Rating E-
21 / 100
Mojo Holding Limited, which operates under the brand name Mojo Capital, is a financial services company specializing in credit intermediation to fintechs. It is a limited liability company established in early 2024 under registration number 000009525 in Abu Dhabi (UAE).
Mojo Holding Limited is owned by Davis Barons, who is also its director, and Matiss Ansviesulis. For this analysis, we relied on their first annual report (2024), which the management team chose not to have audited.
On Esketit’s platform, where Mojo Holding Limited is listed, another document is available outlining projections for the first semester of 2025. However, this commercial document was not used due to a lack of relevant data for this analysis.
Growth : C-
Mojo Capital shows a mixed operational start with 1.2 M$ in structured loan portfolio and 427 K$ in revenue generated in 2024. Despite its effective origination capacity, the 98 K$ loss, representing 23% of revenue, reveals a business model that remains fragile.
Moreover, operational expenses (484 K$) represent 40% of the managed portfolio, a particularly high and concerning ratio for an intermediary, compounded by fixed staff costs (251 K$) accounting for 59% of revenue, undermining its future growth prospects.
Profitability : F
Mojo Capital recorded zero profitability in 2024 with certain metrics even negative. Return on assets is negative at -5.7%, indicating the company’s inability to generate value from its assets during its first year of operation.
The loan yield of only 0.36% indicates that its credit activity has been highly unproductive. The net margin of -22.8% reveals a cost structure that is totally inadequate compared to the revenue generated. Its financial situation therefore requires urgent turnaround.
Liquidity : D+
The excellent short-term obligations coverage (2.83) suggests a theoretical ability to meet immediate payment obligations, but with only 47 K$ of available cash against 604 K$ of current liabilities, the critical immediate liquidity ratio reveals a practical inability.
This paradox is explained by the asset structure: 97% is tied up in loans granted and accrued revenues not yet collected. Financial autonomy of only 35.5 days amplifies this vulnerability during cash flow tensions, requiring continuous monitoring.
Credit Quality : E
The assessment of credit quality is impossible due to a lack of data on provisions for doubtful debts, provision expenses, and credit losses. Absence of such crucial information in the financial statements is concerning for a credit company, as it prevents the evaluation of portfolio quality and associated risks.
Solvency : F
Mojo Holding’s solvency shows total failure with negative equity of -96,566 $ in 2024. This fragile financial situation indicates that cumulative losses significantly exceed the initial capital, preventing any loss absorption in case of borrower defaults.
The negative absorption capacity ratio reveals an inability to absorb losses on the loan portfolio. This financial structure represents an important risk for creditors and requires urgent recapitalization to ensure business continuity.
Strengths
✅ Coverage of short-term obligations
✅ Proven operational growth
Weaknesses
⚠️ Negative equity (-96,566 $)
⚠️ Significantly negative profitability
⚠️ Fragile financial structure
⚠️ Lack of credit quality data
⚠️ Insufficient cash for immediate obligations
Review 2025 Mojo Capital
Mojo Holding Limited presents a negative financial profile that requires nuance. On one hand, the company demonstrates real operational capacity with 1.2 M$ in structured loan portfolio and 427 K$ in revenue. On the other hand, negative equity (-97 K$) and unprofitable operations raise concerns about financial stability.
The loan originator model explains the balance sheet structure but does not resolve the economic viability issue. Recapitalization would be welcome to consolidate the financial structure and ensure sustainable growth. The absence of detailed provisions adds uncertainty regarding risk management.
For investors wishing to invest alongside Mojo Capital, they can do so through the crowdlending platform Esketit.
