site.btaState Support Key to Growth and Innovation in Fintech, Says Bulgarian Fintech Association Chair

Government support is essential for the growth and success of the fintech sector, said Co-founder and Chair of the Bulgarian Fintech Association Valeri Valtchev on Tuesday. Valtchev spoke during the Polish-Bulgarian Fintech Bridge: Shaping the Future Innovation conference.

"The support of the state is necessary for us to grow and achieve our goals," Valtchev stated. He emphasized that the conference is an important step toward stronger regional cooperation and building a solid innovation ecosystem between Bulgaria and Poland.

“We are living in a time when technology is transforming the financial sector at an unprecedented pace, and at the core of that transformation is the fintech industry,” he noted.

Valtchev pointed out that Bulgaria and Poland share many similarities, not only as EU markets but also as countries with strong human capital, technological creativity, and ambition to drive regional change.

Pawel Widawski, CEO of Future Finance Poland, also underlined the importance of regional cooperation. "Poland and Bulgaria both have fast-growing fintech ecosystems and state institutions ready to shape the future of digital finance," he said. Widawski expressed confidence that the event would mark the beginning of a lasting dialogue.

He noted that Poland has built a remarkably stable financial centre over the past 35 years, with a high level of financial inclusion, nearly all citizens have access to banking services, and 81% use online banking. In terms of capital markets, Poland hosts the region’s largest stock exchange, with 800 listed companies. "The Warsaw Stock Exchange ranks among the best performing in the world," he added.

Bozhena Bozhilova, Operations Director at the Bulgarian Fintech Association, said that Bulgaria’s capital market is small but innovative, with significant growth potential. Currently, around 180 fintech companies operate in the country, generating a combined revenue of EUR 1.3 billion, nearly 2% of national GDP. Still, she noted that cash payments remain dominant in Bulgaria, accounting for 62% of all transactions.

Earlier in the day, speakers at the Polish-Bulgarian Fintech Bridge conference emphasized the need for cross-border cooperation and innovation-driven policy in the face of rapid technological and economic transformation. The event, held under the patronage of Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev, forms part of the Polish Presidency of the Council of the European Union and aims to deepen ties between Bulgaria and Poland in the fintech sector. Ambassador Maciej Szymanski underscored that collaboration is no longer optional but essential, highlighting shared values, mutual trust, and the importance of harmonized regulation as key pillars of a resilient digital future.