Bulgaria startup funding
European tech funding profile
108 startups in Bulgaria have closed 122 funding rounds and raised €815M in equity funding (excluding debt and grants) and recorded 32 exits. Debt rounds added €29M. Software is the most active sector, and Eleven Ventures is the most active investor. Data as of 4 Nov 2026.
#30 in Europe by equity raised — 0.1% of all European startup equity funding.
Equity funding
€815M
excl. debt & grants · +€29M debt
Funding rounds
122
Companies
108
Named investors
151
Exits
32
Funding over time
2010–2026 · 2026 YTD — equity € raised vs roundsBulgaria — funding over time — interactive chart.
Data table
| Equity | Rounds | |
|---|---|---|
| 2010 | €0 | 1 |
| 2012 | €400k | 8 |
| 2013 | €20M | 17 |
| 2014 | €339k | 3 |
| 2015 | €2.9M | 6 |
| 2016 | €5.0M | 2 |
| 2018 | €7.0M | 2 |
| 2019 | €0 | 1 |
| 2020 | €5.7M | 3 |
| 2021 | €123M | 7 |
| 2022 | €166M | 12 |
| 2023 | €42M | 22 |
| 2024 | €54M | 11 |
| 2025 | €187M | 12 |
| 2026 | €201M | 9 |
Top performing sectors
by € raised| Space | €341M | |
| Fintech | €279M | |
| Software | €83M | |
| Transportation | €44M | |
| Energy | €42M | |
| Agritech | €13M |
Fastest growing sectors
2025 vs 2024 by € raised| Software | ▲ +14.8% |
Top sectors
by deal countBulgaria — top sectors — interactive chart.
Data table
| Bulgaria — top sectors | |
|---|---|
| Software | 35 |
| Fintech | 18 |
| E-commerce | 16 |
| Space | 7 |
| Transportation | 7 |
| Legaltech | 6 |
| Media | 6 |
| Agritech | 5 |
| Energy | 4 |
| Travel | 4 |
Stage mix
by € raisedBulgaria — stage mix — interactive chart.
Data table
| Bulgaria — stage mix | |
|---|---|
| Other | €439M |
| Series B | €221M |
| Series A | €78M |
| Seed | €47M |
| Debt | €29M |
| Growth/Late | €19M |
| Pre-Seed | €9.4M |
| Grant | €2.5M |
| Crowdfunding | €1.5M |
Top deals
largest disclosed rounds| Company | Stage | Date | Amount |
|---|---|---|---|
| EnduroSat | Other | Sep 2026 | €178M |
| Payhawk | Series B | Nov 2021 | €99M |
| EnduroSat | Other | Oct 2025 | €90M |
| Payhawk | Series B | Mar 2022 | €90M |
| EnduroSat | Other | May 2025 | €43M |
| SPARK Technologies | Other | Jan 2022 | €30M |
| Alcatraz AI | Series A | Sep 2022 | €25M |
| Ampeco | Series B | Nov 2024 | €25M |
| EnduroSat | Other | Feb 2025 | €20M |
| Cash Credit | Growth/Late | Aug 2013 | €19M |
Top investors
named, by deal count| Eleven Ventures | 17 |
| LAUNCHub Ventures | 15 |
| Vitosha Venture Partners | 8 |
| BlackPeak Capital | 5 |
| Sofia Angels Ventures | 5 |
| New Vision 3 | 5 |
| MFG Invest | 4 |
| Endeavor Catalyst | 4 |
| Silverline Capital | 4 |
| Eleven Accelerator Venture Fund | 4 |
Top cities
by € raised| Sofia | €780M | 107 | |
| Petrich | €2.6M | 1 | |
| Plovdiv | €1.8M | 1 |