Been a while since an update, and everyone likes round numbers right? My Mintos account just hit 10 000 euros interest + late fees + cashback + secondary market earnings, so a nice milepost to hit.
So, overall, how’s it been? Some highs and lows – no more high value cashback campaigns, then there was an interest rate slump for a while, then a huge spike – could get good quality loan originator loans that were listed at 15% and 16%. Now slowly being pushed back to 12%, so still, you have to keep an eye out on what is happening on the market.
Overall, 3,5 years in, cannot complain about returns. Currently Mintos functions somewhat as a liquidity buffer for my portfolio. Any free money currently not invested sits there, for a while it ballooned to about 50K, currently at 35K and as I have an equity investment coming up, it will drop to about 25K for a while.
More and more originators are joining, but I don’t see all that much reason to diversify that much more. I have 4 somewhat local originators represented which are big and have a solid track record, so I have faith in them not failing. With some loan originators having left from the platform and some issues with Polish originators it seems, there is really no need to go hunting for maybe slightly higher returns with much higher risk. A few more originators I’m willing to invest into, but they haven’t added loans at rates I’d be interested in at the moment. For a while I had about 8 originators represented.
Only downside currently – for a while there was an interest war, where you could pretty much just set an autobidder and sleep, then now the auto invest is somewhat broken due to, what seems to be, overload from the Invest & Access product, so have to spend time manually checking the market for loans every now and then.
Honestly a bit surprised though that the 12%+ interest rates are still going, I would have expected them to drop some more, since Mintos’s history is getting longer and the volumes keep getting bigger, but communication issues are still a thing (the AML issues some users had, somewhat too little detail on the Aforti case,) and since the addition speed of originators seems to be exceeding the amount of money investors can invest, then seems like there will still be good returns to be had.