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FINANCE MEETS TECHNOLOGYBUILDING A FINTECH STARTUP
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whoami?
Mārtiņš Eglītis
CTO @ Mintos, www.mintos.com
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Why Mintos
● Made in Latvia● Operating in whole
Europe● ~20 employees
(about a half in IT)
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Agenda
● Business idea and challenges● Technological challenges
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Mintos is a peer-to-peer lending marketplace
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Sharing Economy
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Mintos Presence
● 9000 investors from 40 countries○ Currently mainly retail ○ Some institutional
investors● 12 loan originators from 6
countries
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Mintos Presence
● Loan products○ Business loans○ Mortgage loans○ Personal loans○ Secured car loans○ Secured business loans○ Invoice financing loans○ Agricultural loans
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Strong early traction
Total loans funded (cumulative)48M EUR
200K EUR 3M EUR
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Mintos closes 2 million euro seed funding round
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First business model● All loans are secured by real
estate and issued by Mintos● Latvia first, then new countries
would be added● Marketing activities to attract
borrowers
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Traditional p2p lending
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Marketplace model
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Technology challenges
● Moving from MVP to IS○ Maintenance (monitoring, infrastructure)○ Quality assurance○ Deployments
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Standards
● “Finanšu un kapitāla tirgus dalībnieku informācijas sistēmu drošības normatīvie noteikumi”
● OWASP Testing Guide
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QA
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QA
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QA
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Selenium IDE
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Scrum
vs
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Takeaways 1
● Business model isn’t static● Fintech is full of opportunities to change
market segments
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Takeaways 2
● Automatic QA is easy to start● Don’t overcomplicate development processes● Monitor everything