Automatic Invest III - Industrial Automation Expansion

1. Executive Summary

Automatic Invest S.R.L., the Romanian company behind automatic.ro, has supplied industrial automation components and developed technical solutions for 17 years. The investment supports its national expansion through a depot, showroom and shop in Bucharest, alongside working capital, stock replenishment and digital infrastructure. The Bucharest premises are fitted out, stocked, open and already recording sales. Investors therefore participate in the financing of an operating business with an established base in Iasi and a new commercial presence serving southern Romania.

The company combines distribution of pneumatic, mechanical and electrical components with CNC machining, custom equipment manufacturing and automation integration. Its catalogue contains more than 7,000 products, and reported turnover reached EUR 1,223,069 in 2025, compared with EUR 372,875 in 2016. The next stage is to develop sales and service from the Bucharest location and support the working-capital cycle across both locations. The physical expansion has already been pre-financed; this offer replaces part of that interim financing, as explained in Section 6.

Investment features:

• An operating Romanian business: 17 years of trading history, a physical presence in Iasi and Bucharest, and an existing online distribution channel.
• An operational expansion: the Bucharest showroom is already open, stocked and trading; growth in sales and cash generation remains an operating objective, not a guaranteed outcome.
• Monthly interest: a contractual annual rate of 10.00% to 16.00%, depending on the amount invested and fixed at signing. Examples under the published ladder are 11.00% for EUR 1,000, 12.00% for EUR 2,500 and 12.75% for EUR 5,000. The maximum rate does not apply to every investment.
• Registered first-rank real-estate security: the completed Technology Transfer Centre in Bratuleni has an independent market valuation of EUR 1,030,000. Against the approximately EUR 450,000 total secured platform facility, this gives 43.69% LTV and 229% collateral coverage.
• Company repayment obligation and additional mortgage security: the loan is an obligation of AUTOMATIC INVEST S.R.L.; enforceable loan and security instruments support recovery within the applicable legal procedures.

The term is 24 months, with principal repaid in one instalment at maturity and no investor-facing platform fees or cashback. The repayment plan, confirmed by the platform on 5 October 2026, relies primarily on cash generated by ongoing operations for interest and accumulated liquidity for principal; bank refinancing is an alternative. The collateral is a recovery resource, not the ordinary payment source. Capital and interest remain at risk, including from insufficient operating cash flow, limited liquidity and collateral enforcement. The funding structure and full risks are set out in Sections 6 to 8.

2. Location Analysis

The collateral and the company's headquarters are located in the village of Bratuleni, Miroslava commune, Iasi County, Romania, within the Miroslava Industrial Park. The site sits in the Iasi metropolitan area, which comprises the city of Iasi and 19 neighbouring communes and had an estimated functional urban population of 507,775 inhabitants as of 1 January 2018 according to Eurostat, making it one of the largest urban agglomerations in Romania.

Miroslava is one of the founding communes of the Iasi metropolitan association, established in 2004, and has been among the fastest-developing localities in the county. The industrial park hosts manufacturing and distribution operators and offers the fiscal framework applicable to industrial parks under Romanian Law 186/2013. Access to the property is from the county road DC27A. The site is connected to natural gas, electricity, municipal water and public sewerage, and is served by public bus transport.

Iasi is the principal economic centre of the Moldova region, with a concentration of technical universities, including Universitatea Tehnica Gheorghe Asachi, and a growing industrial and IT base. For an industrial distribution business, this positions the Bratuleni site within reach of the region's manufacturing customer base, while the Bucharest location extends coverage to the south of the country.

3. Developer Profile

Automatic Invest S.R.L. is a Romanian limited liability company registered on 18 May 2009 under registration number J22/960/2009, tax identification code RO25566189. It is wholly owned by a single shareholder, who is also the sole administrator, with an unchanged ownership and management structure since 2016. Subscribed and paid-up capital is RON 500,000.

