Myos allows merchants to pre-finance their products and deposit them as security. The fintech analyses the merchants sales history and to minimise the risk of non-success it can sell the goods itself in the event of failure. The new investors include the funds Xploration Capital and Fasanara Capital.
According to a Myos representative, the company wants to continue to scale with the money and reach countless small retailers. The company is also looking to expand to Great Britain, where people are more open to credit products than in Germany, but the competition is also greater, as a Myos representative states.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now