Fintech company Mintos launches Baltic Sea environmental fund

Latvian Fintech company Mintos said April 15 it is launching the "Mintos Impact Fund", the first initiative of which will be cleaning up the Baltic Sea together with Pasaules Dabas Fonds (the local associated partner of WWF) and WWF Deutschland.

he aim is to supports the protection and preservation of the Baltic Sea's marine ecosystem and together with investors, Mintos says it will crowdfund 100 000 euros to donate to the project.

Mintos CEO and Co-Founder Martins Sulte said: “We believe it’s about time that startups also step up and do something for the environment. Mintos has a strong base of cognisant and critically thinking customers - investors who see the need to do their part in preserving our world - that’s what lets us join together in this environmental sustainability initiative and do good together. Our first project - supporting the Baltic Sea's marine ecosystem - is also symbolic of where the majority of our investors', as well as our company's roots are from.”

Baltic Sea and Freshwater Program Manager at Pasaules Dabas Fonds, Elza Ozolina said: "We are pleased to see that the interest in environmental protection grows within the Baltic region. Cooperation with Mintos indicates that the new generation of young, fast-growing tech entrepreneurs are entering the arena with a clear sustainable development vision both locally and internationally. We are happy to be the partners of the Mintos Impact Fund debut project."

The goal of the Mintos Impact Fund’s first project is to raise EUR 100 000 for Baltic Sea preservation by the time the company marks the milestone of three billion euros funded in loans. With investors funding almost EUR 200 million of loans each month, Mintos expects to reach that target by September 2019. The funds will be crowdfunded together with more than 125 000 Mintos investors with Mintos participating with its share to reach the EUR 100 000 goal.

Funds will be allocated to Baltic Sea sustainability projects - to support the preservation of the endangered Baltic Sea and its coasts framing the sea including Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Poland, Russia and Sweden.

LSM interviewed Mintos' Martins Sulte last year about his fast-growing company.

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