According to the Finance Magnates, 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.
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.