The company operates under the automatic.ro brand and a second domain, pro-cnc.ro. Its business model is mixed: it acts as an importer and distributor of industrial components, as a manufacturer of its own equipment, and as an integrator of automation solutions. The company states that it sells in its own name and does not operate as a commission-based marketplace listing third-party products.

Operational profile:

• 17 years of trading history under the current legal entity
• 14 employees (2025 average), up from 9 in 2019
• Product catalogue of over 7,000 items across pneumatic, mechanical and electrical components
• Physical store and showroom at the Bratuleni headquarters, alongside the online channel
• Imports from China and Vietnam; distribution partnerships including HIWIN, LS Electric, TBI Motion, Rexroth, JELPC, EMAS, Rtelligent and WON
• Recurring public-sector sales through the Romanian public procurement system (SICAP), with contracts awarded to national research institutes, universities, water utilities and transport operators through July 2026
• In-house CNC machining, metal fabrication, assembly and commissioning of custom industrial equipment

In November 2025 the company opened the Automatic Industry Technology Transfer Centre at the Bratuleni site, developed as a European-funded project alongside private partners and Universitatea Tehnica Gheorghe Asachi Iasi. The company states that the centre is officially accredited in the information and communications technology field and listed in the national register of innovation and technology transfer infrastructures.

Turnover has grown in every one of the last ten reported years, from EUR 372,875 in 2016 to EUR 1,223,069 in 2025, a 3.3-fold increase.

• Business financed: distribution of industrial automation components, technical integration and custom equipment activity under automatic.ro.
• Bucharest milestone: premises fitted out, stocked and open, with sales already started, as confirmed by the platform on 5 October 2026.
• Commercial purpose: local stock and a physical sales and demonstration point to serve customers in southern Romania, complementing the Iasi base and online channel.

Credit history

The CRC report issued on 5 September 2026 shows arrears that were low relative to total exposure at 31 July 2026, with delays of no more than 30 days at that date: RON 86,253, approximately 1.27% of the RON 6,779,017 total amount owed reported in CRC. Of this amount, RON 52,199 was overdue by up to 15 days and RON 34,054 by 16–30 days. The history covers 31 August 2019 to 31 July 2026 and includes RON 15,866 in the 31–60-day delay category at 30 June 2026. These are historical positions; subsequent settlement and the current balance require updated evidence.

4. Project Overview

National expansion: Bucharest location and working capital

• Business financed: distribution of industrial automation components, technical integration and custom equipment activity under automatic.ro.
• Bucharest milestone: premises fitted out, stocked and open, with sales already started, as confirmed by the platform on 5 October 2026.
• Commercial purpose: local stock and a physical sales and demonstration point to serve customers in southern Romania, complementing the Iasi base and online channel.
• Working capital: support for inventory availability, procurement and the collection cycle across the existing and expanded business.
• Existing investment: fit-out, equipment, logistics tools, recruitment, commercial promotion and digital systems formed part of the pre-financed expansion.
• Next operating stage: develop customer demand, stock turnover and cash generation from the open location. Opening does not itself establish future sales volumes or profitability.

Completed property securing the loan

The asset serving as collateral is the Automatic Industry Technology Transfer Centre, a purpose-built industrial and commercial building completed in 2025.

• Address: Str. Mihail Sadoveanu no. 36, Bratuleni village, Miroslava commune, Iasi County, Romania
• Land registry: building recorded under CF 85828-C1 Miroslava, cadastral number 85828-C1; land recorded under CF 85828, cadastral number 85828
• Building configuration: ground floor plus partial first floor (P+1E)
• Footprint: 990 sqm at ground level
• Gross built area: 1,738.2 sqm
• Usable area: 1,580.8 sqm
• Parking: 10 spaces
• Plot: 2,000 sqm, fully enclosed

Internal configuration:

• Production hall of 645.9 sqm with overhead travelling crane
• Showroom of 82.4 sqm
• Conference room of 98.7 sqm
• 12 offices across both levels
• Storage areas, technical rooms and sanitary facilities

Technical specification:

