Paysera Bulgaria, a fintech company specializing in payment solutions, is aiming to raise 2 million levs (about €1M) on the Bulgarian Stock Exchange. They are not just seeking extra capital. The company is after a much-coveted electronic money license from the Bulgarian National Bank (BNB). With plans to offer 163,000 shares at 12.2 levs each, they’re looking to capture a bit over 17.5% stake, valuing the company at over 11.3 million levs upon full subscription.
Aiming High for Autonomy
Currently, Paysera Bulgaria operates somewhat as a franchise under a contract with Lithuania’s Paysera LT, sharing revenues and responsibilities. Snagging an electronic money license from BNB would pivot Paysera Bulgaria towards more autonomy, transforming its Bulgarian and foreign physical persons and companies from being in contractual relationships with the Lithuanian company to becoming direct clients of the Bulgarian entity.
Growth Despite the Challenges
Despite some problems, including a previous license rejection from BNB, Paysera Bulgaria has seen substantial growth. With around 10,000 clients and a blurry line between registered individuals and active users, the company navigates a complex financial landscape. Their financial snapshot reveals about 1 million levs in revenues and a modest 26,000 levs net profit in 2022. Expectations are set not on immediate profitability but on expansion and embracing the Eurozone’s future impacts.
Looking forward, Paysera Bulgaria isn’t just focusing on regulatory compliance but also on broadening its business horizons, including a venture into the Romanian market and potential investments in property crowdfunding platforms. With a current team of 53 and relationships based on a unique business model with Paysera LT, the company stands on the brink of an exciting phase of growth and development.
