After its recent launch in the Czech Republic, the investment platform Mintos is now entering an even more challenging European market, where only one in five people actively invests. The provider aims to encourage the Portuguese, who primarily keep savings in bank accounts or real estate, to take a more active approach to managing their finances.

Mintos Expands European Footprint with Launch in Portugal

A recent survey by the local National Council of Financial Supervisors on financial literacy in Portugal revealed that only 5.2% of people actively invest in stocks and bonds. The majority of Portuguese families, about 84%, keep their money in current accounts, while approximately one-third use term deposits.

Moreover, a separate European Central Bank (ECB) study revealed that Portuguese people lack trust in the investment market and choose to accumulate wealth in the real estate market, including land and their own homes.

Founded in 2015, Mintos intends to change that, and its history so far suggests that the fintech may be able to do so. The investment firm already has over 500,000 clients in Europe and, as a MiFID-authorized platform, it currently administers more than €600 million in assets.

“In analyzing these results, the heavy reliance on owned real estate assets in Portugal and the low engagement with financial instruments indicate an opportunity for diversification,” said Martins Sulte, CEO and co-founder of Mintos. “Mintos is designed for investors who seek to steadily grow their portfolio over time, using automated tools and a range of multi-asset options to help investors diversify their portfolios wisely.”

Mintos Expands to the Czech Republic

The expansion into Portugal follows Mintos' successful launches in several other European Union countries. Last week, it announced its entry into the Czech market, where significantly more people invest. Recent surveys have shown that nearly every other Czech invests at least some of their income.

Mintos offers a variety of investment options, including loans, bonds, ETFs, real estate, and a product called Smart Cash.

“We're excited to continue introducing diverse investment options on our platform to new regions,” Sulte added. “Our goal is to make investing accessible to all levels of investors, providing simple ways to diversify portfolios with both traditional and alternative assets.”

Previously, the company also obtained licenses to operate in Lithuania, but it began offering its services initially in the German, Spanish, and French markets.

A few months ago, Mintos released its annual report for 2023, which provided detailed insights into the financial performance of the fintech company. Last year, it recorded revenues of €11.1 million, an increase of over 30% from €8.4 million in 2022. As a result, the total comprehensive profit for the year climbed to €1.05 million, up from €529,000 the previous year.