Bulgarian startup Krik.bg raises €350k in funding

Krik.bg, a Sofia-based dealer in second-hand auto parts, has raised approximately €350,000 in funding from Sofia Angels Ventures and Vitosha Venture Partners Fund I. Krik.bg aims to accelerate its expansion into new international markets.

• Founded in 2022 by Viktor Viktorov, Vasil Georgiev, and G. Tsonev, Krik.bg is a company operating in the region’s automotive aftermarket sector. Its inventory amounts more than 14 million auto parts catering to both B2B and B2C segments, covering the whole vehicle spectrum, enabling the startup to reshape the landscape of the second-hand auto parts industry.
• The current investment was led by Sofia Angels Ventures (SAV), a €13 million venture fund backed up by EIF for angel and private co-investment, headquartered in Sofia. Vitosha Venture Partners, another Bulgarian early-stage VC fund with €26 million under management, and an unnamed private investor joined the round.
• The round was also supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe.

Our partnership signifies our confidence in the company’s vision and potential for growth. With a current focus on the B2B segment and the hiring of key sales representatives in target markets, Krik.bg is primed to solidify its position as a market leader while driving sustained value for customers and stakeholders alike. We are happy to be part of Krik.bg’s journey, supporting their international expansion efforts and contributing to their continued success in the global automotive aftermarket industry,

the team of Sofia Angels Ventures commented on the investment.

Krik.bg is planning to accelerate its expansion into new international markets, including Romania, Greece, Germany, and the Czech Republic. The funds will empower Krik.bg to enter into new markets and diversify revenue streams.