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Host SavoieSwitzerlandRepurchase 10% a year, 2 yrsEdinburgh Supplies LTDSouth KoreaRepurchase 10% a year, 5 yrsSnow BrokerJapanRepurchase 10% a year, 3 yrsLyfeindex LimitedBelgiumRepurchase 5% a year, 10 yrsBullion RumTanzaniaRepurchase 5% a year, 10 yrsMUTEJapanRepurchase 10% a year, 5 yrsBenito'sJapanRepurchase 5% a year, 10 yrsAnnard LtdUnited StatesRepurchase 5% a year, 5 yrsKEMA Storköksförsäljning ABChinaRepurchase 10% a year, 5 yrsTruth Treatment SystemsBrazilRepurchase 5% a year, 10 yrsRicher EducationKuwaitRepurchase 50% a year, 2 yrsBelle CoachworksAustraliaRepurchase 5% a year, 7 yrsArconoQatarRepurchase 8% a year, 5 yrsK-FabQatarRepurchase 10% a year, 5 yrsNoordungQatarRepurchase 15% a year, 3 yrsMobo EatsNetherlandsRepurchase 10% a year, 3 yrsEngingNepalRepurchase 10% a year, 3 yrsRabosaUnited Kingdom, EnglandRepurchase 10% a year, 3 yrsShocklogicBahrainRepurchase 50% a year, 2 yrsStagefrights Murder MysteriesChinaRepurchase 15% a year, 3 yrsThe Mortgage Advice ClubQatarNo repurchase optionAdventura GlobalBrazilRepurchase 5% a year, 5 yrsShapeaccelerator BVChinaRepurchase 10% a year, 3 yrsIndoor Vertical.FarmQatarRepurchase 10% a year, 3 yrsCrowd CookwareBahrainRepurchase 10% a year, 3 yrsLandskapetGermanyRepurchase 10% a year, 3 yrsGreenolaOmanRepurchase 10% a year, 3 yrsCaravans In The SunGermanyRepurchase 10% a year, 3 yrs

The EdenMountain Exchange

The exchange for Enterprise Non-Operating Rights

An ENOR is a brand's right to a territory where it does not operate. Brands list ENORs to raise capital without debt or dilution. Verified investors buy them, hold them and trade them on the first market built for the asset class.

Invest in ENORs List your ENORs
Market summaryLive
ENORs listed
589
Brands
61from 15 countries
Territories
101
Completed sales
1210 relisted

ENORs listed since July 2024By month

One ENOR, from listing to the secondary market

MUTE, a UK electric moped subscription brand, listed rights to 14 territories where it does not operate. This is the record of its Saudi Arabia ENOR, taken from the exchange's listing history.

Today: offered by its holder on the secondary market. MUTE's repurchase window stays open until August 19, 2029.

MUTE · Saudi Arabia ENORSquares mark MUTE's 14 listed territories
MUTE, United KingdomSaudi Arabia ENOR
ListedReservedSoldRelistedWindow closesRepurchase window, Aug. 2024 to Aug. 2029Today
Originator
MUTE
Holder
Verified investor
Secondary market
Offered to other investors

