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Top 10 Startup Investors in Bulgaria (July 2026)

The most active venture capital funds and angel investors investing in Bulgaria Venture Capital startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Bulgaria Venture Capital startup companies. Find investors to raise a Pre-Seed, Seed or Angel round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Zoran Arsovski
Angel
2 Bulgaria, Turkey, United States Seed, Angel, Pre-Seed Software, FinTech, Internet $219k–$6.9M
Svetozar Georgiev
Angel
2 United Kingdom, Bulgaria, Greece Seed, Pre-Seed, Angel Software, SaaS, FinTech $110k–$3.2M
Georgi Atanasov
Angel
2 Bulgaria Angel SaaS, Software, Venture Capital
Emil Tabakov
Angel
2 Bulgaria Angel, Pre-Seed SaaS, Software, Venture Capital
MFG Invest
VC Fund
1 Bulgaria, France, United Kingdom Seed, Pre-Seed, Series A Software, Information Technology, FinTech $108k–$6.9M
Mihail Stoychev
Angel
1 Bulgaria Seed, Angel, Pre-Seed SaaS, Apps, Shipping
Georgi Petrov
Angel
1 Bulgaria, United States, Croatia Pre-Seed, Angel, Seed SaaS, Software, E-Commerce $283k–$875k
Faris Sweis
Angel
1 Bulgaria Angel SaaS, Software, Venture Capital
Sofia Angels Ventures
VC Fund
1 Bulgaria, United Kingdom, Germany Seed, Pre-Seed, Series A Software, Artificial Intelligence, Machine Learning $108k–$11M
Pressian Karakostov
Angel
1 Bulgaria Seed, Pre-Seed SaaS, Software, Consulting $562k–$2.5M
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Investor list

Zoran Arsovski
Angel · Sofia, Grad Sofiya, Bulgaria · 2 investments in Bulgaria Venture Capital startups

Zoran and his team focus on Digital Marketing Consulting for B2B growth-stage companies supported by the leading technology VC funds.

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Investment focus

  • Industry: Software, FinTech, Internet
  • Stage:Seed, Angel, Pre-Seed
  • Geography: Bulgaria, Turkey, United States

Investor stats

  • Total investments: 11
  • Round size: Seed $870k–$6.9M; Angel $219k–$430k; Pre-Seed $660k–$901k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Magfi — A search engine that analyzes communities into WhatsApp, Telegram, and Discord with AI, ML, and NLP and places ads with micro-targeting.
  • Visibilio — We build AI agents for content creation - helping companies connect with customers and powering the intelligence hubs strategic sectors need to make better decisions and move faster.
  • Native Teams — Hire anyone, anywhere with Native Teams. Use EOR and PEO services to employ global talent or get compliant employment as a freelancer.
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Svetozar Georgiev
Angel · Sofia, Grad Sofiya, Bulgaria · 2 investments in Bulgaria Venture Capital startups

Svetozar Georgiev is the Chairman of the Board at BESCO. He attended American University in Bulgaria, Truman State University, and Technology School Electronic Systems (TUES), both associated with Technical University-Sofia.

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Investment focus

  • Industry: Software, SaaS, FinTech
  • Stage:Seed, Pre-Seed, Angel
  • Geography: United Kingdom, Bulgaria, Greece

