Kuady expands into Bulgaria with new office to harness fintech and IT talent in the region
Local teams to spearhead ongoing development of the newly-launched Kuady digital wallet
Kuady announced the opening of a new office in Sofia, Bulgaria for 100+ employees, located in EN Building, 1 Atanas Dukov Str., very close to Paradise Center. The new office marks a significant milestone in Kuady’s ambitious growth plans, having recently launched its digital wallet in Peru and Chile, with further expansion in Latin America, Europe and Africa planned.
The Kuady team in Bulgaria – already 80 people strong, with an additional 25% by the end of the year – will focus primarily on the continued development of the recently launched digital wallet. The growth of the team is driven by IT roles, including back-end developers, tech team leads, product managers, and risk management professionals in identity verification, fraud detection and investigations.
Kuady is taking advantage of Bulgaria’s rich blend of tech talent and fintech operational expertise – making it an ideal hub for key product development activities, operations, and strategic alliances. The Bulgaria office is a joint venture with PayRetailers, a key supporter of Kuady, functioning as an incubator and investor. Despite the close relationship, PayRetailers and Kuady are independent brands.
It’s worth mentioning that many of the executive team members have managed Bulgarian teams as part of their prior stints with other fintech companies and are therefore familiar with the local talent and culture.
Lorenzo Pellegrino, Chief Executive Officer at Kuady said: “Our expansion into Bulgaria is a major milestone as we develop the Kuady digital wallet and expand into new markets. We’re ambitious people and we chose Bulgaria for its rich pool of fintech talent, robust tech infrastructure, and dynamic business environment. The expertise and innovation here will be instrumental in accelerating the development of our digital wallet. Bulgaria’s thriving tech community make it an ideal base to support our ambitious expansion plans and ensure we remain at the forefront of the fintech industry as we continue to grow and expand into new markets.”
Miroslav Bojilov, Country Manager of Bulgaria said: “We have an exciting opportunity with Kuady, offering end-customers the ability to use their Kuady account and card on merchant sites and stores. This will allow merchants to integrate Kuady as a unique payment solution through a simple single API. The dedication and expertise of our team in Sofia is pivotal to the continuing success of Kuady.”
Bojilov has extensive experience in the local fintech ecosystem having previously managed the local technology and operational center of renowned companies for 4 years. Miroslav also has a wealth of expertise in strategy and operations consulting, having served banking, payments and fintech clients in the US for 15+ years with Deloitte and other advisory firms.
Mario Ricciardi is the Managing Director of Open Payment Technologies Ltd and it is headquartered in the Isle of Man. Open Payment Technologies Ltd is regulated in the Isle of Man by the Financial Services Authority to operate Kuady.
