Myos brings easy, flexible asset-based finance to small and medium-sized online sellers. Instead of looking at the borrower level, Myos evaluates credit risk based on the sales potential of e-commerce products, using a proprietary machine-learning scoring system. With this model, they can serve the long tail of over 90% of small merchants who struggle to raise working capital from lenders relying on traditional trust-based credit models. The financing amount is from $10k to $2m based on existing inventory and new orders, with flexible repayment and without personal guarantees. Myos started the business because a friend of the founders struggled to get funding for his Amazon business from traditional lenders, even though his products had great listings and sales records. Myos is challenging the risk model of traditional lenders, and they do it better than anyone currently in the market. So far they have paid out over $100m, with an excellent net loss rate of less than 1%. They started in 2018 and have been growing rapidly in Europe. With stable growth and an expanding portfolio, they are now preparing to launch in the US market.
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