Berlin-based fintech start-up Myos secures €25M for its AI-based lending platform facilitates quick and flexible financing to restrict retailers from experiencing bottlenecks, enabling them to expand their assortment and progress notably faster.
Secured € 25 Million
Led by Fasanara Capital and Xploration Capital, the corporate has acquired €25M funding in Sequence A spherical quite recently. Each fund with a profound understanding and expertise of digital lending. Investors seen to have further participated in the round were Tomahawk.VC also a class of new and subsisting investors.
Nikolaus Hilgenfeldt and Benjamin Schickert commenced Myos in 2018, bringing business expertise from administration orientation at Lendico/ING, Allianz, Morgan Stanley, Roland Berger, and others.
The Berlin-based start-up, Myos, additionally helps them with their growth segment. The place retailers benefit from maximal flexibility because of its collateral-based compelling compensation system. Myos serves retailers of their start-up section, the site they’re often deemed as unbankable by various financiers.
Purpose of the Investment
The start-up intends to use the funding to improve its existing buyer base in Europe, advance the worldwide market, and form its AI-based lending platform.
What the CEO has to say
Co-founder and CEO of Myos, Nikolaus Hilgenfeldt, says, “We’re a step ahead of run-off-the-hill lenders, as an outcome of which we necessitate a peek at the retail merchandise, not the retailers. With Myos, retailers can directly procure loans of as much as 1,000,000 Euros, without advanced project designs or individual guarantees which are sometimes not obtainable within the start-up section”.
Hiring and Future Plans
“Our foremost priority is further enhancing the scalability and quality of automation of our lending program. Concurrently, we’re outlining the roadmap for internationalisation. The Netherlands is a rather attractive market for two reasons: An exceptional e-commerce market and an affirmative regulatory ecosystem for FinTechs and SME lenders. This distinguishes the Netherlands as a prominent nominee for a beachhead market,” as Hilgenfeldt concludes.
As for now, the start-up operates with 30 folks and is hiring throughout various designations.
The CEO shares, “We’re currently a team of 30 and hiring in all capabilities, specifically builders, danger managers, account managers, and portfolio managers. For a framework of open positions, view https://www.myos.com/en/career additionally.”
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