Project Idea

Elinor Market Ltd., founded in 2020 and headquartered in Sofia, Bulgaria, has quickly become a prominent provider of contract supply services for server equipment and ASIC mining hardware. With a focus on innovation, reliability, and customer satisfaction, Elinor Market Ltd. collaborates with top manufacturers to deliver tailored solutions that meet the dynamic needs of clients in the IT and mining sectors. The company’s product offerings range from advanced server systems to cutting-edge ASIC miners, positioning it as a key player in the European market for high-performance computing solutions.

The company’s rapid growth is reflected in its financial performance, showing substantial revenue increases year-over-year. In 2021, Elinor Market Ltd. reported revenue of 412,579 BGN, which nearly doubled to 755,787 BGN in 2022, and surged again to 1,563,130 BGN in 2023. This impressive growth trajectory is attributed to the company’s expanding client base, strong partnerships, and ability to meet the rising demand for IT infrastructure and cryptocurrency mining hardware.

Executive summary (business plan and financial model)

Elinor Market Ltd. is initiating a funding round to secure a total loan of €500,000 to support the execution of a significant contract with Limbelmo NV. The contract involves the supply, installation, and configuration of high-performance server equipment, with a total value of €777,915, and is scheduled for completion by March 1, 2025. The funding will be primarily used to ensure timely procurement and delivery of the equipment outlined in Annex 1, valued at €624,985, while any additional project costs will be covered from the company’s own financial resources.

The loan will be structured into five rounds, enabling Elinor Market Ltd. to gradually secure the necessary capital and allocate it efficiently throughout the project lifecycle.

• Round 1: €100,000
• Round 2: €100,000
• Round 3: €100,000
• Round 4: €100,000
• Round 5: €100,000

The staggered loan structure provides Elinor Market Ltd. with flexibility in managing cash flow and maintaining operational capacity, with the majority of funds allocated to the procurement of equipment under Annex 1. The company will cover the remaining costs associated with installation (Annex 2) and configuration services (Annex 3) from its own financial resources, ensuring a balanced and sustainable capital structure. This demonstrates Elinor Market Ltd.’s strong commitment to fulfilling the contract and its confidence in the successful execution of the project.

Allocation of Funds

The €500,000 loan will be allocated as follows:

• Machinery and Equipment Costs: ~100%

With this loan, Elinor Market Ltd. will secure the equipment required to fulfill its contract with Limbelmo NV and continue growing its market presence in the server equipment industry. The company anticipates a profitability margin of 25%-32% from the project, ensuring both timely loan repayment and attractive returns for investors.

Key Financials

1. In 2021, Elinor Market Ltd. generated €210,000 in revenue.
2. The company experienced a significant growth rate of 83.3% in 2022, with revenue increasing to €385,000.
3. In 2023, the company recorded an additional 106.82% growth, reaching €781,500 in revenue.
4. Total Growth (2021-2023): Over the three-year period, Elinor Market Ltd. achieved a remarkable 271.19% increase in revenue.

Looking ahead, Elinor Market Ltd. anticipates generating a total cash flow of approximately €777,915 from the execution of its contract with Limbelmo NV between September 2024 and August 2025. The company expects its total revenue to reach approximately €2.65 million by the end of 2025, driven by its strategic growth initiatives and continued demand for high-performance server equipment in the European market.

Collateral and guarantees

As part of the loan structure, Elinor Market Ltd. will provide the equipment purchased under the contract with Limbelmo NV as collateral. The equipment, valued at over €500,000, remains the property of Elinor Market Ltd. until the completion of the entire project, as stipulated in the contract. Ownership of the equipment is transferred to the buyer only after the successful execution of all obligations, including supply, installation, and configuration, under Annexes 1, 2, and 3.

In the event of any delays or issues with project execution, the equipment can be reclaimed and retained by Elinor Market Ltd., as it remains the company's property until full contractual completion. This ensures that the equipment serves as a secure and tangible form of collateral, providing strong guarantees for the loan. The high market value and liquidity of the server equipment further reinforce the security for investors, as it can be liquidated if necessary to cover any outstanding obligations.

This arrangement minimizes risk for lenders, as the collateral represents a significant, high-value asset that remains under the control of Elinor Market Ltd. throughout the duration of the project.