Bulgarian e-commerce Badu raises €2.6M investment from Silverline Capital

Bulgarian online retail store Badu has raised €2.6 million in an investment round led by Silverline Capital, a Sofia-based mezzanine fund, and supported by prominent Bulgarian entrepreneurs. With the funds, Badu plans its expansion in the current and 9 new markets, the Recursive reports.

  • Founded in 2015 by Kiril Shopov, later joined by Anton Chapov, Badu is a fast growing online ecommerce marketplace that operates in Eastern Europe, based in Petrich, Bulgaria. The company claims it works with suppliers from around the world to provide fast, reliable, and high-quality service for its customers.
  • Among its services, the platform provides a high-demand option of payment on delivery for intercontinental purchases, which benefits customers, who seek security while shopping abroad. Currently, Badu operates in Bulgaria, Greece, Cyprus, and Romania.
  • During its investment round, the company found financial support from Silverline Capital. The lead investor is a private equity fund that provides mezzanine and equity financing solutions to mid-market businesses in Bulgaria. Apart from the lead, several unnamed Bulgarian angel investors also participated in the round.
  • Thanks to the fresh funds, Badu plans to expand in the current markets, as well as to enter 9 new markets. Badu’s goal is to challenge the current dominance of AliExpress by offering a comparable product range with faster delivery and better quality.