Encorp.io and AMBITIONED, both Bulgarian companies, are announcing a strategic merger aimed at establishing a leading provider of software solutions.
AMBITIONED was founded by Ivaylo Kenov along with the SoftUni team—Dr. Svetlin Nakov, Hristo Tenchev, and Ivan Nenkov. The company provides software development and the training of IT professionals.
“The unification of these two companies will make us stronger, more stable, and more efficient in software development,” said Ivaylo Kenov, former CEO of AMBITIONED, who will now take on the role of Chief Strategy Officer at Encorp.io.
Encorp.io, established in 2019 by Martin Kuvandzhiev, together with Boris Nikolov and Rosen Santev, specializes in outstaffing and Build-Operate-Transfer (BOT) solutions, aiming to help fintech and blockchain corporations scale their teams with top-tier talent.
The merged companies will operate under the Encorp.io brand.
“This merger is a major step forward in our mission to deliver world-class fintech and blockchain solutions that drive innovation, efficiency, and growth,” said Martin Kuvandzhiev, CEO of Encorp.io. “By joining forces with AMBITIONED, we are confident that we can provide even greater value to our clients and partners.”
The newly formed team will expand its service offerings to include decentralized systems development, smart contracts, mobile wallets, DeFi protocols, and integration of SEPA, SWIFT, ACH, CESOP, and Visa Direct payments. Clients can expect an expanded service portfolio.
