Bulgaria has rapidly emerged as a dynamic hub for technology innovation, with a thriving IT sector fueled by visionary entrepreneurs. The country boasts a new generation of founders who are not only transforming the local digital landscape but also making significant contributions to the global tech scene. In this article, we spotlight some of the most influential IT founders in Bulgaria whose leadership and creativity are shaping the future of the industry.
Company: Telerik
Vassil Terziev is a prominent Bulgarian entrepreneur and co-founder of Telerik, a global provider of software development tools. Under his leadership, Telerik grew into one of Bulgaria’s most successful tech companies, eventually being acquired by Progress Software for $262.5 million in 2014. Terziev is known for fostering innovation and supporting the Bulgarian startup ecosystem. He is an active mentor and investor in various tech ventures. Terziev also pursues public service, including a run for mayor of Sofia.
Company: Telerik
Svetozar Georgiev is a co-founder of Telerik, where he played a key role in product strategy and business development. He helped transform Telerik into a leader in software tools and solutions, culminating in its high-profile acquisition by Progress Software. Georgiev is dedicated to supporting entrepreneurship in Bulgaria and is involved in mentoring and investing in early-stage companies. He also actively promotes technology education in the region.
Company: Telerik
Boyko Yaramov is one of the founding members of Telerik, contributing significantly to the company’s operational excellence and organizational culture. His leadership helped scale Telerik from a small startup to an international technology success. After the company’s acquisition, Yaramov has continued to support the local tech community through investments and advisory roles. He is passionate about innovation and education.
Company: Telerik
Hristo Kosev is a co-founder of Telerik, instrumental in shaping the company’s technical direction and engineering practices. He played a pivotal role in building Telerik’s core products and nurturing a strong engineering team. Following the acquisition by Progress Software, Kosev has remained active in the Bulgarian tech scene. He advocates for software excellence and supports various technology initiatives.
Company: Payhawk
Hristo Borisov is the CEO and co-founder of Payhawk, a leading spend management platform for businesses. With a background in software engineering, Borisov has driven Payhawk’s rapid growth across Europe and beyond. He is recognized for his entrepreneurial vision and ability to scale tech startups. Borisov’s leadership has positioned Payhawk as one of Bulgaria’s fastest-growing fintech companies.
Company: Payhawk
Boyko Karadzhov is a co-founder and the CTO of Payhawk, where he oversees product development and technical strategy. With extensive experience in software engineering, Karadzhov has been instrumental in the creation of Payhawk’s innovative platform. He is passionate about building scalable fintech solutions and empowering businesses to manage their finances efficiently. Karadzhov remains a key figure in Bulgaria’s growing tech sector.
Company: Payhawk
Tsvetoslav Dimitrov is a co-founder of Payhawk, contributing to the company’s vision and growth in the fintech space. He brings significant experience in business development and operations, helping Payhawk expand into new markets. Dimitrov is committed to driving digital transformation in finance. He is also involved in fostering the startup ecosystem in Bulgaria.
Company: ScaleFocus
Viktor Bilyanski is the CTO and co-founder of ScaleFocus, a leading IT solutions provider based in Bulgaria. He has been pivotal in building the company’s technical expertise and global client base. Bilyanski is a recognized leader in software architecture and digital transformation. He is actively involved in mentoring young tech professionals and supporting the IT community.
Company: ScaleFocus
Plamen Tsekov is the CEO and co-founder of ScaleFocus. Under his leadership, the company has grown into one of Southeast Europe’s foremost technology partners, serving clients worldwide. Tsekov has extensive experience in IT management and strategy. He is dedicated to fostering innovation and talent development within the tech sector.
Company: ScaleFocus
Nikolay Tsenkov is a co-founder of ScaleFocus, where he has played a key role in business development and organizational growth. His leadership has helped establish ScaleFocus as a trusted technology partner for global enterprises. Tsenkov is committed to advancing Bulgaria’s reputation as an IT hub. He supports initiatives that promote digital skills and entrepreneurship.
Company: Telelink
Lyubomir Minchev is the founder and CEO of Telelink, one of Bulgaria’s leading technology and telecommunications companies. He has overseen the company’s growth into a major player in IT infrastructure and digital solutions. Minchev is known for his entrepreneurial spirit and strategic vision. He is also active in supporting innovation and education in Bulgaria.
Company: Gtmhub
Ivan Osmak is the co-founder and CEO of Gtmhub, a leading provider of OKR (Objectives and Key Results) software. Under his guidance, Gtmhub has attracted major clients and expanded globally. Osmak is recognized for his deep expertise in business management and technology. He is passionate about helping organizations achieve better alignment and performance.
Company: Gtmhub
Radoslav Georgiev is a co-founder and CTO of Gtmhub, where he drives the technical vision and product innovation. He has a strong background in software development and cloud technologies. Georgiev is dedicated to building scalable, user-centric products that help companies track and achieve their goals. He also mentors aspiring engineers and entrepreneurs.
Company: Gtmhub
Sabin Dzhambazov is a co-founder of Gtmhub, contributing to the company’s growth in the enterprise software market. He brings extensive experience in operations and project management. Dzhambazov is passionate about creating tools that empower organizations to succeed. He actively supports innovation and digital transformation in the tech industry.
Company: Gtmhub
Boris Angelov is a co-founder of Gtmhub, where he has played a significant role in business development and strategy. His expertise has helped Gtmhub become a trusted OKR platform for organizations worldwide. Angelov is committed to fostering growth and excellence within the tech sector. He is also involved in supporting startups and emerging talent.
Company: Chaos Group (now Enscape)
Vladimir Rusev is a prominent figure in Bulgaria’s technology sector, previously associated with Chaos Group, renowned for its V-Ray rendering software. He contributed to the company’s global success in the fields of computer graphics and visualization. Chaos Group has since merged with Enscape, continuing to lead in 3D rendering solutions. Rusev is known for advancing innovation in digital imaging and visualization.
The remarkable achievements of Bulgaria’s top IT founders serve as an inspiration for aspiring entrepreneurs both locally and abroad. Their commitment to innovation, resilience, and growth has positioned Bulgaria as a key player in the international tech ecosystem. As these leaders continue to break new ground, the future of Bulgaria’s IT sector looks brighter than ever.
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