Bulgarian Startup Paypercut Attracts €2M in Pre-Seed Round Backed by Global Tech Investors

Bulgarian fintech company Paypercut has secured €2 million in pre-seed financing, marking the largest funding round of its kind for a fintech in Bulgaria. The Sofia-based startup, which offers a unified platform for Buy Now, Pay Later (BNPL) solutions, attracted investments from prominent global backers including Concentric, Passion Capital, RTP Global, Tuesday Capital, Robin Capital, Angel Invest Ventures, and several high-profile business angels. These investors have also supported companies such as Airbnb, Uber, Monzo, and SumUp.

Paypercut simplifies access to BNPL by aggregating multiple providers into a single integration point for small and medium-sized businesses. Merchants who connect to the platform can either present customers with various BNPL options at checkout or allow the system to automatically route transactions to the most efficient or cost-effective provider. Payments are disbursed in local currencies across Central and Eastern Europe directly to the merchant’s existing account, and the digital-only onboarding process drastically shortens setup time.

The company already processes payments for clients in Bulgaria, Romania, and Greece, and has plans to enter new markets including Poland, the Czech Republic, and Turkey. These regions are seen as fertile ground for growth, outpacing Western Europe in BNPL expansion.

Paypercut was founded by a trio of fintech veterans: CEO Stoil Vassilev, formerly VP of Corporate Development & Finance at SumUp; CRO Emil Savov, who helped build SumUp’s Central and Eastern Europe partner channel and previously sold his startup 84bits to SumUp; and COO Gareth Walsh, the former Global Head of Risk & Compliance at SumUp and Chief Commercial Officer at Payhawk. The fresh capital will be used to expand the network of BNPL providers, adapt the onboarding process for more languages, and establish a partner system offering revenue-sharing models.

CEO Stoil Vassilev emphasized that finalizing payments is crucial for small merchants and that rejected BNPL applications often lead to lost sales. “By combining providers with different risk tolerances, we ensure customers have options and merchants have confidence,” he explained. “Small businesses in Central and Eastern Europe have long been overlooked. We’re changing that.”

Alex Stroud, Principal at Concentric, underlined the need for a tailored approach to the CEE market. “Merchants are still dealing with fragmented BNPL tools one by one. Paypercut brings a compliant, localized, and scalable alternative led by people who understand the terrain,” he said.

Tuesday Capital’s Ethan Imboden added that their decision to invest was based on the product’s clarity and the founders’ proven track record. “A single integration, fast onboarding, multi-currency compatibility - it’s simple but addresses real needs. This is infrastructure that can scale far beyond the region.”

Paypercut positions itself as the first dedicated BNPL aggregator for the Central and Eastern European region. Focused on supporting smaller merchants, the company’s product offers seamless access to a variety of BNPL providers, supports digital onboarding, and handles payments in local currencies. Headquartered in Sofia, Paypercut is steadily expanding beyond Bulgaria, Romania, and Greece, aiming to reshape the BNPL landscape across emerging Europe.