Mintos, the leading alternative investment platform for investing in loans in Europe, has wrapped its first crowdfunding campaign on Crowdcube.
During the 10-day stretch, the fintech attracted over 7000 investors and raised a total of €7.2 million, the largest amount ever raised in continental Europe.
“The results of the campaign are beyond all our expectations,” said Martins Sulte, CEO and Co-Founder of Mintos. “While we did anticipate our community to engage actively in the campaign, little did we know that we would start breaking records right out of the gate. We would like to thank everyone who participated in the campaign. We are eager to continue working on our roadmap and start a new chapter with our new shareholders.”
Mintos raised €1 million in only 15 minutes upon opening to its community in the early access stage. Just over two and a half hours later, the company hit €3 million and eventually broke the record of the largest number of investors in a European (excl. the UK) campaign.
“Mintos has joined some of the world’s leading fintechs in using Crowdube to cement and enhance their relationship with their customers,” said Luke Lang, CMO and Co-Founder of Crowdcube said. “This record-breaking raise shows how harnessing the power of community can be turned into a strategic business milestone and making consumers owners can be integral to how these companies are run.”
Overall, investors from more than 90 countries took part in the campaign, the majority coming from Germany, Spain, and the Czech Republic. Although Mintos does not operate in the UK market, a significant number of investors from the UK also participated in the campaign.
The crowdfunding campaign was part of Mintos broader fundraising round, which will continue with raising funds with venture capital firms early next year. The funding raised from crowdfunding and venture capital will help further fuel the company’s growth and develop new products.
Until the crowdfunding campaign, Mintos had raised €7 million from angel investors, funding most of its growth by revenue. Since launching in 2015, the company has almost single-handedly built up the market of investing in loans in Europe to €6.6 billion, holding about 45% of the market.