In the beginning there was a befriended retailer who had difficulties to raise working capital for the growth of his online shop - despite good figures and visibility on Amazon.
Most banks or fintechs evaluate according to classical risk metrics instead of focusing on the products and their sales potential. What was missing was a solution that would meet the requirements of fast-moving online business and break new ground in risk assessment.
Shortly afterwards, at the beginning of 2018, Myos was founded: The world's first product-backed financing for merchants.
Our management team has over 40 years of experience in finance, tech and company building. With Myos as the world's first global product-backed working capital provider, we are now breaking new ground together. We are using our disruptive, AI-based risk-scoring model as the cornerstone for this.
We are a team of 30 colleagues who work with great commitment and passion every day to become even faster and better for you. We are a motley team with many different backgrounds and levels of experience. From working students to the "founding grandfather", everything is represented. And this is exactly what makes a fast-growing company like Myos, because this is the only way we can react agilely to changes and uncertainty in the market and use our expert knowledge and ideas to lead Myos and our customers to success!
• March 18: Myos is launched
• July 18: Go-Live with the Deutsche Handelsbank > first Loan in Germany
• October 18: First Loan in Austria
• December 18: Launch of the Myos Merchant Portal
• February 19: Go-Live Myos 2.0 with the Raisin Bank and a more flexible credit model
• Juni 19: Full digital KYC process
• October 19: First Myos Meetup with Christian Otto Kelm
• December 19: Financial statements 2019 with over 450% growth compared to the previous year
• April 20: more flexible method of payment e.g. directly to the supplier
• August 20: New support portal clarifying questions surrounding Myos
• September 20: Winner of the FinTech Germany award in the category Early Stage
• September 20: Digital signing of contracts is possible
• October 20: New website