The Mintos marketplace for loans currently has overloans available from more than 60 loan originators. Each of these loan originators has its own ratings, loan types, buyback guarantees, and other various attributes.
If you are new to P2P investing, all of these options can be intimidating. Here are 3 Mintos alternatives that you should know about. Mintos is a P2P mega-platform in Europe, joining loan originators with investors.Bondora - Investir de uma forma fácil! - Renda Maior
Mintos currently offers investments:. However, if you actively manage your investments, you would have the choice of over 70, loans in the Primary market, and overin the secondary. For most people, that is too much choice. Yes, you can narrow the search down to a specific currency. Yes, you can choose to automatically reinvest your income, however, you are still left with too much choice or a sub-par return.
Below I have listed 3 great alternatives to Mintos. My Mintos platform review can be found here. Grupeer is a Latvian P2P investment platform, created in The platform works in a similar way to Mintos, acting as a medium to connect investors with loan originators. Currently, Loans issued on Grupeer focus on investments in credit deals i. Grupeer currently boasts an average return of My Grupeer platform review can be found here. Fast Invest offers two forms of protection.
Firstly, Fast Invest offers a buyback guarantee, which allows an investor to sell their investment, which will be bought back by Fast Invest in 1 business day guaranteed. Secondly, Fast Invest offers a default guarantee which will settle any arrears if a payment is overdue by 3 days. Fast Invest currently has an average return of My Fast Invest platform review can be found here.
7 Mintos Alternatives for 2020
Envestio is an Estonian P2P platform created in As several P2B peer-to-business platforms proved to be scams, investors started to seriously question the safety of their funds. The situation worsened with the covid crisis : many people lost their jobs, and businesses suffered as they had to stay closed. As a result, many borrowers may be unable to reimburse their loans. In many countries, governments have imposed restrictions on loans repayments, allowing borrowers to defer them.
In addition to these national rules, several platforms decided to grant all borrowers a delay. In addition, several loan originators A loan originator is the firm that originally provides the loan to the borrower. They usually lend a small percent of the amount using their own funds, while the remaining is put on sale on loans marketplaces. Other ran into troubles because of wild currency rate fluctuations. With 70 loan originators, Mintos was particularly impacted.
Although there were exceptions, many of them communicated in a very open and transparent fashion. Among them, Mintos and PeerBerry especially stand out as they communicated very actively, and gave factual statements regarding the situation. Crowdestor has also communicated much more than they used to, although in a somehow disorganized fashion. PeerBerry will likely join this list of favorite platforms in a next update, as well as BulkEstate.
For now, the main change is the removal of Grupeer; however, I rewrote most of this article in order to incorporate recent changes.
If repayment of a loan is delayed by more than a given delay usually 30 or 60 daysthe platform or loan originator will buy back the loan. The guarantee may cover only part of the capital, or in a much more interesting case, both the capital and accrued interests. Mintos is probably the leading P2P platform in Europe, thanks to their large variety of originators providing a huge volume of loans.
This platform has many selling points, as well as a few drawbacks — most of them being are the consequence of the very large number of loan originators available on the platform. First, compared to many smaller-scale competitors, the platform is very large and regarded as reliable. It also features a very large number of loan originators.
Currently, 70 are available on the platform! As a result, the amount and variety of available loans is huge. On the negative side, the quality of the loan originators is very heterogeneous : several of them defaulted and many are considered as unreliable. The situation worsened during the covid outbreak, as several originators were unable to fulfill their obligations towards investors. Indeed, all loan originators on Iuvo are profitable companies, and the level of skin in the game The skin in the game is the amount of capital invested in a loan by the originator, using their own funds.
On the minus side, although all loans are covered by a buyback guarantee, this protection is less advantageous than at many competitors. Indeed, apart from a few exceptions, it only covers the principal; interests are excluded. Also, the delay for the buyback guarantee is 60 days for most loan originators at Iuvo, which is rather long. Of course, the increased safety also leads to decreased returns compared to more risky alternatives.
These projects usually involve much larger amounts than P2P loans, and the loans duration is usually longer. After many P2B proved to be scams, these investments are now regarded with suspicion by many investors. As a matter of fact, among the remaining platforms, both TFGcrowd and Wisefund are currently on my blacklist.This Mintos review is based entirely on my experiences after 3 years of investing. Always do your own research. Mintos is a Latvian P2P investment marketplace that connects alternative lending companies with investors all over the world.
