Mintos, the multi-asset 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 the cautious approach of local investors.

Mintos Expands to Czech Republic, Tapping into Growing Investment Market

Founded in 2015, Mintos has attracted over 500,000 users across Europe and currently manages more than 600 million euros in assets under administration. The MiFID-authorized platform offers a blend 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 Czech citizens 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.

"These insights reveal a cautious approach to investing among Czechs. This underscores the importance of offering investment options that align with their risk tolerance and investment goals,” Martins Sulte, CEO and co-founder of Mintos, commented.

Sulte emphasized 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, providing simple 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 complement 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 investments in loans and later expanded its range to include more instruments and asset classes, also received authorization from the Latvian financial watchdog a few years ago. However, the official European rollout only took place this year, beginning with the German, Spanish, and French markets.

Revenue Increased by 32% in a Year

A few months ago, Mintos published its annual report for 2023, shedding considerable light on the financial health of the fintech company. Last year, revenues reached €11.1 million, marking an increase of over 30% from €8.4 million reported in 2022. Consequently, the total comprehensive profit reached €1.05 million, doubling from €529,000 the previous year.

"In 2023, we continued to make significant investments in IT systems with a total investment of EUR 1.810 million, compared to EUR 1.404 million in 2022," the company commented in the report.

The report also showed that the number of managed assets increased by 35% annually, similar to the number of registered users. On average, Mintos acquired 3,000 new clients per month.