Growth in the last 12 months
First contract signed
Loans in total
Running out of stock has always been the biggest hurdle for Wolfgangs — the company didn’t have enough capital to purchase sufficient inventory to meet the seasonal demand. After facing a low stock level before the Black Friday and losing potential sales (300-400% compared to summer sales), they started looking for external ways of financing.
“We learned that bootstrapping is a decent strategy in the beginning, but if you want to grow - you absolutely need other financing sources”, says Philipp.
With Myos inventory financing, Wolfgans were able to solve the insufficient capital issue and place larger orders when they needed it, especially before the summer and holiday seasons. Compared to loans with traditional banks where you need to submit countless documents, the process with Myos was quick with financing coming through in a week. Since 2020, Wolfgangs has become one of the oldest and biggest Myos customers.
“Myos is now the strongest partner in my financing structure and without your straightforward process I would not be able to grow the way I plan to grow with you. Next year, with your help, we can continue to grow up to 80% without new major product launches, with over 10% EBIT on €5-6m revenue in 2023. ”
“We were able to achieve much more flexible financing and liquidity. When we need goods, we simply buy them for free and can plan our cash flow very well. Since we started using Myos, we were able to have sufficient stock and reduce our OOS phases significantly”.