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Bulgarian provider of cross-platform RPA raises €500k and will expand across Southeast Europe

RPA Bulgaria
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Automation has already become an integral part of the operation of all kinds of industries – from commerce and finance to manufacturing, and it’s all about the value-added and the additional layer of efficiency and labor optimization. The first Bulgarian company that specializes in the development of cross-platform robotic process automation solutions, RPA Consulting, recently raised around €500k investment from the Sofia-based Innovation Capital fund and F27 which is a local digital development alliance that offers acceleration and investment management solutions. 

The investment of Innovation Capital investment amounts to €300k, while that of F27 to €200k and it comes after the participation of RPA Consulting in Endeavor’s Dare to Scale 2020 accelerator program, to which F27 was a capital partner of Endeavor.

Scaling up locally and internationally

When Krasimir Krastev founded the company in 2016, it was specifically focused on providing solutions for corporate clients. For its 4 years of existence on the market, the company has been able to develop more than 100 automatization solutions for domestic and international clients and to become a certified partner of the Romanian UiPath and Automations Anywhere, a global cognitive and AI-powered Robotic Process Automation platform. With a small team of only 10 people, the startup has managed to attract international clients such as Axon, Unilever, VM Finance Group, and Allianz.

The future ahead of RPA Consulting

In light of RPA Consulting’s participation in the Dare to Scale program, the Bulgarian online programming academy SoftUni recently proposed the company create specialized courses focused on automation. 

With the freshly raised capital, RPA Consulting intends to expand its team to about 40 members in the next couple of years and to grow its presence internationally. In 2021, the company plans to enter markets like Turkey and Greece, with other things on the roadmap featuring the development of solutions for SMEs and the establishment of a division specializing in banking solutions. 

Read more:  Greek Perceptual Robotics Gets Fresh Funding to Expand AI-Driven Drone Inspection Solutions

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Elena is an Innovation Reporter at The Recursive, an online media dedicated to the emerging tech and startup ecosystems in Southeast Europe. She is keen on sharing the innovation stories that shape the regional ecosystem and has a great interest in fintech, IoT, and biotech startups. Elena is currently finishing her Bachelor's Degree in Business Administration and Political Science at the American University in Bulgaria.