With the recent announcement regarding the COVID-19 outbreak in Bulgaria, Europe and the rest of the world, the Bulgarian Fintech Association expresses its support to the World Health Organization call and applies the measures taken by the Bulgarian authorities to combat the Coronavirus, among which social distancing and restrictions of large gatherings.
We believe that in these challenging times the digital services offered by our member companies will help overcome the pandemic. For this reason, we call upon every citizen to stay at home but to not turn off their social activities, on the contrary, to use all digital tools and solutions to keep their life and business as usual.
THE 2020 BULGARIAN FINTECH REPORT
Some of our key findings:
- The estimated number of Bulgarian Fintech companies is 100;
- In the last three years the total operating revenue of the fintech sector is rapidly growing, maintaining a steady increase of approximately 25% on an annual basis;
- In 2020 Fintech companies in Bulgaria hit an all-time high operating revenue of EUR 361 million;
- The majority of the Bulgarian Fintech companies operate in the Payments segment, followed by Blockchain and Capital Markets segments;
- In 2019, VC Fintech Investments equal to 1/3 of all VC investments in Bulgaria;
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 bringing together all parties in Bulgaria with an interest in Financial Technologies and to encourage the communication and exchange of ideas among them. The Bulgarian Fintech Association aims at representing and safeguarding the shared values of its members before regulators, investors, financial institutions, foreign associations, partners and any other party and thus, to foster the development of the sector.