Bulgaria's Startup Boom: Over €1B Invested as First Unicorn Emerges

March 11, 2024
Bulgaria's Startup Boom: Over €1B Invested as First Unicorn Emerges
  • Bulgaria's startup ecosystem is experiencing significant growth, with over 800 startups and a focus on deep tech and AI.

  • The country has attracted €1B in investment over the past five years, demonstrating strong investor confidence.

  • Supportive government initiatives, strategic location, skilled workforce, and beneficial tax policies contribute to Bulgaria's startup success.

  • The venture capital scene in Bulgaria has matured, with a notable increase in VC funds and a total of €500M capital under management.

  • Bulgaria's first unicorn, Payhawk, emerged in 2022 with a valuation of $1B, highlighting the potential for high-value startups in the region.

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Bulgaria’s Startup Ecosystem for Beginners: 10 Key Facts

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