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Bulgaria’s key startup leader becomes mayor of Sofia

9 noiembrie 2023

Bulgaria’s tech entrepreneur and most active startup investor Vassil Terziev (photo) takes the helm as the mayor of Sofia, according to The Recursive

Before entering the campaign trail, Vassil Terziev was known as a successful tech entrepreneur and Bulgaria’s most active startup investor and supporter of the growth of the local innovation ecosystem. 

According to the mapping conducted by Endeavor Bulgaria, Vassil Terziev stands out as the Bulgarian entrepreneur responsible for initiating the multiplier effect. This phenomenon occurs when the success of one entrepreneur sparks and amplifies the success of others.

First, Vassil Terziev made a substantial impact on the Bulgarian startup landscape as a member of the founding team of Telerik, Bulgaria’s largest publicly announced tech company exit ($262.5 million in 2014). Then, as a managing partner at one of Bulgaria’s first venture capital funds Eleven Ventures, he led investments in notable companies such as Payhawk, Bulgaria’s first unicorn, Quantive, and SMS Bump (exited to Yotpo). 

Additionally, Terziev has invested in 62 companies, nurtured the creation of 65 employee spinouts from Teleril, and mentored over 50 entrepreneurs. 

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Anders Olofsson – former Head of Payments Finastra

Banking 4.0 – „how was the experience for you”

So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”

Many more interesting quotes in the video below:


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?