# Bulgarian Development Bank

> Bulgarian Development Bank is a VC fund in Sofia backing Finance, Software and Health Care. See 4 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Sofia, Bulgaria
- Total investments: 4
- Last investment: Jun 2024
- Lead investor: 100%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/bbrbg
- Website: https://bbr.bg/en
- Facebook: https://www.facebook.com/pg/BulgarianDevelopmentBank/

Bulgarian Development Bank (BDB) is a financial institution 99.9%-owned by the Bulgarian state. It was established in 1999 as the Encouragement Bank with main focus to support small and medium-sized enterprises. BDB is among the top four Bulgarian banks in terms of credit rating, rated "BBB" with a positive outlook by Fitch Ratings. It isthe only Bulgarian bank to provide direct financing as well as financing via other credit institutions. BDB is the best-positioned local bank to raise funds from international partners. Its subsidiaries are the National Guarantee Fund, which issues guarantees for bank loans to the non-financial sector; the Micro Financing Institution Jobs, which provide financing to SMEs and start-ups; the Capital Investments Fund as well as the BDB Leasing and BDB Factoring.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1.1M–$2.7M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Finance | 1 | 25% |
| Software | 1 | 25% |
| Health Care | 1 | 25% |
| Financial Services | 1 | 25% |
| Information Technology | 1 | 25% |

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 2 | 50% |
| Pre-Seed | 1 | 25% |
| Debt Financing | 1 | 25% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Quendoo | Travel PaaS | $1.1M | Seed | Jun 24, 2024 |  |
| Evrotrust | Best way to prove who you are and agree to anything, anywhere. Fully legal, secure and personal. Our mobile first eIDAS solution allows: eID, eSign, eTimestamp, eSeal, eDelivery with the highest status – qualified | $2.7M | Pre-Seed | Feb 10, 2023 |  |
| Evrotrust | Best way to prove who you are and agree to anything, anywhere. Fully legal, secure and personal. Our mobile first eIDAS solution allows: eID, eSign, eTimestamp, eSeal, eDelivery with the highest status – qualified | $2.7M | Seed | Feb 10, 2023 |  |
| MedLease | MedLease specializes in financing solutions for healthcare SMEs, young healthcare professionals and patients. Doctors, partnering clinics and MedLease all share the same end customer – the patient. The company strives to achieve synergy via helping young professionals improve their qualification, financing smaller clinics purchase modern machinesfor treatment/diagnostics and provide the patients with reliable and transparent socially responsible healthcare financing solutions. MedLease believes that this synergy based business model provides trickle down effects that benefits and improves the quality of life of the end customer. | $1.1M | Debt Financing | Dec 15, 2021 |  |

4 of 4 investments shown.

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## Featured in investor lists
- [All Investors in Bulgaria](https://shizune.co/investors/investors-bulgaria)
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## FAQ

### What does Bulgarian Development Bank invest in?

Bulgarian Development Bank invests primarily in Finance, Software and Health Care startups, most often at Seed and Pre-Seed stage. Most of the 4 investments tracked by Shizune back companies in Bulgaria. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Bulgarian Development Bank's check size?

Bulgarian Development Bank typically joins rounds of $1.1M–$2.7M at Seed. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Bulgarian Development Bank participates in.

### When did Bulgarian Development Bank last invest?

The most recent investment recorded for Bulgarian Development Bank closed in Jun 2024. Shizune tracks 4 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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