{"id":4025,"date":"2019-09-09T13:11:04","date_gmt":"2019-09-09T10:11:04","guid":{"rendered":"https:\/\/fintechbulgaria.org\/our-blog-f-the-first-bulgarian-fintech-report\/"},"modified":"2022-02-25T11:18:01","modified_gmt":"2022-02-25T09:18:01","slug":"our-blog-f-the-first-bulgarian-fintech-report","status":"publish","type":"post","link":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/","title":{"rendered":"The First Bulgarian Fintech Report"},"content":{"rendered":"\r\n<figure class=\"wp-block-image\"><a href=\"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2019\/09\/Bulgarian_Fintech_Report_2019.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><img class=\"lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-orig-src=\"https:\/\/img1.wsimg.com\/isteam\/ip\/7d91a434-98ba-4a63-b1d2-7d4edef38be4\/FINAL_Fintech_report_online_final_07-01.jpg\/:\/cr=t:0%25,l:0%25,w:100%25,h:100%25\/rs=w:1280\" alt=\"\" \/><\/a>\r\n<figcaption>The cover of the Report<\/figcaption>\r\n<\/figure>\r\n\r\n\r\n\r\n<ul>\r\n<li>The estimated number of Bulgarian Fintech companies is 65, which is more than that in any other SEE country;<\/li>\r\n<li>In the last three years the total operating revenue of the fintech sector has more than doubled, maintaining a steady increase of approximately 33.5% on an annual basis;<\/li>\r\n<li>The majority of the Bulgarian Fintech companies operate in the Payments segment.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p><em>Sofia, Bulgaria\u00a0<\/em>\u2013 The Bulgarian Fintech Association recently released\u00a0<a href=\"https:\/\/img1.wsimg.com\/blobby\/go\/7d91a434-98ba-4a63-b1d2-7d4edef38be4\/downloads\/Bulgarian_Fintech_Report_2019.pdf?ver=1568103431603\" target=\"_blank\" rel=\"noreferrer noopener\">the first comprehensive report about the Fintech sector in the country<\/a>. The aim of the research, which was conducted in cooperation with\u00a0<a href=\"https:\/\/seenews.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">SEE News<\/a>, is to provide extensive information about each of the elements of the industry \u2013 from an overview of the fintech ecosystem, through a market analysis of the companies, to the regulatory landscape in Bulgaria. The Report\u2019s main objective is to raise the public awareness about the sector and its most remarkable innovations and achievements by providing an in-depth thorough analysis of the Fintech landscape in Bulgaria.<\/p>\r\n\r\n\r\n\r\n<p><em>\u201cOur mission is to encourage innovation, develop the environment and help Bulgarian Fintechs shine on the world map.\u201d<\/em><\/p>\r\n\r\n\r\n\r\n<p><em><strong>Valeri Valtchev,<\/strong><\/em><\/p>\r\n\r\n\r\n\r\n<p><em><strong>Co-founder and Chairman<\/strong><\/em><\/p>\r\n\r\n\r\n\r\n<p>The Key Findings of the report are indicative of the vitality of the Fintech landscape in the country. The number of the companies that have been identified as Fintechs is 65, 41 of which are emerging and 24 \u2013 established. On average, a Bulgarian Fintech company is six years old as of April 2019. However, more than half of the companies were established after 2015, thus reflecting the key role of startups in the fintech ecosystem.The heart of the Bulgarian fintech ecosystem is the capital Sofia, which boasts significant tech talent and appropriate business infrastructure, with 54 of the identified Fintech companies being headquartered there. The city is one of the fastest growing destinations in SEE and is becoming the fintech centre of the CEE region as well. The local startups are backed not only by a number of venture capital funds, angel organisations and private investors, but also by startup supporting initiatives of local banks.<\/p>\r\n\r\n\r\n\r\n<p>The fintech enterprises cover a wide variety of fintech segments:<\/p>\r\n\r\n\r\n\r\n<ul>\r\n<li>Blockchain\/Crypto<\/li>\r\n<li>Capital Markets<\/li>\r\n<li>Insurance (Insurtech)<\/li>\r\n<li>IT development\/support for fintech<\/li>\r\n<li>Lending<\/li>\r\n<li>Mortgage\/Real Estate<\/li>\r\n<li>Payments\/Billing<\/li>\r\n<li>Personal Finance<\/li>\r\n<li>Regtech<\/li>\r\n<li>Wealth Management<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>Each of the above-mentioned sectors has a \u201crepresentative\u201d company in the country. Still, payments and billing solutions are the most preferred development field for the Bulgarian fintech companies, as nearly 30% of them operate in this segment. Personal finance and capital markets are also popular \u2013 their combined share is close to 30%. IT development companies supporting the fintech sector have an important role in the ecosystem as well, as they account for more than 10% of the total number of firms.<\/p>\r\n\r\n\r\n\r\n<p><em>\u201cWe established the Bulgarian Fintech Association less than two years ago and here we are today \u2013 in a country with over 60 fintechs and a viable and strong ecosystem that grows continuously.\u201d<\/em><\/p>\r\n\r\n\r\n\r\n<p><em><strong>Valeri Valtchev,<\/strong><\/em><\/p>\r\n\r\n\r\n\r\n<p><em><strong>Co-founder and Chairman<\/strong><\/em><\/p>\r\n\r\n\r\n\r\n<p>The main conclusions that have been drawn from the Report indicate that the Fintech sector in the country is very vibrant and develops dynamically, and that there are a number of favourable conditions that stimulate entrepreneurship in the sphere. Although in its very early stages of advancement, the sector in Bulgaria is full of promise for the entrepreneurs in the field.