Investor stats

  • Total investments: 18
  • Round size: Seed $110k–$3.2M; Angel $165k–$219k; Pre-Seed $138k–$1.1M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • Payhawk — Payhawk is a spending software that simplifies expenses, payments, and card spending for growing businesses. The company's platform enables financial officers and business owners to manage the entire spending lifecycle end-to-end. It collects and analyzes receipts, invoices, and card transactions to help stay in control of the budget with nopaperwork for the employees. With its paperless corporate card linked to an automated expense management, Payhawk provides a product on top of existing banks.Payhawk was founded in 2018 and is headquartered in London, England.
  • Reloyalty — We turn every bank card in Europe into a loyalty card. Reloyalty is a fully automated and personalised loyalty platform on top of card payments leveraging Open Banking / PSD2. We enable users to connect existing bank cards to Reloyalty and unlock 10-50% in reward value from their every day shopping. Participating retailers and banks can getaccess to data about their most valuable customers based on purchasing patterns and launch loyalty campaigns with measurable ROI.Reloyalty was founded with the goal of helping businesses identify their most passionate customers and helping those people get treated as such. They believe that the their relationship with the places where they shop, eat and meet with people are more than transactional.
  • Icanpreneur — Icanpreneur is an AI co-founder platform that helps validate ideas, products, and growth opportunities, then turns customer insights into buyer personas, go-to-market strategy, and launch-ready assets.
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Georgi Atanasov
Angel · Sofia, Grad Sofiya, Bulgaria · 2 investments in Bulgaria Venture Capital startups

Georgi Atanasov

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Investment focus

  • Industry: SaaS, Software, Venture Capital
  • Stage:Angel
  • Geography: Bulgaria

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Icanpreneur — Icanpreneur is an AI co-founder platform that helps validate ideas, products, and growth opportunities, then turns customer insights into buyer personas, go-to-market strategy, and launch-ready assets.
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Emil Tabakov
Angel · Sofia, Grad Sofiya, Bulgaria · 2 investments in Bulgaria Venture Capital startups

Senior Product Manager @ Coursera (NYSE: COUR). Ex-Telerik/Ex-Progress (NASDAQ: PRGS) Emil is passionate about building products that people love, building effective teams, talent development and working on open source products.

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Investment focus

  • Industry: SaaS, Software, Venture Capital
  • Stage:Angel, Pre-Seed
  • Geography: Bulgaria

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Icanpreneur — Icanpreneur is an AI co-founder platform that helps validate ideas, products, and growth opportunities, then turns customer insights into buyer personas, go-to-market strategy, and launch-ready assets.
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MFG Invest
VC Fund · Sofia, Grad Sofiya, Bulgaria · 1 investments in Bulgaria Venture Capital startups

MFG Invest was established by a group of angel investors with the goal of financing venture capital.

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Investment focus

  • Industry: Software, Information Technology, FinTech
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Bulgaria, France, United Kingdom

Investor stats

  • Total investments: 13
  • Round size: Seed $108k–$6.9M; Pre-Seed $110k–$901k
  • Lead/follow: 46% lead, 54% follow

Portfolio highlights

  • Paypercut — Paypercut is a fintech startup that allows small and mid-scaled merchants to offer Buy Now, Pay Later at checkout via a single integration.
  • Native Teams — Hire anyone, anywhere with Native Teams. Use EOR and PEO services to employ global talent or get compliant employment as a freelancer.
  • Tiger Technology — Turn storage into competitive advantage with Tiger Bridge. Cut costs 60%, improve utilization 10X, seamless cloud extension without changing workflows.
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Mihail Stoychev
Angel · 1 investments in Bulgaria Venture Capital startups

Mihail Stoychev - Founder and CEO @ SMSBump

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Investment focus

  • Industry: SaaS, Apps, Shipping
  • Stage:Seed, Angel, Pre-Seed
  • Geography: Bulgaria

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Rush — Rush helps Shopify brands increase repeat sales, customer loyalty, and product reviews with a branded order tracking experience shoppers dream about.
  • Icanpreneur — Icanpreneur is an AI co-founder platform that helps validate ideas, products, and growth opportunities, then turns customer insights into buyer personas, go-to-market strategy, and launch-ready assets.
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Georgi Petrov
Angel · 1 investments in Bulgaria Venture Capital startups

CEO and Co-Founder of UXIFY. Co-Founder of NitroPack (exited to WP Engine in 2024) and SMSBump (exited to Yotpo in 2020).

