Mintos is the biggest P2P conglomerate in Europe. Mintos has over 2.5 billion invested in its loans since 2015, with more than 145,000+ investors from 70 countries. At the current time of writing, an investor could choose from over 735,000 loans from over 60 loan originators throughout the world. Luckily to deal with the sheer volume of loans Mintos has released Invest & Access.
What Is Invest & Access?
Invest & Access works in a similar fashion to the automatic investment tool that is currently offered on Mintos. However, unlike the automatic investment tool, Invest & Access will automatically select loans:
- with a rating of A+ to C-
- that have buyback guarantees available
- from originators that have been on the platform for at least 6 months
- from many different originators (i.e. diversification).
What is the benefit of Invest & Access?
Oh, I forgot to mention the best part. You can cash out at any time!
There is no waiting for loans to be sold on the secondary market. You can just click sell. All loans that are currently up to date with payments will be automatically sold to other investors in the Invest & Access group. If you have a loan that is “late” for payments, these will only be sold once they recover, or the buyback covers the amount. If the Mintos marketplace experiences abnormal conditions (i.e. global recession), it may take longer to receive your money.
Other benefits of Invest & Access include:
- no fees (always good)
- an average return estimated at 11.75%
- all loans have buyback guarantees
- automatic reinvesting
- daily rebalance
- full diversification across most of the marketplace (i.e. 60+ loan originators from around the world)
Competition – Bondora Go & Grow
Mintos was not the first platform to introduce a tool allowing investors to automatically grow their P2P income, and withdraw when they like. Bondora, a competitor to Mintos, released their Go & Grow product a few months earlier (review of Go & Grow can be found here).
There are a few main differences between the products, which I have shown in the table below:
Mintos Invest & Access vs Bondora Go & Grow
|Invest & Access||Go & Grow|
*Instant access for both platforms is based on normal market conditions. If there is a recession and everyone wants their money at the same time, it’s likely that you will get left with nothing.
**Loans through Invest & Access may not be paid out instantly if they are marked as “late”. In that case, you will receive the money once the loan has been repaid, or the buyback has been provided.
Invest & Access Review
Initially, I was upset with Mintos as it was one of two platforms in my profile that I was seeing a lot of unpaid loans coming through. However, their new automatic investment tool has filled me with a bit more confidence. There will be some late payments, but having a daily rebalancing feature, makes me more confident to get the returns that I expect. However, time will tell.
I have already moved my available cash in Mintos into my Invest & Access portfolio, and I have set all future deposits into there as well. I would also suggest that if you are interested in Mintos to definitely have a look at the new automatic investment tool. Loans through Mintos are offered first through the Invest & Access, then through the Auto-invest tool, then through the primary market.
You could face issues getting your money back if there is a recession or other mass exodus event, however, isn’t that the same with all P2P platforms? That’s one of the reasons that they are so high risk!
You can find out more about Invest & Access on the Mintos webpage here.
Have you used Invest & Access yet? Have you had a good or bad experience? Let me know in the comments.