• Reinforced concrete structure with masonry and AAC infill
• Non-accessible flat roof with bituminous membrane
• PVC joinery with thermal insulating glazing
• Dual heating system: natural gas boiler plant combined with heat pumps
• Underfloor heating throughout
• Photovoltaic panels installed on the roof
• Connections to natural gas, electricity, mains water and public sewerage
• Epoxy flooring in the production area, ceramic tiling in offices and technical rooms

Regulatory and completion status:

• Building permit no. 338 of 17 June 2022, issued by Miroslava Town Hall
• Certificate of construction completion no. 102020 of 25 November 2025
• Works acceptance report no. 87634 of 18 November 2025
• Registered in the land book at 100% completion on 2 December 2025
• Energy performance certificate issued in October 2025
• Technical condition assessed as very good by the independent appraiser, with no defects identified and no seismic risk classification

Title structure. The company holds full freehold ownership of the building, recorded in its own land book (CF 85828-C1), at a 1/1 share. The underlying 2,000 sqm plot is owned by Miroslava Commune within its private domain, not its public domain, and is administered by Miroslava Industrial Parc S.R.L. Automatic Invest holds two registered real rights over the land: a 49-year right of superficies established by notarial deed no. 2237 of 27 September 2023 and registered on 28 September 2023, and a 49-year concession right registered on 31 July 2020. Both are recorded in the land book. The right of superficies has approximately 46 years remaining.

Mortgage agreement reviewed

The agreement authenticated under no. 1918 dated 7 September 2026 establishes the mortgage in favour of STOCKESTATE CROWDFUNDING S.R.L., as Security Agent, over ownership of building C1 (land book 85828-C1 Miroslava) and the superficies right over the 2,000 sqm plot (land book 85828). The secured amount is EUR 675,000, covering principal of up to EUR 450,000 and ancillary obligations within the agreement's terms. This secured amount is not the property's market value and does not replace the LTV valuation basis.

Clause 3.11 expressly states that the agreement is an enforceable instrument. Clause 4.6 records second rank at inception, becoming first rank following cancellation of the Rocredit IFN S.A. mortgage. Current first rank is stated on the basis of the platform's confirmation of subsequent cancellation; the signed agreement alone does not establish that cancellation occurred. Clause 3.6 extends the benefit of the security to assignees or persons legitimately becoming parties to the loan agreements, subject to its terms.

Cancellation of the prior mortgage: in the declaration authenticated under no. 465 dated 1 October 2026, ROCREDIT IFN S.A. consents to cancellation of its mortgage and restrictions registered over the building in land book 85828-C1 Miroslava. The platform confirms completion of cancellation and the current first rank of the stock.estate mortgage. The document reviewed is the creditor's authenticated consent; the land registry decision completing cancellation is not included in the scan.

5. Market Analysis

The independent appraisal, prepared by Appraisal & Valuation S.A., the valuation division of NAI Romania and a corporate ANEVAR member since 2010, dated 10 February 2026, establishes the following market parameters for the Miroslava industrial micro-location:

The appraiser assessed the property's marketability as medium and applied the income approach as the primary valuation method, on the basis that comparable transaction data for purpose-built industrial and technology facilities in the micro-location is limited. The cost approach produced a net replacement cost for the building alone of EUR 1,610,331, against which the market value of EUR 1,030,000 represents 64%. The difference reflects the leasehold structure of the land and the yield required by the market for this asset class.

The Iasi metropolitan area has recorded sustained development activity in recent years, supported by public infrastructure investment and by the concentration of technical education and industrial employers. For an owner-occupied industrial facility of this type, the relevant market driver is the depth of the regional manufacturing base rather than residential price movements.

6. Financial Analysis

The economic purpose is the national expansion of automatic.ro and the working-capital needs of its industrial distribution business. The Bucharest showroom has already been fitted out, stocked and opened using pre-financing. The table distinguishes this underlying purpose from the actual movement of money in the current offer: after the stated origination fee, proceeds repay the pre-financing investors pro rata. The same expenditure is not presented as a second new investment.

