Enigmatig Ltd

What Do They Do?

Provides cross-border licensing, corporate secretarial and related regulatory services to small and medium-sized companies setting up businesses overseas, particularly brokerages.

How Do They Make Money?

Clients pay license application fees partly at appointment and the balance when the license is obtained; renewals and additional consultancy fees are paid at appointment, while ongoing license compliance is billed monthly. Corporate secretarial fees are paid in full at appointment, before work begins.

Who Are Their Customers?

Small and medium-sized corporations, especially those setting up overseas foreign-exchange or contract-for-difference brokerages, are the main clients. Enigmatig provides services directly in some jurisdictions and through professional partners in others.

Do Revenues Turn Into Profits?

Yes. It kept 13 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$2M.

How Are They Changing?