Using P2P Lending To Reach Financial Freedom

Mintos Review

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If you are here, it means you want to know something about the Mintos Peer-to-peer lending platform. I was looking around the internet, and thought about how all platforms seem to lack some diversification. Therefore, I found Mintos, and now I have done a review of a platform with great diversification options.

The Mintos review is 100% unbiased and based on my personal experience and findings. In the Mintos review, I will give my personal opinion of their service. I will include the subjective aspects which I like, and the objective facts – like statistics.

Mintos review

Mintos Overview

Mintos is the biggest European P2P/P2B lending platform. Mintos provide buyback guarantee and up to 19,5% annual interest. Mintos can be made a passive income source when using the auto investment tool. There is a lot of transparency on the platform, and enables you as an investor to take calculated risks.

  • Loan types: Business loans, invoice financing, mortgage loans, car loans, short-term loans, personal loans, and agricultural loans.
  • Loan terms: 0-200+ months
  • Interest rate: 6%-19,5%
  • Auto-invest: Yes, easy to use with a lot of customization
  • Buyback guarantee: Yes (on some loans)
  • Fees and costs: No fees
  • Minimum investment: €10
  • Currencies: EUR, CZK, DKK, GBP, GEL, KZT, MXN, PLN, RON, RUB, SEK, USD
  • Secondary market: Yes
  • Bonus: €5 and 1% extra interest on all loans in 90 days
  • Sign-up link: Mintos

What is Mintos P2P Lending Platform?

Mintos is a well-known marketplace for loans. Throughout the time I have used Mintos they have always had 200.000 plus loans on the primary and secondary market. Mintos was founding in 2015 in Lativa, Riga. Moreover, they are the platform with the biggest loan lists. They have funded loans for almost 2 billion euro, adding about 150 million a month. The minimum investment you can make in one loan is 10 euro. The average return for investors is currently at 12,17 %.

Mintos has participating investors all over the world. From South Africa to Russia. The only places they need investors to fill the world map are parts of Latin America, Africa and parts of Eastern Europe. There are 180.000 registered investors at Mintos across 70 countries.

World map of investors from Mintos (blue is registered investors)
World map of investors from Mintos (blue is registered investors)

Not only has Mintos registered investors all over the world, they have also won over 12 different awards since 2015! They have won Best Startup Brand in Latvia, Peoples Choice Award at AltFi and much more.

How does Mintos work?

Mintos is a P2P lending platform, and therefore they use a traditional P2P lending method for lenders and investors.

Mintos P2P lending platform method is a three-step process:

  1. The consumer/borrower applies for a loan at the loan originator, then
  2. The loan originators assess the application from the borrower. Then determines an interest rate and lends the borrower their money.
  3. From here the loans are listed on Mintos marketplace where we/you/all of us can invest in the loans.
How does Mintos work?
How does Mintos work?

Mintos are providing loans of multiple loan types.

  • Mortgage loans
  • Car loans
  • Invoice financing
  • Business loans
  • Short-term loans
  • Personal loans
  • Agricultural loans

The 8 loan types are diversified from 58 loan originators within 29 countries. Mintos have a total of 12 currencies available to which you can invest. However, I have found that not all currencies have available loans currently. The total loan spectrum provides a return from 5,5% to 18,1%. The available loans can range from around 150.000 euro to as little as 10 euro.

Getting started on Mintos

Like any other P2P lending site the first step to getting started is registering an account.

Mintos has a four-step process to registering:

  1. Name and Email
  2. Verifying identity
  3. Adding funds
  4. Investing
Mintos Sign Up Process
Mintos Sign Up Process

Signing up is very simple on Mintos. All you have to do is provide the necessary data, whether you are investing as an individual or a business. However, you should beware that to withdraw money you have to verify your identity. To verify you have to use a passport or driver license along with a picture of yourself. After the signup and verification, you can start depositing funds.

When the account is active you simply deposit the wanted amount of funds.

If you wish to invest in any other currency than sent from your bank account, Mintos has a currency exchange. From here you can exchange your funds to any of Mintos’ supported currencies. This comes with a fee. Instead transfer the correct currency from your bank, if that is cheaper.

However, there is bad news if you live in the UK. Financial Conduct Authority (FCA) has banned the use of P2P lending.