The market as it moves

Full market activity

Where ENORs are listed

Live
ENORs listed per country: one circle per country, sized by number of listingsSaudi Arabia: 57 ENORsUnited Arab Emirates: 49 ENORsQatar: 42 ENORsKuwait: 38 ENORsBahrain: 31 ENORsAustralia: 24 ENORsOman: 23 ENORsEgypt: 23 ENORsNew Zealand: 19 ENORsBrazil: 17 ENORsSweden: 16 ENORsCanada: 16 ENORsGermany: 15 ENORsJordan: 13 ENORsUnited States: 12 ENORsIndia: 11 ENORsTurkey: 10 ENORsSouth Africa: 9 ENORsChina: 9 ENORsJapan: 8 ENORsHong Kong: 8 ENORsNetherlands: 8 ENORsNorway: 6 ENORsIndonesia: 6 ENORsSwitzerland: 5 ENORsSouth Korea: 5 ENORsBelgium: 5 ENORsArgentina: 5 ENORsSingapore: 5 ENORsUnited Kingdom: 5 ENORsFrance: 4 ENORsIraq: 4 ENORsFinland: 4 ENORsNigeria: 4 ENORsItaly: 3 ENORsDenmark: 3 ENORsGreece: 3 ENORsMorocco: 3 ENORsBulgaria: 2 ENORsTaiwan: 2 ENORsBahamas: 2 ENORsMalaysia: 2 ENORsKazakhstan: 2 ENORsGibraltar: 2 ENORsGhana: 2 ENORsPoland: 2 ENORsCroatia: 2 ENORsPortugal: 2 ENORsAndorra: 1 ENORTanzania: 1 ENORVietnam: 1 ENORAlbania: 1 ENORBotswana: 1 ENORZimbabwe: 1 ENORUganda: 1 ENORChile: 1 ENORSlovenia: 1 ENORPhilippines: 1 ENORGeorgia: 1 ENORThailand: 1 ENORJersey: 1 ENORMacao: 1 ENORGuyana: 1 ENORAzerbaijan: 1 ENORLiechtenstein: 1 ENOREstonia: 1 ENORRwanda: 1 ENORNepal: 1 ENORAustria: 1 ENORMauritius: 1 ENORIreland: 1 ENORSpain: 1 ENORCyprus: 1 ENORMontenegro: 1 ENORAlgeria: 1 ENORFiji: 1 ENORSri Lanka: 1 ENORPalau: 1 ENORUruguay: 1 ENORMaldives: 1 ENORCuraçao: 1 ENORAruba: 1 ENORCaribbean Netherlands: 1 ENORBrunei Darussalam: 1 ENORCayman Islands: 1 ENORCosta Rica: 1 ENORIceland: 1 ENORMexico: 1 ENORKenya: 1 ENORPakistan: 1 ENORTunisia: 1 ENOR
ENORs listed per country11050Live activity

Exchange activity

Updates as it happens
    Brands, territories and terms from current listings

    Two sides of every ENOR

    Brands

    Capital for growth from territories a brand is not using yet

    Badiani1932, the Florentine gelato maker with shops in London, Brighton, Barcelona, Malaga and Paris, has listed 17 territories on the exchange. All 17 carry the same repurchase terms, 10% a year over three years, and Badiani is looking for operating partners in all of them.

    • No debtNo loan, no interest and no repayment schedule.
    • No dilutionNo shares issued and no board seats given up.
    • Full controlThe brand, the business and every unsold territory stay with the brand.
    • A way back inA repurchase option fixes the cost of buying a territory back.
    Listing on the exchange

    Investors

    A position in where a private brand expands next

    Outside private equity, angel rounds and franchising, there has been little way to take part in a private brand's growth. An ENOR is a defined, recorded position in one brand and one territory, and it can be sold on.

    • A say in that marketThe brand can enter the territory only by repurchasing under its listed option or by reaching terms with the holder.
    • Terms up frontPrice, repurchase rate and validity period are on the listing before you commit.
    • A secondary market10 of the 12 ENORs sold so far are back on the market, listed by the investors who bought them.
    • Information to judge itListings cover operations, team, customers, competition, financials and growth plans.
    Investing on the exchange

    How the exchange works

    Every member is verified before they can list, offer or buy, and every sale runs on the same standard-form Transfer Agreement under English law.

    1. Request access

      Brands and investors register for free and choose their side of the exchange.

    2. Verification

      A third-party provider checks identity and screens against sanctions and anti-money-laundering lists. Brands also show they can act for the company.

    3. List or browse

      Brands publish a business profile and list ENORs by territory. Investors browse listings anonymously.

    4. Buy or offer

      Buy at the listed price, or offer your own amount for 3 to 30 days. Some brands accept offers only.

    5. Hold or resell

      The exchange issues the ENOR Holder Certificate and updates it on every transfer. Holders can relist at any time.

    Insights and research

    All insights

    From the press office

    All press releases

    Join the EdenMountain exchange

    Registration is free. Choose the side of the exchange you are on and verification starts from there.

    Invest in ENORsFor accredited investors
    List your ENORsFor brands with territories they do not operate in