The concept behind Myos stems from a befriended merchant who had difficulties raising 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 afterward, at the beginning of 2018, Myos was founded: The world's first asset-based finance for online sellers.
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 50 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. 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: Myos is launched
• July: Go-Live with Deutsche Handelsbank > first Loan in Germany
• October: First loan in Austria
• February: Go-Live Myos 2.0 with the Raisin Bank and a more flexible credit model
• October: First Myos Meetup with Christian Otto Kelm
• December: Financial statements 2019 with over 450% growth compared to the previous year
• April: more flexible method of payment e.g. directly to the supplier
• August: New support portal clarifying questions surrounding Myos
• September: Winner of the FinTech Germany award in the category Early Stage
• February: 1,000th loan signed
• March: Closing of Series A financing round for €25 million
• August: First loan in Estonia
• September: Launched financing of stock in the USA
• March: First loan in the United Kingdom
• April: Senior funding extension to 50m€
• July: Summer retreat in Austria with 35 Myos team members
• October: Record monthly loan sales of 9.5 m€ with 162 loans
• March: Began collaborating with OFX and Shopware to expand ecommerce solutions
• April: New app feature highlighting 30+ partner offers to our customers; Myos celebrates its 5th anniversary
• June: Finalists for Mastercard's Central European Fintech Forum in Berlin (we are one of six finalists selected from previous events held in Athens, Berlin, and Prague)