The platform launched in January and currently serve 59 loan originators and more than investors from 73 countries. Loans worth more than 1. By the end of the year, they plan to double the number of employees. Less than 3 years after launching, Mintos reached profitability in with a revenue of 2.
Click here to see how my Mintos portfolio has evolved over time.
Mintos Alternatives with Higher Interest Rates ft. Bernhard Hummel
The page is updated every month! I have invested with Mintos since My personal net return is The net average return across the platform is Mintos is a highly trusted platform and some people invest very large amounts there. But what is the definition of a buyback guarantee on Mintos? Instead you only have to worry about the loan originator defaulting. If the loan originator has a healthy and profitable business then you will be able to profit.
Personally I think the buyback guarantee makes P2P lending much more appealing to the average investor! After 5 years of service Mintos has seen 8 out of 70 loan originators default on their obligations. I will not go too much into detail about defaults in this post, just be aware that bankruptcy of a loan originator can happen. You can read more about defaulted loan originators in this Mintos blog post from July 2nd In Mintos introduced campaign rewards. It basically means that you get cash back when you invest in loans from a certain loan originator.
Now your account value is 10 Some of these loans might even be bought back if the loan agreements are changed. In that case you will receive your invested principal and interest back, which you can invest in new cashback loans. Long story short, the cashback campaigns can give a really nice bump to your invested amount in a short period of time!
My Mintos portfolio is not diversified much. I cannot give you any specific advise on who and what to invest in, but I can show you how I have set up my auto-invest. I select only the loans originators with Mintos rating from A-B, where the originator pays interest for delayed and defaulted loans.
Unfortunately, the auto-invest tool does not favor higher interest loans. If you set min. Below you can see my current Auto-Invest settings. I adjust the settings once a month to include new originators and to make sure I get the highest interest rate possible.Average rating 4.
Vote count: No votes so far! Be the first to rate this post. In addition, most of the loans come with a BuyBack guarantee feature, meaning that the peer to peer lending platform will pay back the investment to the investor if the borrower defaults to pay on this platform it happens after 60 days.
Also, this platform statistics show us that if we invest without BuyBack, the average investments default rate is 0. And that the investments types with the biggest default rate are: Invoicing Financing. Business Loans and Mortage Loans. When investing with Mintos multiple information are provided. Below are explained the relevant or complex ones. Mintos bonus and cashback Register on Mintos by clicking the button below to benefit of Mintos bonus as a cashback payment.
This website is not responsible for the accuracy of the data provided. It provides a personal point of view. Never invest more than you can afford, and do your own research before investing. We do not cover any losses you may incur from investing. Mintos Review Investors [ Disclamer This website is not responsible for the accuracy of the data provided.
Get investment opportunities. Rate this platform Submit Rating Average rating 4. Vote count: 24 No votes so far! The image below shows the constant progress of the amount under the management of this platform. How it works: Borrowers apply for a loan to one of the loan originators present on Mintos The loan originators evaluate the risk of each application, define an interest rate and lend money from their own funds to the borrower.
Personal loans. Business loans. In our case, the It can be used as an indicator of level of originator risk. Investors can click on it to have additional information. Register on Mintos by clicking the button below to benefit of Mintos bonus as a cashback payment. View the list of all the platforms. Mintos Auto-Invest setup. Mintos App. Mintos Login and Registration.This post is also available in: Spanish.
Mintos is a peer-to-peer lending platform in Europe. Like many other FinTech companies of this type, it is based in the Baltic region; in Latvia specifically. Mintos started operating inbut has experienced rapid growth due to getting a lot of things right and becoming popular with financial bloggers due to its ease of use and transparency. The average net annual return for investors is Mintos is also the only double award winner at the annual AltFi awards of Another important statistic to look at is the loan book growth, and here again, Mintos is doing very well as can be seen in the following screenshot.
The total money invested so far is higher than 2. There is no doubt that Mintos is the biggest player in P2P lending in Europe at the moment. There are some good competitors, but none of them provide the security and track record that Mintos does.
I am one of those who take a look at these pages on a website and use them when judging whether I should invest on a platform or not. Everything counts. Finally and very importantly, Mintos as a company is profitable, so they are not only running on investor money but are actually turning a profit, which means that they have a much higher chance of standing the test of time compared to some other competitors that are still in startup mode.
You can read my general thoughts about the pandemic and how it will affect P2P lending and also a separate post in which I talk about the actions Mintos is taking to protect its business. I wanted to get that right out of the way before we start. They have a very competent management team and have taken sensible measures to make sure that investors, Mintos itself, and borrowers are treated fairly in these exceptional circumstances.