Use of proceeds, new funding at the funding target

If the offer reaches its maximum value, the new funding rises to EUR 200,000 and both lines scale proportionally (EUR 8,000 and EUR 192,000). Net new proceeds available at drawdown are EUR 96,000 at the target, up to EUR 192,000 at the maximum, and are applied first to repay the pre-financing, so the borrower's total secured facility through the platform remains approximately EUR 450,000. The EUR 70,014 subscribed in the first two public offers was disbursed under those offers and is carried into this campaign under the same security.

The pre-financed project covers: fit-out and equipping of the leased Bucharest premises, shelving, commercial furniture and display systems, logistics equipment, tools and testing apparatus, the constitution of a local stock for faster delivery to customers in the south of the country, replenishment of the Iasi stock, recruitment and training, commercial promotion, and modernisation of the company's digital infrastructure including the online store, product catalogue, stock synchronisation between the two locations and a CRM system.

Collateral coverage

Company financials

Operating performance and the investment cycle

The business remained profitable in 2025 while reporting higher turnover. The lower net result should be read alongside the investment cycle, depreciation and financing costs, rather than treated as a direct measure of cash generation. Capital expenditure is not automatically an expense: depreciation is recognised over the asset's useful life. The figures below are in RON, taken from the 2025 annual financial statements, and are not an additional EUR-denominated table.

EBITDA is a calculated analytical measure, not a reported cash-flow balance and not cash freely available for debt repayment. Both measures are shown because the release of investment grants contributes to reported operating income without being a current customer cash receipt. The annual statements' 2024 comparative is restated; it should not be mixed with figures from the original 2024 filing or an earlier trial balance.

Equity movement. The 2025 trial balance reconciles opening equity of RON 6,168,886.23, plus net profit of RON 157,429.49, less dividend distributions of RON 1,386,515.12, to closing equity of RON 4,939,800.60. This explains the reduction despite a positive annual result; it must not be attributed solely to capital expenditure. The accounting movements in the dividend account establish distribution and settlement in the accounts, not the cash-payment route without supporting ledger detail.

The historic EUR table also shows inventories of EUR 1,125,457 and cash and bank balances of EUR 28,269 at the end of 2025. Inventory supports the distribution model, but stock turnover and collection timing determine whether sales convert into cash. These dated balances do not demonstrate the cash available on the publication date. The platform confirms that earlier secured credit facilities have since been closed and that its first-rank mortgage remains in place; this update does not imply that all supplier, tax or other liabilities are zero.

Repayment source

Interest is intended to be paid from ongoing operating cash flow generated by the company's distribution, manufacturing and integration activities. According to the repayment plan confirmed by the platform on 5 October 2026, operating cash generation and the accumulation of liquidity are also the primary source for principal repayment at the end of month 24. The Bucharest showroom is already trading, but its future contribution is not yet demonstrated by a separately verified operating cash-flow forecast.

Bank refinancing is an alternative, alongside additional shareholder equity and, subject to availability and applicable requirements, a follow-on platform facility. The municipality's agreement to mortgage the superficies right supports the legal structure of the security; it is not itself a bank credit approval or a commitment to refinance. Principal remains due in a single instalment and sufficient liquidity must be available by maturity.

7. Funding and Investment Opportunity

How the progressive rate works

Each investment receives its own annual contract rate, fixed at the moment it is signed. The rate starts at the 10.00% floor and rises within the 6.00 percentage point interest pool according to the amount invested, following the rate bands published on this campaign page. No early-bird boost applies to this campaign. The borrower pays 16.00% per annum on the whole facility; the part of the pool not allocated to investors is the platform's fee. Once signed, the rate of an investment does not change for the life of the loan.

Capital stack and funding plan

The offer is a single-tranche facility on top of the amounts subscribed in the first two public offers. The project was pre-financed through a pre-financing round, and the investors who pre-financed it are repaid from this round, pro rata to the amount each of them pre-financed. Because new funding first repays the pre-financing, the borrower's total exposure does not increase by the full amount of this offer and remains approximately EUR 450,000. The first-rank mortgage over the Technology Transfer Centre is already registered in favour of STOCKESTATE CROWDFUNDING S.R.L., acting on behalf of the investors of the previous offers and of this offer, so there is no window in which investor capital is unsecured.