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Investment focus

  • Industry: SaaS, Software, E-Commerce
  • Stage:Pre-Seed, Angel, Seed
  • Geography: Bulgaria, United States, Croatia

Investor stats

  • Total investments: 7
  • Round size: Pre-Seed $283k–$875k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • GoAudience — GoAudience is the marketing intelligence platform that helps e-commerce brands find and convert high-intent buyers using exclusive spending data from 220M consumers.
  • Pricemind
  • Recommend — Recommend develops predictive market intelligence infrastructure for commercial teams and AI-powered platforms. The company uses a purpose-built behavioral model and real-time signal processing to detect, predict, and act on market demand before it appears in traditional analytics. Its platform provides tools for demand discovery, campaignactivation, performance intelligence, and predictive APIs that enterprises and agencies integrate into marketing, media planning, and commercial decision workflows. Recommend also maintains infrastructure for large-scale ingestion, clustering, and scoring of market signals across news, social, search, and behavioral data sources. The company's products are primarily used by global agencies, enterprise brands, and platform partners building demand-driven commercial applications.
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Faris Sweis
Angel · Sofia, Grad Sofiya, Bulgaria · 1 investments in Bulgaria Venture Capital startups

CTO at Progress Software Corp.

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Investment focus

  • Industry: SaaS, Software, Venture Capital
  • Stage:Angel
  • Geography: Bulgaria

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Icanpreneur — Icanpreneur is an AI co-founder platform that helps validate ideas, products, and growth opportunities, then turns customer insights into buyer personas, go-to-market strategy, and launch-ready assets.
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Sofia Angels Ventures
VC Fund · Sofia, Grad Sofiya, Bulgaria · 1 investments in Bulgaria Venture Capital startups

Agri supply chain tech and finance solutions.World best visual search platformImproving transportation industry via advanced technology and

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Investment focus

  • Industry: Software, Artificial Intelligence, Machine Learning
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Bulgaria, United Kingdom, Germany

Investor stats

  • Total investments: 21
  • Round size: Seed $657k–$2.9M; Pre-Seed $108k–$901k; Series A $9.8M–$11M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Ogre AI — Ogre AI is a data science company specializing in machine learning and artificial intelligence solutions
  • Fabrico SaaS — Fabrico is a cloud-based CMMS, which manages all the maintenance processes in a production plant by integrating end-to-end maintenance strategies in a lean way.
  • Blue Longevity — Blue Longevity is a supplier of longevity medicine that offers evidence-based, individualized, and integrated approaches to improve longevity and encourage good aging. It uses digital coaching in conjunction with state-of-the-art diagnostics, lifestyle medicine, and regenerative therapies to develop customized workout, stress-reduction, and dietplans.
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Pressian Karakostov
Angel · Varna, Varna, Bulgaria · 1 investments in Bulgaria Venture Capital startups

Pressian Karakostov is a Founder and Chairman at PhoneArena company. Pressian previously worked at PubGalaxy as a Founder and Chairman. He attended Harvard Business School Executive Education in 2017.

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Investment focus

  • Industry: SaaS, Software, Consulting
  • Stage:Seed, Pre-Seed
  • Geography: Bulgaria

Investor stats

  • Total investments: 4
  • Round size: Seed $562k–$2.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Outdid — Verify identities with no storage, processing, or access of private personal information
  • Swipe.bg — Swipe.bg is the first Bulgarian platform for buying and selling second-hand mobile phones.
  • Icanpreneur — Icanpreneur is an AI co-founder platform that helps validate ideas, products, and growth opportunities, then turns customer insights into buyer personas, go-to-market strategy, and launch-ready assets.
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Venture Capital Investor funding in Bulgaria at a glance

Stats across 3 deals from 12 investors.

12
investors
in Bulgaria Venture Capital startups
3
deals
in Bulgaria Venture Capital startups
$560k
median round
in Bulgaria Venture Capital startups
8%
lead investors
lead at least one round
33%
Pre-Seed
most common funding stage
25/75
VC / Angel
share of investor count

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