Since Mintos has once again opened up their refer-a-friend and more people are looking for info on Mintos experiences, then I thought I’d do an update on my Mintos portfolio. For the first two years Mintos was mostly a small part of my P2P investments. Solid, but there were other alternatives I preferred (Omaraha at the time).
As time went on, Omaraha became less attractive due to lower returns and Mintos much more interesting due to cashback being offered. Since I sold my rental apartment and needed an option to invest the money short term, then for the last 6 months Mintos has been the biggest part of my portfolio.
This is the chart of my interest returns across two years – you can clearly see the *bump* from when I added in the money from the sales of the apartment and when I started to trade more actively on the secondary market (cashback being offered also offered bigger volumes for the secondary market).
This as stated is interest returns – interest + late fees. This chart does not show cashback returns, which aren’t really repeatable at this point – since no campaigns are running, but cashback has effectively helped this year’s Mintos returns hover at about a 20% return. Cashback rewards + secondary market profits together are almost as big combined as all of my interest returns.
Overall, I’d say Mintos has definitely surprised me in a positive way when it comes to their growth rate and the pace at which they add loan originators. While I can’t keep my portfolio at this level for much longer since I need to cash out from some investments, but I feel comfortable having a significant amount of money invested with them.
Overall the only small issues I have with them are 1) it’s still somewhat slow to deposit money (some hassle with them switching providers as well), 2) maybe sometimes slow on updates (such as Eurocent case) and 3) somewhat difficult to assess originators for an investor (I only invest in a handful of the 40) and 4) at times customer service struggles with more complex questions. Most of these are fixable issues though.
Other than that, they’re more transparent than most P2P portals, sharing relevant info (yearly report) which should interest all investors, and as they are profitable I feel that a lot of risks are mitigated by that. No big issues so far over the 2,5 years I’ve invested with them.