• In 2021, there are 135 FinTech companies in Bulgaria
  • The FinTech personnel hit an all-time high of 8665 in 2020. With an average 14% increase per year
  • Despite the pandemic, the total and operating revenues of the industry are increasing and peaked at, respectively, BGN 1.4 billion and BGN 1.063 billion in 2020.
  • BFA Women in FinTech survey 2021 shows that 44% of all employed in FinTech in Bulgaria are women and 62% of Fintech companies have at least one female member in the Board of Directors
  • In 2021, BFA’s FinTech educational initiatives reached more than 300 people and attracted 70+ participants to the FinTech hackathon
  • In the last two years, € 32.2 million has been invested in Bulgarian FinTech SMEs. More than €6 million came from 5 Bulgarian investors who saw the potential in more than 10 FinTech SMEs.
  • The European Commission works with a digital finance strategy and legislative proposals on markets in crypto assets (MICA), the DLT pilot, and on a digital operational resilience act (DORA), as well as a renewed strategy for modern and safe retail payments.
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Ecosystem Snapshot 2021

Annual FinTech Report 2021

For a third consecutive year, the Bulgarian Fintech Association (BFA) publishes an Annual Fintech Report which marks the achievements of the digital finance industry in the country and region of Southeastern Europe. This year issue is very special – it is a collaboration between BFA and more than 20 private and public key FinTech stakeholders in the region, including the Ministry of Finance of the Republic of Bulgaria, the Financial Supervision Commission of Bulgaria, the European Commission, European Bank for Reconstruction and Development, InvestBulgaria Agency, Paysafe, Paysera, NEXO, Vangavis, and many more.

Bulgaria’s FinTech Mapping 2021

The FinTech Mapping is a visual representation of the FinTech industry in Bulgaria. Similar to the last year, the Mapping is created in partnership with Innovative Sofia, who contributed to the design of this FinTech panorama. According to BFA’s data, it encompasses more than 95% of the industry in the country and all interested in the development of the sector parties, including the Entrepreneurial ecosystem, Regulators, FinTech supporting companies, etc.