Automatic Invest - Technology Transfer Centre

1. Executive Summary

Automatic Invest S.R.L., operating under the automatic.ro brand, is a Romanian distributor and manufacturer of industrial automation components based in the Miroslava Industrial Park, Iasi County. The company is raising EUR 450,000 over a 24-month term to refinance an existing non-bank facility, to open and stock a new mixed depot, showroom and retail location in Bucharest, and to fund working capital and digital infrastructure. Investors receive a fixed 13.50% per annum remuneration interest rate, plus a performance cashback of up to 2.00% per annum, for a maximum effective yield of up to 15.50% per annum. Interest is paid monthly and the principal is repaid in a single instalment at maturity. The loan is secured by a first-rank mortgage over the company's Technology Transfer Centre in Bratuleni, independently appraised at EUR 1,030,000, which represents a collateral coverage of 229% of the loan amount and a loan-to-value ratio of 43.69%.

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 planned 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.

4. Project Overview

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.

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

This is a refinancing and working capital transaction. There is no property acquisition and no resale, so no projected sale price or development margin applies.

Use of proceeds

Net proceeds available to the borrower at drawdown are EUR 432,000.

The Bucharest allocation covers: fit-out and equipping of the leased 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

Turnover grew by 2.9% in 2024 and 6.7% in 2025. Net profit declined over the same period, from EUR 296,805 in 2023 to EUR 30,878 in 2025, as the company absorbed the depreciation and financing cost of the Technology Transfer Centre investment, which was commissioned in 2025 and which increased total assets from EUR 1.8 million in 2022 to EUR 6.17 million in 2023. The solvency ratio, measured as total assets over total debt, stood at 265.84% at the end of 2025.

Repayment source

The principal is repaid in a single instalment at the end of month 24. The borrower's stated primary repayment channel is bank refinancing secured on the same asset. The company holds existing banking relationships and has already obtained, in March 2026, the written agreement of Miroslava Commune to the registration of a mortgage over its right of superficies in favour of a commercial bank, confirming that the collateral structure is bankable. Monthly interest is serviced from operating cash flow.

7. Funding and Investment Opportunity

Capital stack and funding plan

The transaction is a single-tranche facility. Approximately 44% of the gross amount discharges the existing non-bank facility held by RoCredit IFN, whose mortgage over the same asset is released at the same notarial session at which the investors' first-rank mortgage is registered. There is no window in which investor capital is unsecured and no period in which the asset carries a competing prior-ranking charge.

Named repayment channels, in order of preference:

1. Bank refinancing secured on the same asset, the borrower's stated primary channel
2. Operating cash flow from the expanded distribution business across the Iasi and Bucharest locations
3. Additional shareholder equity
4. A follow-on stock.estate facility, subject to the collateral coverage requirement in force at the time

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

• Repayment risk at maturity. The facility is repaid as a single principal instalment at month 24, which requires the borrower to have either refinanced the exposure or accumulated sufficient liquidity by that date. Mitigation: the loan-to-value of 43.69% leaves substantial headroom relative to the appraised value, the borrower has confirmed that the underlying collateral structure has already been accepted as bankable by a commercial bank, and the platform holds a first-rank mortgage enforceable independently of the borrower's cooperation.
• Profitability trend. Net profit declined from EUR 296,805 in 2023 to EUR 30,878 in 2025 as the company absorbed the cost of a large industrial investment before the new capacity generated corresponding revenue. Mitigation: turnover grew in each of those years, the investment is complete and commissioned, and the loan is secured on the resulting asset rather than on earnings.
• Execution risk on the Bucharest expansion. The new location is leased and under fit-out, with opening estimated between 1 and 15 September 2026. New fixed costs precede the revenue they are intended to generate. Mitigation: the premises are leased rather than purchased, limiting fixed cost and capital commitment until the location is validated commercially; the existing Iasi operation and the online channel continue to generate the majority of revenue.
• Collateral enforcement. The building is owned outright by the borrower, but the land beneath it is owned by Miroslava Commune and held by the borrower under a right of superficies and a concession. Enforcement therefore requires that a successful bidder be able to succeed to those rights. Mitigation: the land belongs to the commune's private domain rather than its public domain; the right of superficies is a registered real right with approximately 46 years remaining and is capable of being mortgaged; and Miroslava Commune has confirmed in writing that a successful bidder at enforcement may be subrogated into the borrower's rights and obligations.
• 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 loan is set at 43.69% of the appraised value.
• Currency risk. The loan is denominated in euro while the borrower's revenue is generated predominantly in Romanian lei. A depreciation of the leu increases the local-currency cost of servicing and repaying the facility. Mitigation: part of the borrower's cost base is also denominated in foreign currency through its import activity, providing a partial natural offset.
• Funding completion risk. If the campaign raises less than the minimum target of EUR 250,000, the round is declared unsuccessful and the refinancing of the existing facility cannot be executed. Mitigation: amounts paid in by investors are refunded promptly by the payment service provider, BCR, and no loan agreement takes effect.
• 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).