20,799.20USDC

99.04% of 21,000 USDC

Repaidon Mar 13, 2026

Funded date: Jun 18, 2025
Repaid date: Mar 13, 2026
Loan period: 9 months
Annual interest: 22.90 %

Ten more vehicles for a signed corporate contract

The €500k loan buys 4 Nissan Pathfinder, 3 BMW 520i, 2 BMW X5 40i and 1 BMW X7 50i for an expanded 12-month contract with EMCO INTERNATIONAL DMCC, adding €22,008 in monthly revenue.

20,799.20USDC

99.04% of 21,000 USDC

Risk score: BBB9 months22.90 %Repaid

MILEX CAR RENTAL CO. L.L.C is a Dubai-based company specializing in long-term vehicle rentals for corporate clients and, as part of its expansion strategy, the B2C segment. The company operates in the competitive UAE car rental market, focusing on providing high-quality, well-maintained vehicles for business and individual customers.

Core Business

MILEX sources vehicles through a unique procurement strategy, purchasing high-quality, auctioned cars in the U.S., refurbishing them, and integrating them into its rental fleet. The company currently operates a fleet of 13 vehicles, including SUVs, sedans, and luxury models from BMW, Nissan, Kia, and Audi.

The company’s revenue model is built around long-term rental contracts, ensuring stable cash flow and predictable returns. The company primarily offers rentals for a minimum of two weeks, with options for longer-term leases. Additionally, MILEX provides a range of value-added services, including:

Vehicle cleaning and maintenance
Optional driver service
Rental of child seats, extra luggage compartments, and insurance for extended mileage

Revenue distribution within the company is structured as follows:

93% of revenue comes from vehicle rentals.
7% of revenue is generated from additional services.

The average fleet utilization rate from 2023 to 2025 has been 88.72%, reflecting strong demand and effective fleet management.

Leadership & Expertise

The company is led by Maria Afanasievna Bondareva, an experienced entrepreneur with a background in product management and mobility services. She previously played a key role in developing triumftaxi.com, a ride-hailing service in Bulgaria. Her expertise in transportation and mobility solutions has been instrumental in shaping MILEX’s strategic direction, focusing on fleet efficiency, customer acquisition, and operational scalability.

MILEX CAR RENTAL CO. L.L.C was foundedJun 1, 2023

Start of active work/productionJun 1, 2023

Revenue in 2023129 605

Revenue in 2024439 885

Gross Profit in 2023123 199.09

Gross Profit in 2024429 463.04

Min target10,500 USDC

Investors60

Interest paymentsmonthly

Principal repaymentsbullet

Total payments9 months

Details

Financial Performance

MILEX CAR RENTAL CO. L.L.C has demonstrated significant revenue growth from 2023 to 2024, with a projected strong performance in 2025. The company’s financials reflect a stable business model, strong fleet utilization rates, and increasing revenue per vehicle. However, the net loss in 2024 was primarily due to a major capital expenditure of €314,815 for fleet expansion. This investment is expected to drive long-term profitability and business scalability.

Note: All 2025 financial projections are based on an extrapolation of current performance trends and do not account for potential revenue growth from fleet expansion beyond the currently planned acquisitions. Similarly, 2023 financial figures have been extrapolated since the company began operations mid-year, ensuring a more accurate year-over-year comparison.

Growth Plan

Strategic Vision for 2025

MILEX CAR RENTAL CO. L.L.C plans to strengthen its position in the B2B segment while entering the B2C market to diversify revenue streams and reduce reliance on corporate clients. The growing car rental demand in Dubai presents an opportunity for increased market penetration.

B2B Expansion: Listing the fleet on aggregator platforms to improve visibility and attract clients beyond referrals. This will expand market reach but may reduce margins due to platform fees.
B2C Entry: Targeting Dubai’s tourism market with short-term rentals that offer higher daily revenue but require increased operational management.

Planned Fleet Expansion

To support growth, the company will acquire 10 additional vehicles to fulfill an expanded contract with EMCO INTERNATIONAL DMCC, covering:

4 Nissan Pathfinder
3 BMW 520i
2 BMW X5 40i
1 BMW X7 50i

This expansion secures an additional €22,008 in monthly revenue, with a 12-month contract offering competitive pricing.