\u00a0<\/p>\r\n\r\n\r\n\r\n<p><strong>About the Bulgarian Fintech Association\u00a0<\/strong><\/p>\r\n\r\n\r\n\r\n<p><em>The Bulgarian Fintech Association is a non-profit organization uniting the leading fintech companies in Bulgaria. The mission of the Association is to create a platform that brings together all parties in Bulgaria with an interest in the Financial Technologies field, and to encourage thecommunication and exchange of ideas among them. The Bulgarian Fintech Association aims at representing and safeguardingthe shared values of its members before regulators, investors, financial institutions, foreign associations, partners and any other party, thus fostering the development of the sector.\u00a0<\/em><\/p>\r\n\r\n\r\n\r\n<p><a href=\"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2019\/09\/Bulgarian_Fintech_Report_2019.pdf\">Download the full Report<\/a>\u00a0\u00a0<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>The estimated number of Bulgarian Fintech companies is 65, which is more than that in any other SEE country; In the last three years the total operating revenue of the fintech sector has more than [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3283,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[115,116],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The First Bulgarian Fintech Report - Fintech Bulgaria<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/\" \/>\n<meta property=\"og:locale\" content=\"bg_BG\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The First Bulgarian Fintech Report - Fintech Bulgaria\" \/>\n<meta property=\"og:description\" content=\"The estimated number of Bulgarian Fintech companies is 65, which is more than that in any other SEE country; In the last three years the total operating revenue of the fintech sector has more than [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Fintech Bulgaria\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/fintechbulgaria\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-09T10:11:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-25T09:18:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2019\/09\/report-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2473\" \/>\n\t<meta property=\"og:image:height\" content=\"1775\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"fintechbg\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 \u043c\u0438\u043d\u0443\u0442\u0438\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/fintechbulgaria.org\/#organization\",\"name\":\"Bulgarian Fintech Association\",\"url\":\"https:\/\/fintechbulgaria.org\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/fintechbulgaria\",\"https:\/\/www.linkedin.com\/company\/fintech-bulgaria\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/fintechbulgaria.org\/#logo\",\"inLanguage\":\"bg-BG\",\"url\":\"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2021\/01\/Home.jpg\",\"contentUrl\":\"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2021\/01\/Home.jpg\",\"width\":1200,\"height\":628,\"caption\":\"Bulgarian Fintech Association\"},\"image\":{\"@id\":\"https:\/\/fintechbulgaria.org\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fintechbulgaria.org\/#website\",\"url\":\"https:\/\/fintechbulgaria.org\/\",\"name\":\"Fintech Bulgaria\",\"description\":\"Fintech Bulgaria\",\"publisher\":{\"@id\":\"https:\/\/fintechbulgaria.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fintechbulgaria.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"bg-BG\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#primaryimage\",\"inLanguage\":\"bg-BG\",\"url\":\"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2019\/09\/report-1.jpg\",\"contentUrl\":\"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2019\/09\/report-1.jpg\",\"width\":2473,\"height\":1775},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#webpage\",\"url\":\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/\",\"name\":\"The First Bulgarian Fintech Report - Fintech Bulgaria\",\"isPartOf\":{\"@id\":\"https:\/\/fintechbulgaria.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#primaryimage\"},\"datePublished\":\"2019-09-09T10:11:04+00:00\",\"dateModified\":\"2022-02-25T09:18:01+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#breadcrumb\"},\"inLanguage\":\"bg-BG\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fintechbulgaria.org\/bg\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The First Bulgarian Fintech Report\"}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#webpage\"},\"author\":{\"@id\":\"https:\/\/fintechbulgaria.org\/#\/schema\/person\/81a3454070aaa1c2f64079ea931a47d1\"},\"headline\":\"The First Bulgarian Fintech Report\",\"datePublished\":\"2019-09-09T10:11:04+00:00\",\"dateModified\":\"2022-02-25T09:18:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#webpage\"},\"wordCount\":637,\"publisher\":{\"@id\":\"https:\/\/fintechbulgaria.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2019\/09\/report-1.jpg\",\"articleSection\":[\"News\",\"Reports\"],\"inLanguage\":\"bg-BG\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fintechbulgaria.org\/#\/schema\/person\/81a3454070aaa1c2f64079ea931a47d1\",\"name\":\"fintechbg\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/fintechbulgaria.org\/#personlogo\",\"inLanguage\":\"bg-BG\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/85d562590f42dbf32944f7cd5114d897?