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Sofia Fintech Mapping 2020 Fintech Sofia - 2020 SOFIA FINTECH MAPPING 2020 FINTECH SOFIA - 2020 Fintech, short for financial technology, represents the effect of new technologies on the financial sector. The term Fintech stands for new business approaches, products, and services that remodel the common understanding of financial and banking services. Fintech could be any company, whose core business is related to the creation or use of technologies, enabling innovations, facilitating the offering, access, and/or usage of financial services, etc. Historically, the application of innovation and technology in finance in Bulgaria dates back to the late 1960s when the first computers were installed in the Bulgarian banks. Ever since then, despite any economic and political obstacles, Bulgaria has always managed to keep up with financial technology . SOFIA FINTECH LANDSCAPE 2020 Bulgarian Fintech Ecosystem In 2020 Although in 2020 the world is going through an unprecedented crisis devastating for many companies, Fintech has proven comparatively resilient during the COVID-19 pandemic. 3% 3% In 2020, the Bulgarian Fintech ecosystem consists of: • about 100 Fintech companies 4% • operating in 9 different Fintech segments • covering the whole range of products and services 6% • an ever-growing number of startups, VC funds, and angel investors 34% • over 90 IT companies, providing software products and services for Fintechs 7% Figure 1 shows the healthy diversification of the Bulgarian Fintech industry: • the payments/billing segment is the largest contributor to Fintech in the country, followed by lending and capital markets • other booming segments are blockchain/crypto, insurance, and personal finance business, 8% which accumulate about ¼ of all Fintechs in Bulgaria 9% Sofia - The SEE Fintech Hub 13% Sofia, the capital of Bulgaria, is the most preferred location with 83 of the Fintech companies 11% being headquartered there. According to the 2020 Global Fintech Index (GFI), three countries in the region are among the 60 best Fintech ecosystems in the world: Slovenia, Bulgaria, and Romania. At a city level, Sofia is the leading Fintech location in SEE, according to GFI, followed by Ljubljana, Bucharest, and Cluj-Napoca, all of them in the Top 50 in Europe. Payments/Billing Insurance Capital Markets Mortgage/Real Estate With innovation and digitalization at its core, Fintech companies significantly contribute to boosting any country’s potential for innovation and new technologies. For developing Lending Wealth Management countries such as Bulgaria, the Fintech industry is one of a few opportunities for catching up and developing a highly efficient economy. In this sense, although Bulgaria’s Fintech industry Blockchain Regtech is a comparatively small contributor to the GDP, it is very important for the overall efficiency and modernization of the economy. Ultimately, creating and developing more Fintech business Personal Finance Infrastructure models in Bulgaria puts the country on the map of Future Finance. SOFIA FINTECH MAPPING 2020 FINTECH COMPANIES IT DEVELOPMENT/ PAYMENTS/BILLING LENDING SUPPORT FOR FINTECH CAPITAL MARKETS PERSONAL FINANCE INSURANCE INFRASTRUCTURE BLOCKCHAIN/CRYPTO REGTECH WEALTH MORTGAGE/REAL ESTATE MANAGEMENT SOFIA ENTREPRENEURIAL ECOSYSTEM REGULATORS SUPPORING ORIGANISATIONS ENTREPRENEURIAL ORGANISATIONS SOPHIA LAB EVENTS AND CONFERENCES ACCELERATORS AND INCUBATORS UNIVERSITIES AND IT ACADEMIES UNIVERSITIES VCs AND PE FUNDS IT SCHOOLS & SOFTWARE ACADEMIES DIGITAL AND INNOVATIVE COWORKING AND MAKER SPACES MEDIA The information gathering for this mapping is done by the Bulgarian Fintech Association in collaboration with Innovative Soa. If you have any concerns about the mapping, please address them to: [email protected] FINTECH COMPANIES IN SOFIA FINTECH ECOSYSTEM PAYMENTS/BILLING PERSONAL FINANCE REGULATORS ENTREPRENEURIAL ORGANISATIONS https://www.bunq.com/Bunq BillButlerhttps://www.mybillbutler.uk/ https://www.bnb.bg https://www.ablebulgaria.org/en/http://edit.bg/ https://www.checkout-x.com/Checkout X CashWavehttps://cashwave.io/ • Bulgarian National Bank • Association of the Bulgarian Leaders and Entrepreneurs (ABLE) • Economic Development via Innovation&Technology (Edit.bg) https://www.facebook.com/Bulgarian-Association-of-Business-Angels-879800625451016/ https://www.endeavor.bg/ http://www.datecs.bg/bgDatecs Charliehttps://www.hicharlie.com/ Finance • https://www.cpdp.bgCommission for Personal Data Protection • Bulgarian Association of Business Angels • Endeavor Bulgaria https://www.fsc.bg https://www.bcci.bg/en.html http://investsoa.com/wp-content/uploads/2018/07/FISP_webit_OGFMSP_PDF_07June2018.pdf http://www.datecspay.bg/DatecsPay Groupayerhttps://www.linkedin.com/company/groupayer/about/ • Financial Supervision Commission • Bulgarian Chamber of Commerce and Industry (BCCI) • Enterprise Europe Network Bulgaria (EEN Bulgaria) • https://www.dans.bgState Agency for National Security • Bulgarianhttps://www.bia-bg.com Industrial Association (BIA) • Europeanhttp://bvca.bg/en/ Business Angels Network (EBAN) https://easyps.bg/?lang=bgEasy Payment Services Reloyaltyhttps://reloyalty.com/ https://bvca.bg/en/http://gemorg.bg/ https://ecollect.org/eCollect Rewardshttp://rewardslabs.com/ Labs • Bulgarian Private Equity and Venture Capital Association (BVCA) • Global Entrepreneurship Monitor Bulgaria (GEM) https://besco.bg/ https://innovationcenter.tech/ https://www.emerchantpay.com/Emerchantpay Spendublehttps://spenduble.com/ • Bulgarian Startup Association (BESCO) • Innovation Center Inc. • https://ceoclub.bg/angels/CEO Angels Club • Move.bghttps://move.bg/ https://www.epay.bg/v3main/frontePay World http://www.world-vipclub.com/ VIP Club https://icard.com/bgiCard https://www.irisbgsf.com/ Iris Solutions BLOCKCHAIN/CRYPTO VCs & PE FUNDS ACCELERATORS & INCUBATORS DIGITAL & INNOVATIVE COWORKING AND MAKER SPACES https://limepay.io/https://www.emerchantpay.com/Lime Pay EOOD Bonexxhttps://bonex.bg/ https://mabsut.com/Mabsut Technologies Bulgaria Forishttps://crypto.com/en/ Europe • http://www.blackpeak-capital.com/BlackPeak Capital • Bulgariahttps://www.bghub.io/ Innovation Hub • Betahaushttps://betahaus.bg/en/ https://www.mypos.eu/bgmyPOS Finraxhttps://nrax.com/ • https://brightcap.vc/BrightCap Ventures • https://www.campusx.company/Campus X • CampusXhttps://www.campusx.company/ https://payhawk.com/Payhawk InchainZhttps://www.inchainz.com/ • https://www.11.me/Eleven Ventures • https://www.endeavor.bg/dare-to-scale-growth-program/Dare to Scale by Endevor • Cherryz.workhttps://cherryz.work/ https://paynetics.digital/Paynetics Jarvishttps://jarvis.market/ Exchange • http://empowercapital.net/Empower Capital • https://elevator-lab.com/Elevator Lab by Raiffeisenbank • Cosharehttp://cosharehive.com/ HIVE https://www.f6s.com/payomy.comPayomy Nexohttps://nexo.io • http://www.entrea-capital.com/Entrea Capital • https://www.facebook.com/FounderInstituteSoa/Founder Institute Sofia • Groworkinghttps://www.facebook.com/groworking.space/ Space and Club House by Sofia Tech Park https://www.paysafe.com/na-en/Paysafe Tradexsocialhttps://tradexsocial.com/ • https://www.linkedin.com/company/impetus-capital/Impetus Capital • https://www.facebook.com/InnovationStarterAccelerator/Innovation Starter Accelerator • inithttps://initlab.org/?lang=en Lab https://www.paysera.bg/v2/bg-BG/indexPaysera xChange.bghttps://xchange.bg/ • https://www.innovationcapital.bg/Innovation Capital • https://soatech.bg/en/Sofia Tech Park • JAhttps://hambar.jabulgaria.org/ Startup Hambar https://payware.eu/Payware weiDexhttps://weidex.market/ • https://launchub.com/LAUNCHub Ventures • http://www.startitsmart.com/en/Start It Smart • Missia23https://missia23.com/ https://phos.cloud/Phos • http://www.morningsidehill.com/Morning Side Hill Fund • https://investsoa.com/en/accelerator-startup-soa/Startup Sofia Accelerator • Microsofthttps://www.facebook.com/pg/MICBulgaria/about/?ref=page_internal Innovation Center https://www.phyreapp.com/Phyre INSURANCE • https://neoventures.net/Neo Ventures • https://visa.11.me/Visa|Eleven Innovation Program • Coworkinghttps://www.networking.space/ Premium Spaces with Networking Premium Accelerator https://www.paymentwall.com/Ramensofia Boleronhttps://boleron.bg/ • Newhttps://www.newvision3.com/ Vision 3 (NV3) • Puzlhttps://www.puzl.com/ CowOrKing https://www.safecharge.com/SafeCharge Colibrahttps://www.colibra.io/bg/ • https://www.postscriptum.com/PostScriptum Ventures • Resonatorhttps://www.facebook.com/pages/category/Community-Center/Resonator-1751442668488900/ Co-innovation Hub https://sumup.bg/SumUp iPORThttps://iport.bg/ • https://www.rosslyncp.com/Rosslyn Capital Partners • Sofiahttps://soatech.bg/en/incubator/ Tech Park Incubator https://tickey.me/Tickey Olihttps://getoli.bg/bg/ • https://www.vitosha.vc/Vitosha Venture Partners • Sofiahttps://www.facebook.com/soalabsda/ Lab https://www.tide.co/Tide Pension.Carehttps://pension.care • Thishttps://www.thisway.com/ Way Coworking Hub http://www.tixi.bg/TiXi Sirmahttps://sirmaics.com/ ICS • Work&Sharehttps://www.workandshare.io/ SUPPORTING ORGANISATION https://transact.eu/#HomeTransact Europe VirtualBrokerhttps://www.virtualbroker.eu/ https://www.tis.biz/en/our-company/contact/Treasury Intelligence Solutions Bulgaria • https://aicluster.bg/AI Cluster Bulgaria • GATEhttps://www.gate-coe.eu/about.html Centre of Excellence (CoE) https://www.winpos.com/homepageWIN POS MORTGAGE/REAL ESTATE • Association for Innovation, Business Excellence, Services and • GIShttps://www.gis-soa.bg/bg/ Sofia https://xenia-solutions.com/Xenia Solutions Gaidahttps://enoti.bg/
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