Interest is intended to be paid from ongoing operating cash flow generated by the company's distribution, manufacturing and integration activities. According to the repayment plan confirmed by the platform on 5 October 2026, operating cash generation and the accumulation of liquidity are also the primary source for principal repayment at the end of month 24. The Bucharest showroom is already trading, but its future contribution is not yet demonstrated by a separately verified operating cash-flow forecast.

Bank refinancing is an alternative, alongside additional shareholder equity and, subject to availability and applicable requirements, a follow-on platform facility. The municipality's agreement to mortgage the superficies right supports the legal structure of the security; it is not itself a bank credit approval or a commitment to refinance. Principal remains due in a single instalment and sufficient liquidity must be available by maturity.

Platform

stock.estate is a European Crowdfunding Service Provider licensed by the Autoritatea de Supraveghere Financiara of Romania under licence PJR28FSFPR/400002, operating under Regulation (EU) 2020/1503 (ECSPR).

8. Risks and Mitigations

• Operating cash flow and bullet repayment. The repayment plan relies primarily on ongoing operations and accumulated liquidity, while all principal falls due at month 24. Slower collections, inventory absorption or insufficient retained cash may require an alternative source. Mitigation: the established operating activity, the open Bucharest location and the registered first-rank mortgage support the financing structure; bank refinancing and additional equity are alternatives whose availability is not assured.
• Operating profitability and cash conversion. The company remained profitable in 2025, but net profit was lower than in 2023 and 2024; depreciation, financing costs and the timing of returns from expansion affect the result. Mitigation: the analysis presents EBITDA and EBITDA excluding investment-grant income, alongside the unchanged net-profit, inventory and cash disclosures. These figures help distinguish operating performance from financing and accounting effects; they do not guarantee sufficient cash for debt service.
• Commercial development of the Bucharest location. The premises are already fitted out, stocked, open and recording sales, as confirmed by the platform on 5 October 2026. The remaining risk is that sales, margins or stock turnover develop more slowly than expected. Mitigation: the new location complements the existing Iasi business and online channel; its leased premises limit the property acquisition commitment, while ongoing trading and cash collection require monitoring.
• Collateral enforcement. The borrower owns the building, while the underlying land belongs to Miroslava Commune and is held under superficies and concession rights. A purchaser must be able to succeed to those rights. Mitigation: the land is in the commune's private domain, the registered superficies has approximately 46 years remaining, and letter no. 26525 of 31 March 2026 allows succession insofar as the industrial park's access regulations permit. The condition must be satisfied; the letter does not assure the timing or proceeds of enforcement.
• Valuation risk. The appraised value derives from the income approach, applying a 9.50% capitalisation rate to a notional rental income, since comparable transaction data for this asset class in the micro-location is limited. Mitigation: the resulting value of EUR 1,030,000 is 64% of the appraiser's own net replacement cost estimate for the building alone (EUR 1,610,331), and the total secured facility is set at 43.69% of the appraised value.
• Currency risk. The loan is denominated in euro while revenue is generated predominantly in Romanian lei. Leu depreciation can increase both euro debt-service costs and the local-currency cost of imported stock. Mitigation: the business must manage pricing, collection and currency exposure; foreign-currency purchasing alone does not constitute a natural hedge for the euro loan.
• Variable rate at signing. The contract rate of each investment depends on the amount invested and on the conditions in force at signing, so two investors in the same campaign may receive different rates. Mitigation: the rate is displayed before signing, is fixed for the life of the loan once signed, and can never fall below the 10.00% floor.
• Illiquidity. Loans concluded through the platform are not admitted to trading on a regulated market and no secondary market is guaranteed. Investors should be prepared to hold the investment to maturity.

The project owner declares that, to the best of their knowledge, no information has been omitted or is materially misleading or inaccurate. The project owner is responsible for the preparation of the key investment information sheet (see Documents).