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/85d562590f42dbf32944f7cd5114d897?s=96&d=mm&r=g\",\"caption\":\"fintechbg\"},\"url\":\"https:\/\/fintechbulgaria.org\/bg\/author\/fintechbg\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The First Bulgarian Fintech Report - Fintech Bulgaria","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/","og_locale":"bg_BG","og_type":"article","og_title":"The First Bulgarian Fintech Report - Fintech Bulgaria","og_description":"The estimated number of Bulgarian Fintech companies is 65, which is more than that in any other SEE country; In the last three years the total operating revenue of the fintech sector has more than [&hellip;]","og_url":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/","og_site_name":"Fintech Bulgaria","article_publisher":"https:\/\/www.facebook.com\/fintechbulgaria","article_published_time":"2019-09-09T10:11:04+00:00","article_modified_time":"2022-02-25T09:18:01+00:00","og_image":[{"width":2473,"height":1775,"url":"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2019\/09\/report-1.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"fintechbg","Est. reading time":"3 \u043c\u0438\u043d\u0443\u0442\u0438"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Organization","@id":"https:\/\/fintechbulgaria.org\/#organization","name":"Bulgarian Fintech Association","url":"https:\/\/fintechbulgaria.org\/","sameAs":["https:\/\/www.facebook.com\/fintechbulgaria","https:\/\/www.linkedin.com\/company\/fintech-bulgaria"],"logo":{"@type":"ImageObject","@id":"https:\/\/fintechbulgaria.org\/#logo","inLanguage":"bg-BG","url":"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2021\/01\/Home.jpg","contentUrl":"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2021\/01\/Home.jpg","width":1200,"height":628,"caption":"Bulgarian Fintech Association"},"image":{"@id":"https:\/\/fintechbulgaria.org\/#logo"}},{"@type":"WebSite","@id":"https:\/\/fintechbulgaria.org\/#website","url":"https:\/\/fintechbulgaria.org\/","name":"Fintech Bulgaria","description":"Fintech Bulgaria","publisher":{"@id":"https:\/\/fintechbulgaria.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fintechbulgaria.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"bg-BG"},{"@type":"ImageObject","@id":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#primaryimage","inLanguage":"bg-BG","url":"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2019\/09\/report-1.jpg","contentUrl":"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2019\/09\/report-1.jpg","width":2473,"height":1775},{"@type":"WebPage","@id":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#webpage","url":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/","name":"The First Bulgarian Fintech Report - Fintech Bulgaria","isPartOf":{"@id":"https:\/\/fintechbulgaria.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#primaryimage"},"datePublished":"2019-09-09T10:11:04+00:00","dateModified":"2022-02-25T09:18:01+00:00","breadcrumb":{"@id":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#breadcrumb"},"inLanguage":"bg-BG","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fintechbulgaria.org\/bg\/"},{"@type":"ListItem","position":2,"name":"The First Bulgarian Fintech Report"}]},{"@type":"Article","@id":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#article","isPartOf":{"@id":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#webpage"},"author":{"@id":"https:\/\/fintechbulgaria.org\/#\/schema\/person\/81a3454070aaa1c2f64079ea931a47d1"},"headline":"The First Bulgarian Fintech Report","datePublished":"2019-09-09T10:11:04+00:00","dateModified":"2022-02-25T09:18:01+00:00","mainEntityOfPage":{"@id":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#webpage"},"wordCount":637,"publisher":{"@id":"https:\/\/fintechbulgaria.org\/#organization"},"image":{"@id":"https:\/\/fintechbulgaria.org\/bg\/our-blog-f-the-first-bulgarian-fintech-report\/#primaryimage"},"thumbnailUrl":"https:\/\/fintechbulgaria.org\/wp-content\/uploads\/2019\/09\/report-1.jpg","articleSection":["News","Reports"],"inLanguage":"bg-BG"},{"@type":"Person","@id":"https:\/\/fintechbulgaria.org\/#\/schema\/person\/81a3454070aaa1c2f64079ea931a47d1","name":"fintechbg","image":{"@type":"ImageObject","@id":"https:\/\/fintechbulgaria.org\/#personlogo","inLanguage":"bg-BG","url":"https:\/\/secure.gravatar.com\/avatar\/85d562590f42dbf32944f7cd5114d897?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/85d562590f42dbf32944f7cd5114d897?s=96&d=mm&r=g","caption":"fintechbg"},"url":"https:\/\/fintechbulgaria.org\/bg\/author\/fintechbg\/"}]}},"_links":{"self":[{"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/posts\/4025"}],"collection":[{"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/comments?post=4025"}],"version-history":[{"count":1,"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/posts\/4025\/revisions"}],"predecessor-version":[{"id":4026,"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/posts\/4025\/revisions\/4026"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/media\/3283"}],"wp:attachment":[{"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/media?parent=4025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/categories?post=4025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fintechbulgaria.org\/bg\/wp-json\/wp\/v2\/tags?post=4025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}