{"id":33272,"date":"2023-01-26T13:42:32","date_gmt":"2023-01-26T11:42:32","guid":{"rendered":"https:\/\/investsofia.com\/companies-with-main-operating-offices-in-sofia-hit-the-top-performers-list-in-the-annual-fintech-report-2022-by-bfa\/"},"modified":"2023-01-26T13:42:32","modified_gmt":"2023-01-26T11:42:32","slug":"companies-with-main-operating-offices-in-sofia-hit-the-top-performers-list-in-the-annual-fintech-report-2022-by-bfa","status":"publish","type":"post","link":"https:\/\/investsofia.com\/en\/companies-with-main-operating-offices-in-sofia-hit-the-top-performers-list-in-the-annual-fintech-report-2022-by-bfa\/","title":{"rendered":"Companies with Main Operating Offices in Sofia Hit the Top Performers List in the Annual Fintech Report 2022 by BFA"},"content":{"rendered":"<div id=\"modal-ready\"><div style=\"width: 1080px;\" class=\"wp-video\"><!--[if lt IE 9]><script>document.createElement('video');<\/script><![endif]-->\n<video class=\"wp-video-shortcode\" id=\"video-33272-1\" width=\"1080\" height=\"1080\" loop=\"1\" autoplay=\"1\" preload=\"auto\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/investsofia.com\/wp-content\/uploads\/2023\/01\/IS_fb_video_20.01_eng-1.mp4?_=1\" \/><a href=\"https:\/\/investsofia.com\/wp-content\/uploads\/2023\/01\/IS_fb_video_20.01_eng-1.mp4\">https:\/\/investsofia.com\/wp-content\/uploads\/2023\/01\/IS_fb_video_20.01_eng-1.mp4<\/a><\/video><\/div>\n<p><span style=\"font-weight: 400;\">For a fourth consecutive year, the Bulgarian Fintech Association (BFA) published its Annual Fintech Report which highlights the achievements of the digital finance industry in Bulgaria and Southeastern Europe. Once again, the Report was created in partnership with Innovative Sofia, the digitalization and innovation unit of the Sofia Municipality, and more than 15 private and public key stakeholders.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The FinTech Mapping is a visual representation of the FinTech industry in Bulgaria. BFA\u2019s data encompasses more than 95% of the industry in the country and all interested in the development of the sector parties, including the Entrepreneurial ecosystem, Regulators, FinTech supporting companies, and institutional players, among which Invest Sofia is also listed as a supporting the Bulgarian fintech sector organization.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Four of the Top 5 best performers by total revenue in this year\u2019s Report are companies with main operating offices in Sofia. These are Datecs, Paysafe, Easy Payment Services, and Experian. myPOS, also part of the Top 5, has a main operating office in Bulgaria based in Varna and another one &#8211; in Sofia. In 2021, their revenue accounts for around 48% of the total annual revenue of the Bulgarian Fintech sector.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">More highlights from the Report<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In 2022, there are 156 FinTech companies in Bulgaria, of which 92% are SMEs, mostly located in Sofia, Varna, and Plovdiv.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The FinTech personnel hit an all-time high of 11,862 in 2021, with an average 14% increase for a year.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">44% of all employed in FinTech in Bulgaria are women.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In 2020, the Covid-19 pandemic boosted the creation of FinTech companies and they reached their all-time high of 23 companies established in a single year.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Despite the lower number of FinTech companies founded in 2021, FinTech&#8217;s total revenue achieved a historic 25% increase with a historical peak of total revenue &#8211; BGN 1.8 billion.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Digital Payments companies are the main contributor to the 2021 Operating revenue by segment, followed by Enterprise Technology Provisioning FinTech companies and Digital Asset Exchange.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The productivity of the FinTech sector, measured by operating revenue per employee, grew by 22% on an annual basis in the period 2017-2021, achieving a peak of BGN 222 thousand in 2021, doubling from BGN 112 thousand in 2017.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The 2022 BFA study finds that the average gross monthly salary in the FinTech industry in 2021 is BGN 3,248 (EUR 1,659), more than 2 times higher than the country&#8217;s average gross in 2021.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For the years 2017-2021 &#8211; the investments in FinTech companies rose from BGN 1.3 million to almost BGN 11 million.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The 2021 BGN 10.03 million VC investments in FinTech represents 1\/5 of all 2021 VC investments in Bulgaria, making FinTech the most attractive industry in the country.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The Annual Fintech Report 2022 was officially presented at an event in Sofia Tech Park. The launch was live-streamed and a video recording is available on the YouTube channel of the BFA <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=36M6T10t5rs\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">. Free download of the Report is available on the website of the Association at: <\/span><a href=\"https:\/\/fintechbulgaria.org\/annual-fintech-report-2022\/\"><span style=\"font-weight: 400;\">https:\/\/fintechbulgaria.org\/annual-fintech-report-2022\/<\/span><\/a><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>For a fourth consecutive year, the Bulgarian Fintech Association (BFA) published its Annual Fintech Report which highlights the achievements of [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1,427],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.14 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Companies with Main Operating Offices in Sofia Hit the Top Performers List in the Annual Fintech Report 2022 by BFA | Sofia Investment Agency<\/title>\n<meta name=\"description\" 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