two measures that Mintos implemented in the aftermath of the pandemic.

Schedule Extension: In October 2019, Mintos introduced a schedule extension for the first time. While the measure initially appeared reasonable (no loan buybacks would be triggered when a loan term was extended) it soon became a pretext to give loan originators maximum flexibility at the expense of investor liquidity.

In March 20220, the schedule extension was increased to up to 6 intervals of 31 days each. In the same month, Mintos announced that also defaulted loans could be further postponed. Not only did Mintos violate its own terms of use with these actions, they also worked more in favor of their (affiliated) loan originators rather than the interest of their investor community.

New Terms & Conditions: Equally controversial was the introduction of new terms and conditions in August 2020. What was presented to investors as an update regarding “Mintos Strategies” actually included nothing less than requiring investors to cover legal costs if loan originators were to default. This effectively shifted liability from Mintos to the investor, reducing the platform’s responsibility.

War in Ukraine

The war in Ukraine had a significant impact on Mintos investors. After Russia invaded Ukraine in April 2022, Mintos suspended all new investments on the primary market for Russian and Ukrainian loans. A total of eight loan originators were affected: Creditter, DoZarplati, EcoFinance, Kviku, Lime, Mikro Kapital, Mokka, and SOSCREDIT.

Mintos has taken the following actions in response:

• Removal of all Russian and Ukrainian loan originators from Mintos Strategies.
• No currency conversion with the Russian ruble, applicable to all currencies.
• Potential buying and selling of Russian and Ukrainian loans only via the secondary market.
• Russian and Ukrainian loans in Mintos Strategies are not available for standard payouts.

Advantages and Disadvantages

In this section, I have listed the biggest advantages and disadvantages of Mintos.

Summary Mintos Review

Mintos is the market leader in the European P2P lending environment. This status has been achieved through a highly scalable business model with externally connected lenders.

With a favourable economic situation behind them, investors have been able to regularly achieve double-digit returns. However, investors had to pay the price for this rapid growth due to a combination of inadequate due diligence and macroeconomic events.

As a result, more than EUR 140 million are still in the recovery process in 2024. Mintos itself is already expecting a loss of at least EUR 64 million.

Because the overall performance of the Mintos portfolio shows that a diversified approach across multiple lenders does not work, investing in P2P loans is only recommended for advanced investors who are able to evaluate individual lending companies.

Apart from that, asset classes like fractional bonds offer a much more interesting alternative for investors on Mintos.

Mintos Alternatives

Already invested in Mintos? Or looking for similar platforms? Here are three Mintos alternatives from the P2P market.

Income Marketplace: An unregulated P2P marketplace headquartered in Estonia, which markets itself through innovative security features that are designed to protect investors from underperforming loan originators. Similar to Mintos, Income Marketplace follows a marketplace model with a wide range of international loan originators. Attractive combination of high interest rates and high liquidity. More information in my Income Marketplace review.

PeerBerry: A P2P marketplace incorporated in Croatia, working closely with partners from within the Aventus Group. Compared to Mintos, PeerBerry is notably more focused in its approach and stands out through a strong performance during times of crisis and a reliable repayment quality. More information in my PeerBerry review.

Afranga: A regulated P2P marketplace based in Bulgaria, holding an ECSP licence. Compared to Mintos, Afranga is notably smaller and more focused in its approach, but offers competitive interest rates and a clean performance record with no capital losses for investors to date. A good fit for investors looking to add a regulated niche platform to their portfolio. More information in my Afranga review.

On my blog, investors can find a detailed breakdown with the best Mintos Alternatives in 2026. You can find other Mintos alternatives in the P2P Platform Comparison page.

FAQ Mintos Review

Denny Neidhardt

denny@rethink-p2p.de | Webseite

I’m Denny Neidhardt, the founder of re:think P2P. On this blog, I help retail investors make smarter, well-informed investment decisions in the world of P2P lending. Since 2019, I’ve been publishing in-depth analyses, platform reviews, and risk assessments to bring more transparency to this investment space. My goal is to challenge marketing claims, question developments, and empower investors with honest, independent insights.

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