Fintech
Fintech Mintos targets cautious Czech investors in latest European push
Mintos, the
multi-activity investment platform, announced its official launch in the Czech Republic today (Thursday), marking the latest step in its European expansion strategy. The move comes as the company seeks to capitalize on growing investment interest in the Czech market, while addressing a cautious approach from local investors.
Founded in 2015, Mintos has attracted over 500,000 users across Europe and currently manages over €600 million in assets under administration. The MiFID-authorised platform offers a mix of alternative and traditional investment options, including loans, bonds, ETFs, real estate and a cash management product called Smart Cash.
Recent surveys indicate that 38% of Czechs currently invest part of their earnings, reflecting a growing interest in wealth-building strategies. However, the data also reveals a tendency among Czech residents to avoid high-risk investments, with women twice as likely as men to abstain from investing altogether.
Martins Sulte, CEO and co-founder of Mintos
“These insights reveal a cautious approach to investing among Czechs. This underscores the importance of offering investment options that are in line with their risk tolerance and investment goals,” commented Martins Sulte, CEO and co-founder of Mintos.
Sulte highlighted the platform’s focus on long-term passive investing as a key differentiator in the Czech market. “Our goal is to make investing accessible to all levels of investors by providing easy ways to diversify portfolios with both traditional and alternative assets,” he said.
Stocks, bonds and precious metals are the most popular investment options among Czech investors. Mintos aims to integrate these preferences with its investment products, allowing retail investors to consolidate portfolios and manage long-term investments from a single platform.
For Mintos, this is one of the next licenses obtained in Europe. The platform, which started with lending investments and later expanded its range to include more instruments and asset classes, has also received Authorization by the Latvian Financial Supervisory Authority a few years agoHowever, the official European launch only took place this year, starting with the German, Spanish and French markets.
Revenue increased 32% in one year
A few months ago, Mintos released its annual report for 2023, shedding considerable light on the financial health of the financial technology company. Last year, revenues reached 11.1 million euros, marking an increase of more than 30% compared to the 8.4 million euros recorded in 2022. As a result, overall total profit reached 1.05 million euros, doubling compared to the 529,000 euros recorded in the previous year.
“In 2023, we continued to make significant investments in IT systems with a total investment of €1,810 million, compared to €1,404 million in 2022,” the company commented in the report.
The report also showed that the number of assets under management increased by 35% per year, similar to the number of registered users. On average, Mintos acquired 3,000 new customers per month.
Mintos, the
multi-activity investment platform, announced its official launch in the Czech Republic today (Thursday), marking the latest step in its European expansion strategy. The move comes as the company seeks to capitalize on growing investment interest in the Czech market, while addressing a cautious approach from local investors.
Founded in 2015, Mintos has attracted over 500,000 users across Europe and currently manages over €600 million in assets under administration. The MiFID-authorised platform offers a mix of alternative and traditional investment options, including loans, bonds, ETFs, real estate and a cash management product called Smart Cash.
Recent surveys indicate that 38% of Czechs currently invest part of their earnings, reflecting a growing interest in wealth-building strategies. However, the data also reveals a tendency among Czech residents to avoid high-risk investments, with women twice as likely as men to abstain from investing altogether.
Martins Sulte, CEO and co-founder of Mintos
“These insights reveal a cautious approach to investing among Czechs. This underscores the importance of offering investment options that are in line with their risk tolerance and investment goals,” commented Martins Sulte, CEO and co-founder of Mintos.
Sulte highlighted the platform’s focus on long-term passive investing as a key differentiator in the Czech market. “Our goal is to make investing accessible to all levels of investors by providing easy ways to diversify portfolios with both traditional and alternative assets,” he said.
Stocks, bonds and precious metals are the most popular investment options among Czech investors. Mintos aims to integrate these preferences with its investment products, allowing retail investors to consolidate portfolios and manage long-term investments from a single platform.
For Mintos, this is one of the next licenses obtained in Europe. The platform, which started with lending investments and later expanded its range to include more instruments and asset classes, has also received Authorization by the Latvian Financial Supervisory Authority a few years agoHowever, the official European launch only took place this year, starting with the German, Spanish and French markets.
Revenue increased 32% in one year
A few months ago, Mintos released its annual report for 2023, shedding considerable light on the financial health of the financial technology company. Last year, revenues reached 11.1 million euros, marking an increase of more than 30% compared to the 8.4 million euros recorded in 2022. As a result, overall total profit reached 1.05 million euros, doubling compared to the 529,000 euros recorded in the previous year.
“In 2023, we continued to make significant investments in IT systems with a total investment of €1,810 million, compared to €1,404 million in 2022,” the company commented in the report.
The report also showed that the number of assets under management increased by 35% per year, similar to the number of registered users. On average, Mintos acquired 3,000 new customers per month.