Description of the Loan

MILEX CAR RENTAL CO. L.L.C seeks a €500,000 loan to fund fleet expansion and entry into the B2C market. The loan will be structured over 9 months at a 20.5% annual interest rate.

Funds will be used for the acquisition of:

4 Nissan Pathfinder
3 BMW 520i
2 BMW X5 40i
1 BMW X7 50i
Spare parts and maintenance costs

Loan Collateral

MILEX CAR RENTAL CO. L.L.C offers a combination of existing and newly acquired vehicles as collateral for the €500,000 loan. The primary security consists of the company’s current fleet and additional vehicles to be purchased with loan funds.

Fixed Asset Collateral: Vehicle Fleet

Estimated Value of Existing Fleet: €457,200
Annual Depreciation Rate: 15%
New Vehicles to be Acquired: 10 units
Estimated Value of Newly Acquired Fleet: €430,000 - €450,000
Projected Total Collateral Value: Covers the loan principal

Risk scoring

Total risk scoreBBB

Debt to equity1.09

LTV56%

Credit history7 / 10

Collateral typeCompany Assets

Rating BBB (the fourth tier) reflects a young but fast-growing rental business with long-term corporate contracts and high fleet utilisation, secured by the vehicles themselves.

D/E (Debt-to-equity) of 1.09 is moderate;
LTV of 56% means the existing and new fleet are valued well above the €500k loan;
Credit history score of 7/10.

Keep in mind:

the company has operated only since June 2023, with a fleet of 13 vehicles;
2024 closed with a net loss after €314,815 of fleet capital expenditure;
vehicle values depreciate at about 15% a year;
aggregator listings and B2C rentals may reduce margins and add operational load;
Dubai’s rental market is highly competitive, with aggressive pricing from large fleets.

Financials

Revenue 2024€439,885

Gross profit 2024€429,463

Fleet utilisation88.72%

New contract€22,008 / month

€ thousands

€130k*130*

€440k440

20232024

* 2023 is extrapolated to a full year, as operations began mid-year

MILEX grows by adding vehicles against signed corporate demand: the new fleet is tied to an expanded 12-month contract with EMCO INTERNATIONAL DMCC.

Revenue growth

Revenue rose from €129,605 in 2023 (extrapolated to a full year) to €439,885 in 2024.
The 10 new vehicles add €22,008 in monthly revenue.

High gross margins

Gross profit reached €429,463.04 in 2024 on €439,885 of revenue.
93% of revenue comes from rentals, 7% from additional services.

Fleet efficiency

Average fleet utilisation of 88.72% over 2023–2025.
Minimum two-week rentals keep cash flow predictable.

Market

The UAE car rental market was valued at $1.8 billion in 2023 and is projected to grow at 7.5% CAGR through 2030, driven by tourism, corporate leasing and subscription-based rentals. Dubai is highly competitive, but corporate and long-term rentals are expanding.

Financial performance

MILEX showed significant revenue growth from 2023 to 2024, with a stable business model, strong fleet utilisation and increasing revenue per vehicle. The net loss in 2024 was primarily due to a major capital expenditure of €314,815 for fleet expansion, which is expected to drive long-term profitability and scalability.

Metric, EUR	2023	2024
Revenue	129,605	439,885
Gross profit	123,199.09	429,463.04

The company began operations mid-year, so 2023 figures have been extrapolated to allow a year-over-year comparison. 2025 projections are an extrapolation of current performance trends and do not account for revenue growth from fleet expansion beyond the currently planned acquisitions.

Growth plan

MILEX plans to strengthen its position in the B2B segment while entering the B2C market to diversify revenue and reduce reliance on corporate clients, as growing car rental demand in Dubai opens room for further market penetration.

B2B expansion: listing the fleet on aggregator platforms to improve visibility and attract clients beyond referrals. This expands market reach but may reduce margins due to platform fees.
B2C entry: targeting Dubai’s tourism market with short-term rentals that offer higher daily revenue but require more operational management.

Planned fleet expansion

The company will acquire 10 additional vehicles to fulfil an expanded contract with EMCO INTERNATIONAL DMCC: 4 Nissan Pathfinder, 3 BMW 520i, 2 BMW X5 40i and 1 BMW X7 50i. The expansion secures an additional €22,008 in monthly revenue under a 12-month contract at competitive pricing.

