Fintech

Kuady Expands to Bulgaria with New Office to Tap Fintech and IT Talent in the Region

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Cuady announces today the opening of a new office in Sofia, Bulgaria, with over 100 employees. 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 planned in Latin America, Europe and Africa.

The Kuady team in Bulgaria, already 80 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 team’s growth is being driven by IT roles, including back-end developers, technical team leaders, product managers, and risk management professionals in identity verification, fraud detection, and investigations.

Kuady is leveraging Bulgaria’s rich mix of tech talent and fintech operational expertise, making it an ideal hub for product development, operations and strategic alliances. The Bulgaria office is a joint venture with PayRetailers, a key backer of Kuady, which serves as an incubator and investor. Despite the close relationship, PayRetailers and Kuady are independent brands.

Lorenzo Pellegrino, CEO of Kuady said: “Our expansion into Bulgaria is an important milestone as we develop the Kuady digital wallet and expand into new markets. We are ambitious people and have chosen Bulgaria for its rich fintech talent pool, strong technology 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 makes 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 Bulgaria, said: “We have an exciting opportunity with Kuady, offering end customers the ability to use their Kuady account and card on merchants’ websites and stores. This will allow merchants to integrate Kuady as a one-stop payment solution through a simple single API. The dedication and expertise of our team in Sofia is critical to Kuady’s continued success.”

Mario Ricciardi and the CEO of Kuady and is based in the Isle of Man.

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