How To Invest on Mintos P2P Lending Platform

When the funds arrive you can invest in the hundred thousand of loans on the primary and secondary marketplace. You can manually browse the wanted criteria. However, an auto-investment tool can be used to automatically invest the funds you have available. Mintos have preset that you can use. However, I would recommend you to investigate the loan originators and tailor the auto-invest tool to generate a higher return, than what Mintos’ tool provides. The investments are giving you are return, which you can get transferred to your bank account, or simply let the auto-invest do its job and compound the interest.

Mintos' own auto-investment
Mintos’ auto-investment

The auto-investment will be discussed further down the page.

Manual Investing Through The Loan list

As mentioned previously Mintos has hundred thousands of loans to invest in. The sub-categories from the header shows loans on the primary and secondary market. Furthermore, they provide inside to loan originators, their ratings and statistics.

Website header under loan listings, with the sub categories
Website header under loan listings, with the subcategories

There is a massive amount of variables for the loans to look at. You have full transparency when investing through Mintos. They are open to showing the effective APR (Annual Percentage Rate). This indicates the cost for the borrower as an annual percentage. To simplify, if you have a loan at 10% APR with a loan amount of 100 euro, then: 100€ x 0.1(10%) = 10€. In other words, it will cost the borrower 10 euro to loan 100 euro.

However, be aware that some loans have 1000%+ APR and some have 0% APR. Given the calculation is correct it would be unrealistic to pay back a loan with over 1000%+ APR. Given the same example with loaning 100 euro, then: 100€ x 10(1000%)=1000€. This means that when borrowing 100 euro for 12 months the borrower will have to pay back 1000 euro (plus the 100 euros borrowed). I doubt borrowers can pay 1000 euro in interest for a loan of 100 euro. Otherwise, I doubt they had applied for a 100 euro loan anyway.

Mintos Invest & Access

Mintos has made a way to invest which is simpler than any other platform!

It is called invest & access. It is straight forward. You invest in a predefined portfolio that Mintos has created for you. You can start the portfolio with investments from 500 EUR. However, there is nothing you have to do. You do not need to stay updated on loan originators, or find loans covered by buyback guarantee.

It costs nothing, and it has a great return of ~12%. The minimum investment that can be made is €500. This is however not the cost, this is just the minimum investment amount.

Mintos Invest and Access comparison to auto investing
Mintos Invest and Access comparison to auto investing

Compared to any other platform, this is by far the easiest set-and-forget type of portfolio. If you have the time and want to make the effort you can get higher returns with the auto investment tool. However, if you want a high return without doing anything (true passive income), you should start an invest & access portfolio at Mintos.

Mintos Team And Organization

I find it important to know that the company is run by competent people when I invest my money. I do not care if the owners have previously failed in creating a business. Rarely business people and entrepreneurs make it the first time. Therefore I look at the current business.

Mintos seems very transparent with their employees, owners, financial statements, etc. On their “about” page, you can see employees and links to their LinkedIn profile. Mintos are hiring competent people. Their CEO Martins Sulte is a great example of this. He has been at NASDAQ OMX Baltics, a consultant at Ernst & Young, a corporate finance analyst and later became an Associate at SEB investment Banking, and currently in the supervisory board of Alternative Financial Services Association of Latvia and CEO and Co-founder of Mintos. Lots of experience at high rated and well-known firms.

The COO, CFO and Co-founder Martins Valters has been senior manager at Ernst & Young in 11 years before establishing Mintos.
These are just 2 examples of the higher ranking people at Mintos. However, looking into the team at Mintos I am in no doubt that they are highly competent to manage my funds.

Mintos Trustpilot

Mintos is one of the biggest P2P lending platforms currently. Furthermore, investors have a high general satisfaction with Mintos. The most general negative feedback is the exclusion of UK residents. However, with BREXIT around the corner, no one knows what is up. Therefore, I feel it is unjustified to give Mintos the blame.

Furthermore, there is bad news if you live in the UK. Financial Conduct Authority (FCA) has banned the use of P2P lending. However, getting authorized financial advice and taking a test that passes your knowledge of the risks involved will allow you to invest.

