MBO

Mobilityone Limited

Industrial Goods and Services First-pass screen £9.83m

250/1000 Overall fit

AI beneficiary 35% 30

Operating leverage 25% 22

Valuation 25% 25

Downside protection 15% 20

First-pass take

Payment infrastructure processor (airtime, remittance, e-money) with declining revenue (-4.7% to £230m), negative operating leverage (admin costs +6.8% while revenue fell), and widening losses. No AI exposure. Net debt position (£3.1m) with borrowings rising sharply. Material funding dependent on external TETE merger completion (delayed to Aug 2025).

Flags

loss-makingnegative-operating-leveragenet-debtcustomer-concentration-riskm-and-a-riskthin-margins-4.8pctno-ai-exposureexecution-risk