Search for...

Bulgarian Tinder of Jobs nPloy Gets €2M to Expand to Romania

nPloy
Image credit: nPloy's team
, ~

 

  • The Bulgarian talent matching app nPloy raised €2M from Morningside Hill and Blue Ocean Ventures. 
  • This is the first external investment for the bootstrapped company nPloy which is now valued at around €8M. 
  • The funding will be used to expand to the Romanian market. 

 

The new investment of nPloy marks the 12th company in the portfolio of Morningside Hill, the investment intermediary of the Funds of Funds in Bulgaria (FMFIB), which has €38.5M in management and a term of 5 years. By 2024, the fund is expected to invest in around 15 more early-stage Bulgarian companies. 

Founded in 2019 by the psychologist Konstantin Tsonev, the serial entrepreneur Boris Kolev, and the engineer Tsvetoslav Zahariev, nPloy provides young talents with a tool that matches their dynamic lifestyle and communication preferences. Later the co-founding team was joined by Teodor Todorov. 

The app works similar to Tinder by allowing candidates and employers to swipe left and right depending on whether they want to match with each other and conduct an interview. 

The reverse job application

When creating their profile in nPloy, employees and candidates set their requirements and let the algorithms do the rest of the job to match them. By doing so, the app improves the traditional job application process. It allows candidates to only see the positions which are suitable for their experience and preferences. On the other hand, it allows employers to only see the candidates which are suitable for the position. 

Besides job matching, the app also has social features which allow users to engage in discussions about their professional interests. There are also different clubs where users can create and engage in common topics, and events sections for online workshops and seminars. 

The SaaS business model of nPloy is also one of its differentiating factors. Companies that use the platform do not pay commissions for hiring employees, and instead, pay a monthly fee for using the app. 

Read more:  US-Bulgarian LucidLink raises a $20M Series B to solve remote collaboration

Traction and future plans

Since its launch three years ago, nPloy has won the trust of over 440 companies, has enjoyed a total of 85K downloads, and currently has more than 800 active jobs. 

With the new investment, the team, which currently consists of around 30 people, will aim to expand outside Bulgaria. Their initial goal is to enter the Romanian market and after that make their solution available to more SEE countries. 

Thank you for reading The Recursive!

Over 1 million people from all over the world have learned about the tech ecosystem in Central and Eastern Europe thanks to The Recursive. In order to keep our content free for everyone, we need your help. If you believe what we do is important and have the means to do so, support us in giving a voice to Central and Eastern Europe with as little as €7. Thank you!

DONATE Keep reading this article

Help us grow the emerging innovation hubs in Southeast Europe

Every single contribution of yours helps us guarantee our independence and sustainable future. With your financial support, we can keep on providing constructive reporting on the developments in the region, give even more global visibility to our ecosystem, and educate the next generation of innovation journalists and content creators.

Find out more about how your donation could help us shape the story of the SEE entrepreneurial ecosystem!

One-time donation

You can also support The Recursive’s mission with a pick-any-amount, one-time donation. 👍

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.
Startups