Loan investment platform, Mintos, announced on Tuesday that it has become ‘the largest European company to raise on Crowdcube’, both in terms of the amount raised the number of investors that participated.
Reaching €1 million within 15 minutes of the campaign opening, Mintos set another record by hitting €3 million in just over two hours, and €5.3 million from 4,600 investors within the first day. The company added that the current campaign is still open to members of the public, and constitutes one part of its wider fundraising round planned with venture capital firms next year.
“We are thrilled to have such a response from our community,” said Martins Sulte, CEO and Co-Founder of Mintos. “This result is a huge endorsement of our vision and it goes to show how strong the relationship with our community is. We are looking forward to having our newly joined shareholders aboard and continuing our growth plans. However, this is just the beginning as today we are opening the campaign to the public and continuing to crowdfund. After such validation by our own community, we are very excited to see what the next stage of crowdfunding has in store for us.”
Prior to its premier Crowdcube round, Mintos had raised €7 million from angel investors, and since its launch in 2015, it claims to have ‘almost single-handedly’ built up the market of European loan investment to €6.6 million – of which it holds a 45% stake.
The company finished its statement on Tuesday by saying: “Mintos has witnessed an unprecedented growth during the last few years thanks to the great product-market fit. There is still a huge market opportunity ahead of the company, with retail investors in the EU alone holding investments worth €7 trillion and the global crowdlending market expected to grow at a compound annual growth rate (CAGR) of 29.7%, from €57 billion in 2019 to €472 billion by 2027.”