Kuady has announced the establishment of a new office in Sofia, Bulgaria, designed to accommodate over 100 employees.
This development is part of Kuady’s aggressive expansion strategy, which has already seen the launch of its digital wallet in Peru and Chile, with plans to further penetrate markets in Latin America, Europe, and Africa.
The Bulgarian team, which currently numbers 80, is set to grow by 25% by year’s end. This expansion is focused on bolstering the capabilities of the recently launched digital wallet. The Sofia office will predominantly house IT professionals, including back-end developers, tech team leads, product managers, and specialists in identity verification, fraud detection, and investigations.
Strategically, Bulgaria offers a potent mix of tech talent and FinTech expertise, positioning it as an optimal site for significant product development, operational activities, and strategic partnerships. The new office represents a collaborative effort with PayRetailers, which supports Kuady as both an incubator and an investor, though the two remain distinct brands.
Kuady CEO, Lorenzo Pellegrino, emphasized the strategic importance of the Bulgarian expansion, stating: “Our expansion into Bulgaria is a major milestone as we develop the Kuady digital wallet and expand into new markets. We’re ambitious people and we chose Bulgaria for its rich pool of fintech talent, robust tech 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 make 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 for Bulgaria, added: “We have an exciting opportunity with Kuady, offering end-customers the ability to use their Kuady account and card on merchant sites and stores. This will allow merchants to integrate Kuady as a unique payment solution through a simple single API. The dedication and expertise of our team in Sofia is pivotal to the continuing success of Kuady.”
Kuady, officially known as Open Payment Technologies Ltd, is an entity registered in the Isle of Man, operating under the stringent regulations of the Isle of Man Financial Services Authority. Since its launch in July 2024, Kuady has aimed to redefine financial management for merchants and users globally with its innovative, user-friendly digital wallet.
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