Maclear Project CoreTrade
- Written by
- Just P2P
- •
- Updated August 1, 2025
Score B-
CoreTrade D.O.O., a Slovenian company founded in 2022, specializes in automated distribution of essential products via smart unmanned stores. Operating in underserved rural areas, it uses AI and proprietary hardware for 24/7 access to food items. A strategic supply partnership with Hofer ensures consistent pricing.
The project aims to expand from 4 to 18 automated stores across Slovenia and neighboring countries. Funds will be used to acquire containerized modular units, intelligent refrigeration systems and automation infrastructure. This expansion will capture unmet demand in remote tourist and residential areas.
Investment terms
Loan requested : 500,000€
Period : 14 months
Interest rate : 14.7%
Loan requested : 250,000 € in equipment and funding
The 500,000 € loan aligns well with the rapidly expanding automated retail sector, enabling technological scalability with reduced operational costs. The significant 250,000 € contribution demonstrates management commitment and reduces investor risk. The 14-month terms at 14.7% reflect growth potential in underserved markets.
Risk metrics
Debt/Equity Ratio : 1.69 (Medium risk)
LTV (Loan to Value) : 79% (Medium risk)
Credit History Score : 7/10 (Average)
The debt-to-equity ratio of 1.69 sits at the high end of medium risk, concerning given the rapid expansion context requiring rigorous financial management. An LTV of 79% reaches the medium range limit, partially offset by tangible and modular collateral assets that are easily relocatable.
The credit score of 7/10 places this company below the acceptable threshold, reflecting poor creditworthiness despite four operational stores generating positive cash flows. Collectively, these metrics suggest a concerning risk profile that necessitates enhanced monitoring of financial and operational performance.
Business profile
Geographic Location : Slovenia (EU member states)
Industry Sector : Automated retail
Collateral Type : Equipment/Company assets
The Slovenian location offers competitive advantages through massive contactless payment adoption (>90%) and lower costs than Western Europe. The company operates in a sector where automation addresses labor shortage challenges. The collateral comprises relocatable modular equipment. The successful expansion from 2 to 4 stores through self-financing demonstrates adaptability.
Positive / Risk factors
Positive factors
- European automated market growth 7.9% CAGR
- Strategic partnership established with Hofer/Aldi
- Proven model 4 profitable stores
- Strong unit economics 25% margin
- Proprietary technology entry barriers
- Tangible easily relocatable collateral
Risk factors
- Geographic concentration restricted Slovenian market
- Technology dependence specialized maintenance
- Seasonal tourism exposure variations
- Potential competition large retail chains
- Evolving automated commerce regulations
- Financial projections data inconsistencies
Opinion CoreTrade
The B- rating is justified by a medium debt-to-equity ratio of 1.69 and high LTV of 79% combined with an insufficient credit score of 7/10, placing metrics below acceptable averages. While the Hofer/Aldi partnership and modular nature of assets provide mitigating factors, inconsistencies in the financial projections and limited credit history limit the assessment. This opportunity presents an acceptable profile but necessitates enhanced monitoring of operational performance and financial discipline.
