Investment Platform Mintos Seeks Bank License
Mintos, a European multi-asset investment platform, has initiated the process to obtain a banking license from the European Central Bank (ECB). The company stated that becoming a licensed credit institution would strengthen its market position and expand its product offerings. The move reflects a broader trend of established fintechs seeking to become regulated banks.
- This move builds on the investment firm and electronic money institution licenses Mintos secured from Latvia's Financial and Capital Market Commission (FCMC) in August 2021. These licenses already allow it to operate across the EU under MiFID II regulations, and the platform is supervised by Latvijas Banka, Latvia's central bank. - The process to obtain a full banking license from the European Central Bank is expected to take approximately 12 to 18 months. This would represent a significant strategic evolution from its 2014 origins as a peer-to-peer lending marketplace. - A banking license would allow Mintos to offer a wider range of integrated financial products, potentially including dedicated accounts and more seamless payment transactions, positioning it to compete more directly with established banks. - Founded in Riga, Latvia, by CEO Martins Sulte and Martins Valters, the company has grown to over 180 employees with offices in Riga and Berlin. Sulte has a background in investment banking with SEB. - As of early 2026, the platform has over 600,000 registered users and more than €800 million in assets under management. Since its inception, it has facilitated over €12.3 billion in total loan investments. - The company's revenue reached €12.4 million in 2024, a 9% increase from the previous year, driven by diversification into new asset classes like bonds, ETFs, and real estate. - Mintos has a history of successful fundraising, including a 2020 crowdfunding campaign that raised €6.5 million, the largest in continental Europe at the time, and another €3.1 million raised via Crowdcube in 2024. - The platform provides investment opportunities in loans from over 60 lending companies across more than 30 countries, offering diversification for retail investors.
