Bulgaria's technology sector has long been defined by an exodus of skilled workers seeking opportunities abroad in places like London and Silicon Valley. That narrative is changing. The country is now producing homegrown companies that attract international investment and compete worldwide—a transformation that signals a fundamental shift in the region's entrepreneurial trajectory.
This evolution took center stage at The Bulgarian Edit: Beyond Borders, a three-day programme held in London and organized by The Bridger Network, BG Founders Club, BBCC Expansion Bridge, Bulgarian Angels Club, Millennium Club Bulgaria, and Bulgarian Professionals UK.
The €500 million proof point
Few stories better illustrate Bulgaria's transition from exporting individual talent to exporting entire enterprises than that of myPOS. Founded by Hristo Georgiev, the fintech venture stands as a concrete example of what Bulgarian entrepreneurship can accomplish at scale.
Georgiev's path to founding myPOS began at age 19 in software development, later shifting into finance before launching his own venture. The core insight was straightforward: small merchants lacked an efficient way to accept card payments without lengthy settlement delays. Yet Georgiev emphasized that technical excellence alone was insufficient. The product needed to address a genuine market gap that existing players were unwilling to tackle.
His interactions with London-based investors reinforced this principle. Success required more than functional technology; it demanded solving a problem that large financial institutions had structural reasons to ignore—not because they lacked capability, but because solving it held no strategic interest.
You don't need the most complex solution or the most unique product. Sometimes, the opportunity is simply to solve a problem that no one else is interested in solving.
Hristo Georgiev
When Advent International acquired myPOS in a transaction valued at approximately €500 million, the company had expanded to operate across 18 countries. This exit represented far more than a single financial success; it demonstrated to the world that Bulgarian-founded enterprises could achieve substantial scale and secure backing from premier global private equity investors.
The €15 billion value of Bulgaria's diaspora
The gathering underscored the remarkable scale of achievements by Bulgarian founders, often accomplished with limited international visibility. Galina Markova of the Bulgarian Angels Club revealed that the enterprise value of Bulgaria's entrepreneurial ecosystem has reached substantial proportions. When including unicorns established by Bulgarians worldwide, the total value reaches an estimated 15.3 billion euros.
International growth rarely materializes through isolated connections. This reality highlights the essential role of coordinated ecosystem support. Gery Valova, founder of BG Founders Club, emphasized during the event: "Not only financial capital, but relationships, expertise and access to people who can help a founder understand a new market."
No single organization can supply everything founders require. Rather, multiple institutions addressing different needs create pathways that facilitate progression through various stages of development.
The value of an ecosystem is what happens between organisations
Nikola Likov, Chairman of The Bridger Network
Turning a blank canvas into a global brand
Creating companies capable of global scale demands systematic infrastructure—an area where the diaspora plays a pivotal role. When Bulgarian ventures expand internationally, they carry not only their products but also their nation's reputation. Oliver Yonchev, co-founder of AI company Potentially, argued that Bulgaria's absence of a dominant global brand narrative actually constitutes an advantage rather than a liability. While countries like Estonia and Albania have successfully crafted powerful international identities, Bulgaria remains an undefined space ready for new definition.
Author Ivaylo Kunev stressed that diaspora members need not physically return home to meaningfully support the local ecosystem. Instead, they can actively invest in emerging Bulgarian entrepreneurs and guide them through fiercely competitive global markets.
The diaspora is not something Bulgaria needs to bring back
Ivaylo Kunev
Kunev and Mitko Yankov of Metasim propose reconceptualizing the diaspora. Rather than viewing it simply as individuals who departed and might eventually return, it functions as "an international network of knowledge, relationships, capital and market access."
A 100 faces of Bulgarian stories in the UK
The programme concluded with recognition of 100 accomplished Bulgarians based in the UK, though the more compelling question concerns what unfolds next. The transition from talent exporter to a generator of scalable global enterprises is actively underway. With appropriate infrastructure, robust diaspora connections, and additional successes comparable to myPOS, Bulgaria's capacity to build internationally is no longer uncertain—only who will achieve it next remains to be seen.
Source: The Recursive — Events tag