Mintos Trustpilot
Mintos Trustpilot

People on TrustPilot have given very positive feedback to Mintos. They have a 4/5 rating, and have a Trustscore of 8.6/10

Mintos Financial Statement

Mintos has released three financial statements, from 2015 to 2017. If a company is to manage just under 2 billion euro, I will expect them to make money. In 2016 they had a negative result of almost two and a half million. However, they managed to turn around and get a positive result of close to 2 million euro. Therefore, I hope they have managed to turn over and I am looking forward to the 2018 financial statement.

Mintos' financial statement from 2017 fiscal year
Mintos’ financial statement from 2017 fiscal year

Misleading information? Money is safe!

As a part of the Mintos review, I feel obligated to inform you when I find weird or abnormal information.

While I would find this highly unlikely it seems very wrong that loan providers can offer 0% APR. This would mean that you can borrow money for free. I am aware that you can buy items interest-free, and some loan originators tempt consumers with 30 days loans with 0% interest. However, after the 30 days, the interest goes through the roof, and that is how loan originators make their money.

Therefore I find it difficult to believe that the loan originators can provide an Annual Percentage Rate of 0%.

Mintos twitter response
Mintos twitter response

Mintos has replied to my question on a 0% APR. I have regained full trust to Mintos.

Loan originators on Mintos

One of the best things with Mintos is their overview with detailed information of EVERY loan originator on their platform. For each loan originator you can view Mintos’ rating, loan types, originators origin of country, currency which they provide loans, buyback guarantee, skin in the game as a percent, originator company founded, loans originated in total, current loan portfolio, loans outstanding on Mintos and average NAR%. And this is only in the overview of all the loan originators. In the detailed tab, you can view just as many topics, e.g. interest income on delayed payments, grace period, etc.

From my Fastinvest review, you can read that they do not show their loan originators. Therefore, I am glad that Mintos has a higher transparency, than most platforms.

I will be discussing how I use these details in the “my strategy with Mintos” section.

Is Mintos Safe? Buyback Guarantee

On Mintos, you can invest in both buyback and non-buyback guaranteed loans. Typically you can find loans with just as good returns with buyback guarantee as the counter loans without buyback guarantee. So for your own sake just invest in buyback guaranteed loans.

The buyback guarantee works like on most other P2P lending platforms. After x amount of time, the loan defaults and the principle is returned to the investor. The process is fully automatic and you have to do nothing as an investor. However for a loan originator to default they have up to 60 days to pay back the loan. This could lead to some serious cash-drag if you are not smart about your auto-invest tool. I will describe to you have to avoid defaulting without interest in the section “my strategy with Mintos”.

Mintos Rating

Like I am doing the Mintos review, Mintos is also reviewing their loan originators before they can be publishing loans of the platform!

Mintos takes their risk management very seriously. Which can be seen with their fair share of risk managers and risk analytics. However, Mintos has broad it to the next level and developed their own “Mintos Ratings”. The rating goes from A+ to D. At the top (A+) is where you find the lowest risk.

Mintos' different ratings
Mintos’ different ratings

Mintos’ Rating methodology is based on 5 different business factors with an individual weight.

  1. Operating environment (10%)
  2. Company profile (15%)
  3. Management and Strategy (15%)
  4. Risk appetite (20%)
  5. Financial profile (40%)

These 5 factors illustrates how Mintos operate with their loan originators. Mintos is focusing heavily on making money. They have 40% of their emphasis on the loan originator’s financial profile, followed by the loan originators’ risk appetite. 2 factors that can impact the economics of the investors easily.

Mintos Statistics

From ratings to statistics. How do loans on the platform perform you might ask?

Statistics of diversification of loans and return
Statistics of diversification of loans and return

To be fair Mintos do not provide high yield loans like Envestio. However, Mintos is such a big platform (+2 billion euro in originated loans) and can better customization for your loans. Let’s say a recession hits. If you have a high-risk portfolio you most likely lose your funds. Whereas if you invest in super safe A+ loans you might only have defaulting of loans. Hence you can customize the portfolio to your risk tolerance.

When that is said and done the numbers talk. There is very little (like non at all) bad debt. However, quite a lot of loans are with late payments. So far I have not had any loans to default, or I have received interest if it did.

