EU – Baltic States, Financial Services, Good for Business, Investments, Latvia

He informed that the funding has been provided by the company’s existing investor Grumpy Investments (previously known as Skillion Ventures).

Mintos has also applied for a European e-money license as the company plans to expanding the range of its services by adding an IBAN banking account and debit card.

The Mintos banking account will act like any other IBAN account. The platform’s users will be able use their Mintos accounts to receive their salaries, get paid by companies, or receive money from friends. They will also be able to transfer money out of their Mintos accounts or withdraw cash from ATMs, Sulte explained.

“The card will allow investors to access the money they hold on the Mintos account instantly by paying at their local grocery shop or online or withdrawing money at ATMs; basically use the card like any other bank card. They will no longer need to request a withdrawal from the platform to their bank account and wait up to two days for their money to arrive,” the Mintos CEO said.

In addition to these services, Mintos is working on a mobile app that will make investing on the platform and managing the investment portfolio easier.

Mintos launched operations in January 2015 in Riga. Mintos is a loan marketplace bringing together investors and non-bank lenders, providing an opportunity for individual and institutional investors to finance loans granted by non-bank lenders.