Market assessment

The UAE car rental market, valued at $1.8 billion in 2023, is projected to grow at 7.5% CAGR through 2030, driven by rising tourism, corporate leasing and a shift toward subscription-based rentals. Demand for premium vehicles is also increasing.

Dubai’s rental market is highly competitive, with major international and local players:

strong competition from large fleets and aggressive pricing;
high tourist demand, while corporate and long-term rentals are expanding.

Collateral breakdown

Existing fleet, 13 vehicles · €457.2KNew fleet, 10 vehicles (est. €430,000–450,000) · €430K

Existing fleet, 13 vehicles€457,200

New fleet, 10 vehicles (est. €430,000–450,000)€430,000

Total pledged€887,200Estimated fleet values; the new-fleet bar shows the low end of the range.

The €500k loan is secured by MILEX’s vehicle fleet.

1. Existing fleet — €457,200

13 vehicles, including SUVs, sedans and luxury models from BMW, Nissan, Kia and Audi.
Depreciating at about 15% a year.

2. New vehicles bought with the loan — €430,000–450,000

10 vehicles: 4 Nissan Pathfinder, 3 BMW 520i, 2 BMW X5 40i and 1 BMW X7 50i.

Together, the projected collateral value covers the loan principal.

Loan collateral and terms

MILEX seeks a €500,000 loan over 9 months at a 22.9% annual interest rate to fund fleet expansion and entry into the B2C market. Funds will be used to acquire 4 Nissan Pathfinder, 3 BMW 520i, 2 BMW X5 40i and 1 BMW X7 50i, and to cover spare parts and maintenance costs.

The loan is secured by the company’s current fleet and the vehicles purchased with the loan funds.

Vehicle fleet collateral	Value
Estimated value of existing fleet	€457,200
Annual depreciation rate	15%
New vehicles to be acquired	10 units
Estimated value of newly acquired fleet	€430,000 – €450,000
Projected total collateral value	Covers the loan principal

Borrower

MILEX CAR RENTAL CO. L.L.CDubai, United Arab Emirates · founded 2023

Reg No: 1192624milex.ae

About the company

MILEX CAR RENTAL CO. L.L.C is a Dubai-based company specialising in long-term vehicle rentals for corporate clients and, as part of its expansion strategy, the B2C segment. It operates in the competitive UAE car rental market, focusing on high-quality, well-maintained vehicles for business and individual customers.

MILEX sources vehicles through its own procurement strategy: it purchases high-quality auctioned cars in the U.S., refurbishes them and integrates them into its rental fleet — currently 13 vehicles, including SUVs, sedans and luxury models from BMW, Nissan, Kia and Audi.

The revenue model is built around long-term rental contracts, with rentals for a minimum of two weeks and options for longer-term leases. 93% of revenue comes from vehicle rentals and 7% from additional services:

vehicle cleaning and maintenance;
optional driver service;
rental of child seats, extra luggage compartments, and insurance for extended mileage.

Average fleet utilisation from 2023 to 2025 was 88.72%, reflecting strong demand and effective fleet management.

Corporate identifiers: registration number 1192624; operating since 1 June 2023; registered address MOAZA KHALFAN BLDG, Al Mararr, Dubai, United Arab Emirates.

Leadership

The company is led by Maria Afanasievna Bondareva, an entrepreneur with a background in product management and mobility services. She previously played a key role in developing triumftaxi.com, a ride-hailing service in Bulgaria. Her experience in transportation and mobility has shaped MILEX’s strategic direction, with a focus on fleet efficiency, customer acquisition and operational scalability.

Key clients

MILEX maintains corporate partnerships that ensure steady demand and high fleet utilisation:

Green Stone Landscaping L.L.C
Green Cello Packing Materials Trading L.L.C
Alsa Solar Systems LLC
EMCO INTERNATIONAL DMCC
MAKIN TECHNOLOGY SOLUTIONS L.L.C

Specialising in long-term B2B rentals gives stable revenue and predictable cash flow, and reduces exposure to seasonal fluctuations.