Fees And Costs Of Using Mintos

Mintos is claimed to be a 100% fee-free service to use. To some extent they are right. Investing in loans, whether through auto-invest or done manually is fee-free. There is no annual fee or cost of service.

However, if you have transferred your funds in Euro and want to convert to let us say GEL (Georgian lari) for every euro converted there is a 0.02 euro fee. So if you convert 100 Euro to GEL the fee would be 100 x 0.02 = 2 euro. The price is not that expensive, however fee-less is not true.

With that said Mintos has no other fees to which I am aware of.

My Personal Experience With Mintos and My Mintos Income

My experience with Mintos has so far been pleasant. Mintos provide an excellent overview of all the details and parameters that you might want to adjust when investing. Some of these settings and adjustments I miss at other P2P lending platforms.

My Mintos portfolio value and income
My Mintos portfolio value and income

When I started the portfolio I went with a very low-risk diversification. I invested in B+ loans, which gave a ~10% return. However, I applied a new strategy and my weighted average interest rate is now 12.54% with an XIRR of up to 13%.

I think it is important to have the option to make diversification when investing. With Mintos, you can diversify in over 400.000 loans across the primary and secondary market. Furthermore, Mintos offers competitive returns. If you want to invest with great returns and have high diversification you can sign up here ( and start right away.

Therefore I am hopefully looking into the future, to see if the actual return can be met by the expected return. The return came along almost the same month as the change happened.

MonthMintos incomeMintos portfolio valueXIRR

Mintos Investment Strategy (My Personal Strategy)

My personal strategy for maximizing my return on investment.
My personal strategy for maximizing my return on investment.

My strategy is simple, however frustrating to set up the first time. The strategy is a mixture of high risk and safety (sounds weird, I know).

  1. Only loans with buyback guarantee.
  2. B- Mintos Ratings and up.
  3. Only loan originators which pay interest on delayed loans.
  4. Auto-invest 1 from 13% and up on the primary market.
  5. Auto-invest 2 from 12% and up on the secondary market. Maximum of 60 months.
  6. Auto-invest 3 from 12 % and up on the primary market. Maximum 12 months.

The first 2 step is done solely to prevent bad loans, as I do not wish to default to many loans. The third step is what I have been referring to in the whole blog post. Step 3 will prevent cash-drag and assure that you get interest no matter if the payment is late. The next 3 steps (4, 5 and 6) is just a random preference. If I can get a 13% interest rate I am happy no matter the term rate. However, the lower the return the quicker I want the loan term. This is to continue in loans which has the possibility of a higher return, as the platform is provided with new loans regularly.

The last 3 steps should you decide yourself. This is whatever you prefer. If you invest in rubble (RUB) you can get up to 19% returns. Therefore, this is something that you should determine yourself. You can also read my more thorough in-depth guide of the loan originators and how I picked my strategy here.

If you are interested in diversified loans with a good return on a trusted platform. You will receive an extra 1% on all of your investments, and you can start for just 10 EUR. You can signup here (

Mintos Bonus (Mintos Promo)

During my execution of the Mintos review, Mintos and I arranged an agreement where you can get 1% cashback on all of your investments. You can sign up by following this link. You will get 1% cashback, and as a reward I will get €5 for referring you. So if I helped you with this review, or you want to get started, please sign up through my link. You can implement my strategy and reach the same returns as you can find from my monthly income, which is ~13%.

Conclusion On Mintos Review

In the Mintos review, I have been described everything I know about Mintos. From here you should have a clear idea of what Mintos is and how to navigate the platform. With a strong and competent team and a financial statement which starts to generate positive cash-flows, I would not hesitate to recommend Mintos to a friend, or you. Mintos is a solid platform with full transparency. The returns can be upwards of 19% and with the right strategy, you can get paid even when the payments are delayed.

You are welcome to follow my updates on my Mintos income on my monthly income page.

If you want to replicate my success on Mintos, you can sign up here (Mintos) and receive an extra 1% interest.

If you found my Mintos review helpful I would appreciate you sharing it with others, thanks!

Mintos Review

Mintos is the biggest European P2P/P2B lending platform. Mintos provide buyback guarantee and up to 19,5% annual interest. Mintos can be made a passive income source when using the auto investment tool. There is a lot of transparency on the platform, and enables you as an investor to take calculated risks.

Editor's Rating:

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