Mintos is a loan aggregator, which means that it partners with loan originators worldwide to bring in their loans onto the platform.
These loans would be pre-funded, which means that the originators themselves have supplied the loan to the end customer, and are now reselling part of that loan to us investors via Mintos. The people at Mintos conduct their research on each loan originator periodically and assign them a score based on various factors. They also provide information pages on each of these originators so that as an investor you can easily learn more about them. No other platform in Europe currently has anywhere close to the number of loan originators that Mintos has.
This contributes to the huge loan pool that Mintos currently has and improves liquidity. Every loan originator is required to have skin in the game, and many of them also provide a buyback guarantee.
The buyback guarantee means that if a borrower defaults, the loan originator will automatically buy back the defaulted loan from the investors and also pay them interest for the period during which the loan was in default.
Some people have thus asked me where is the risk in investing in Mintos when loans come with a buyback guarantee. We will have a look at the risks later but to answer that question, the risk is that the loan originator itself goes out of business. This has so far happened once, with Eurocent, a Polish loan originator, going bankrupt.Mintos is one of the largest peer-to-peer lending platforms; they offer a huge volume of loans of all kinds and durations. They deliver an excellent and very regular performance, and the impressive loans volume means that basically any amount can be invested without fearing a cash drag.
Also, thanks to the availability of investing methods other than manual or auto-invest, even beginner investors can easily invest through the platform.
While interest rates can vary greatly depending on supply and demand, the overall performance of my Mintos portfolio is excellent. Mintos offers an impressive array of loan kinds, in many countries and thus many different currencies. Interest rates on the platform tend to vary a lot throughout the year. The remaining loans are spread between business loans, mortgage loans and invoice financing.
As I updated this article in AugustI expected Mintos to feature 30 or 40 loans originators. It turns out there were actually more than 60! The platform will send notifications as new originators are added, giving investors the opportunity to include them in their auto-invest portfolio.
This ensures that the originators provides quality loans, as they will be directly impacted if the borrower defaults.
Mintos FAQ has a great explanation of the skin in the game, which I incite you to read. This once more emphasizes the need for a large diversification! An excellent source of independent ratings for Mintos loan originators is the ratings computed by Explore P2P.
Most loans on Mintos are covered by a buyback guarantee. Mintos actually offers 4 different ways to invest in loans. There are three of them, named Short-term strategyDiversification strategy and Secured loan strategy.
When the pre-defined strategies were launched, the indicative returns were as high as Although this investing method is extremely easy to use, it also has several drawback investors should be aware of. This amount will be automatically allocated through available loans. This simplicity makes it very easy for beginner investors to use Mintos.Mintos is a peer-to-peer lending marketplace that connects investors with borrowers of various loan originators.
At Mintos, both retail and institutional investors can invest in a fraction of loans across Europe. It offers mortgage loans, personal loans, small business loans, and secured car loans. Both entities and individuals can invest through Mintos. Loan originators by connecting through the platform get an instant access to investors that are looking to purchase loans. Credible is the multi-place market lender that allows borrowers to receive competitive loan offers from its vetted partners.
Ondeck is a technology-enabled financial platform that provides loan financing to small and medium-sized businesses. Gokapital provides various Business funding including equipment lending, cash advances, business loans and unsecured term loans. Avant is a platform that offers access to personal loans at competitive interest rates with a quick and transparent process that is entirely online.
Upstart is an online lending platform that finances people based on signals of their potential including work history, academic performance, the area of study, etc. They provide borrowers with a positive experience when obtaining personal loans that are fast, clear Their customers typically include medical and dental practices, retail and grocery stores e-commerce companies, and Their cutting-edge technology, quick application, and approval processes, customer-focused delivery are great benefits to the Every organization or even an individual goes through a time when they need to borrow capital to sail through rough tides.
Meanwhile, someone at another end of the world has a lot of capital that they want to invest for higher returns. How about balancing this inequality? This is where Mintos comes into the conversation. Mintos is a platform that allows users to invest their capital by lending it to a needy organization at another end of the world. They get a greater amount of money in return while someone in dire need gets capital to start their venture, a win-win situation.
The application allows them to check the ratings of organizations that need the credit. Mintos rates every company with a grade based on their credit history. Higher the score, the higher are the chances that you get your investment back with interest safely.
Coming to the point of how the system works and what all options a user has, stay tuned —. Mintos acts as a middleman and allows users to invest in various types of loans, which include car loans, house loans, mortgage loans, personal loans, and even business loans. This provides an excellent opportunity for investors to widen their portfolio.
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