Bulgarian software developer Bianor receives €6.8M from BlackPeak Capital

Bianor, a Bulgarian software development company, has raised a total of over €10 million in a funding round led by BlackPeak Capital, a Bulgarian equity fund. The investment will support Bianor’s growth and accelerate its expansion. This is the second capital raising by Bianor in less than 12 months, as BlackPeak Capital informed AIN.

  • Bianor was co-founded by a Bulgarian entrepreneur Kosta Jordanov. It brings together a group of companies providing specialized software development services across Europe and North America.
  • Among its client portfolio comprises mainly telecom, tech, and media enterprises for which Bianor provides services related to data streaming, machine learning, artificial intelligence, transition to the cloud, and digital transformation.
  • BlackPeak Capital, a private equity firm established in 2014 with a total AUM of €160 million, led the current round. Through its second fund, BlackPeak Southeast Europe Growth Equity Fund, the firm invests growth equity tickets of €5-15 million in dynamic SMEs in Bulgaria, Romania, Slovenia, Croatia, and Serbia. Bianor is the fifth company in the BlackPeak Southeast Europe Growth Equity Fund’s portfolio.
  • The fund benefits from the support of the European Union under the Equity Facility for Growth. In July 2023, the firm led a €20 million round for Slovenian biotech startup GenePlanet.

  • The investment is part of the company’s capital increase, which attracted 199 investors, including several institutional investors. This is the second capital raising by Bianor in less than 12 months. After the increase, Bianor Holding’s capitalization exceeds €25 million at the current stock price.

With the fresh investment, Bianor aims to accelerate its growth and the development through mergers and acquisitions in the region. In addition, it plans expand the geographic presence by reaching more customers in the US, Germany, Austria, Switzerland, the UK.