menu attracted financing from BlackPeak Capital of up to EUR 7.5 million for accelerating growth and international market expansion attracted financing from BlackPeak Capital of up to EUR 7.5 million for accelerating growth and international market expansion
24 march 2022
Bulgarian, a leader in providing comprehensive courier, logistic, and fulfillment solutions for e-commerce players from Bulgaria and CEE, closed its first round of external financing with BlackPeak Capital.

Sofia, Bulgaria 24.03.2022

Bulgarian, a leader in providing comprehensive courier, logistic, and fulfillment solutions for e-commerce players from Bulgaria and CEE, closed its first round of external financing with private equity firm BlackPeak Capital, which will invest up to EUR 7.5 million into the company via BlackPeak Southeast Europe Growth Equity Fund, its second fund. The new capital will be used to accelerate the growth of the company through acquisitions and scaling of organic expansion on regional CEE and Western European markets.

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Online shopping is growing at a rapid pace globally and regionally. CEE markets are among the most dynamic in Europe due to the fast convergence of e-commerce penetration to Western European levels. More and more traders from the CEE region, which have previously sold exclusively via physical stores, are moving online, and those with existing online stores are realizing continuous growth of their orders and parcels. As a result, all of them are increasingly looking for solutions which facilitate cross-border shipment and delivery of parcels while keeping low shipment costs and high service quality.


“Our clients are already focused on sales in premium markets from Western Europe which means that we need to establish solid presence there before them. We are confident that our partnership with BlackPeak Capital and their experience in executing international growth strategies, will help is get there faster.”, commented Lora Dimitrova, co-founder and CFO of offers a comprehensive range of services to cater for the needs of regional e-commerce exporters. Svetlozar Dimitrov and Lora Dimitrova, its founders, have successfully developed a proprietary network of 30+ local couriers across all EU countries and the UK, enabling the company to directly inject parcels on a domestic level. An internally developed IT platform, which is integrated with customers, supports real-time access to the wide service portfolio, including deliveries to personal or business address, to lockers, to PuDo, as well as to all options for return management and cash-on-delivery needed by e-shops. One of the main advantages of is that for each of the covered markets, it provides at least two delivery options from several reputable and tested local couriers. This assures that e-shops receive reliable, fast, and cost-effective delivery, even during the most intense and peak seasons of the year. 


Svetlozar Dimitrov, co-founder and CEO of, commented: “Two years ago, we were faced with two very distinct options on how to “elevate” the company to the next level. To sell a majority stake to a strategic investor, which would have taken us in its own desired direction, or to find an experienced financing partner like BlackPeak Capital, which could help us execute acquisitions in CEE and Western Europe and thus continue developing in the direction guided by our clients.” is growing organically at high double-digit rates since its foundation and reached revenues of EUR 4.0 million in 2021.The new financing comes as a natural next step in the development of the company, which recently expanded its network by opening own warehouse in Budapest, Hungary. The new facility will afford optimal transit times to key online markets at attractive delivery costs as well as processing and shipping of parcels to 8 countries including Hungary, Slovakia, Slovenia, Czech Republic, Poland, Austria, Italy, and Croatia.


“The investment in is part of our strategy to invest in niche industry leaders in high growth industries. We plan to use the funds for strategic acquisitions to consolidate a fragmented market and to realize innovative solutions for improving the quality of the service offering.” said Angel Stefanov and Ivailo Gospodinov from BlackPeak Capital.


Advisors to the deal were XFigureFinance, which lead the deal on behalf of as Financial adviser, KPMG, for financial and tax due diligence, GCI Management, for commercial due diligence, Schoenherr, for legal due diligence, while legal counseling was ensured by Schoenherr for BlackPeak Capital and Wolf Theiss for


”With the team at XfigureFinance, we actively follow the development of e-commerce solutions in the logistics and last mile sectors. Given the market potential, quality of the service and capacity of management team, has all the necessary prerequisites to become a sizeable player on a European level”, said Rossitsa Chopeva-Yancheva, Managing Partner at Xfigure Finance (financial advisor)



The company is a courier service integrator focused on the e-commerce space and leader in providing solutions to e-shops in 27 markets across Europe. optimizes the process of sending, warehousing, tracking, and delivery of parcels through a proprietary network of local courier operators and warehouse locations at strategic places in Europe. The main hub of the company is strategically located in Ruse on the Bulgarian-Romanian border, from where it distributes parcels to their destinations via an innovative IT platform which integrates in real-time clients, directs shipments towards the most optimal partners and provides tracking and monitoring information of the entire process. For more information, please visit:


About BlackPeak Capital

BlackPeak Capital was established in 2014 and targets growth equity investments of €5-10 million in the fastest growing SMEs in Romania, Bulgaria, Slovenia, Croatia, and Serbia. BlackPeak Capital’s second fund, BlackPeak Southeast Europe Growth Equity Fund, focuses on partnering with the region’s outstanding entrepreneurs who have the ambition to build world-class companies on the basis of continued innovation, organic growth, and add-on acquisitions. BlackPeak Southeast Europe Growth Equity Fund is backed by the European Investment Fund under the COSME and JEREMIE programs, the EBRD, the IFC, BCR Pensii, and other European private institutional investors. BlackPeak Capital operates from four regional offices in Sofia, Bucharest, Ljubljana, and Vienna. For more information, please visit:

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