Berlin fintech start-up Myos has raised 10 million euros in investment money.
Myos specializes in providing retail merchants with working capital to keep deliveries flowing, expand their assortment of products and grow more quickly. In return retailers promise to sell their products on online marketplaces like Amazon and Alibaba so that they can be evaluated by a proprietary disruptive, risk-scoring model.
“Instead of the merchant, we only use the commercial products as a benchmark for financing,” Myos co-founder and CEO Nikolaus Hilgenfeldt told the online magazine EU-Startups. “We analyze and monitor the sales potential in real time. With this approach, we are completely rethinking the provision of working capital for merchants.”
Myos plans to use its own latest capital infusion to further develop its platform, particularly its AI scoring technology.