Bulgaria provides grants and funding for fintech startups through programs like the Operational Programme Innovations and Competitiveness (OPIC), which targets tech-driven SMEs, including fintech companies. Sofia has become a regional hub for fintech innovation, hosting firms like Payhawk and companies focused on cryptocurrency and RegTech.
Bulgaria has developed entrepreneurship programs for women and youth in fintech, encouraging diversity in the sector. Neighboring CEE countries could replicate Bulgaria’s funding mechanisms, targeting sectors like blockchain and RegTech.Sofia has actively branded itself as a fintech hub through marketing campaigns emphasizing its low operational costs, skilled IT workforce, and connectivity to both EU and non-EU markets. Fintech companies like Cashwave and LimeChain have established operations in Sofia, leveraging its position as a regional leader in blockchain development. Cities with cost advantages and growing tech sectors can adopt similar branding approaches to attract fintech firms, focusing on niche areas like blockchain or RegTech.
