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Kuady opens office in Bulgaria o harness fintech and IT talent

Wednesday, July 17, 2024 — 12:24:35 (EDT)

Sofia, 17 July, 2024 – Kuady, today announces the opening of a new office in Sofia, Bulgaria for 100+ employees. The new office marks a significant milestone in Kuady’s ambitious growth plans, having recently launched its digital wallet in Peru and Chile, with further expansion in Latin America, Europe and Africa planned.

The Kuady team in Bulgaria – already 80 people strong, with an additional 25% by the end of the year – will focus primarily on the continued development of the recently launched digital wallet. The growth of the team is driven by IT roles, including back-end developers, tech team leads, product managers, and risk management professionals in identity verification, fraud detection and investigations.

Kuady is taking advantage of Bulgaria’s rich blend of tech talent and fintech operational expertise – making it an ideal hub for key product development activities, operations, and strategic alliances. The Bulgaria office is a joint venture with PayRetailers, a key supporter of Kuady, functioning as an incubator and investor. Despite the close relationship, PayRetailers and Kuady are independent brands.

Lorenzo Pellegrino, Chief Executive Officer at Kuady said: “Our expansion into Bulgaria is a major milestone as we develop the Kuady digital wallet and expand into new markets. We’re ambitious people and we chose Bulgaria for its rich pool of fintech talent, robust tech infrastructure, and dynamic business environment. The expertise and innovation here will be instrumental in accelerating the development of our digital wallet. Bulgaria's thriving tech community make it an ideal base to support our ambitious expansion plans and ensure we remain at the forefront of the fintech industry as we continue to grow and expand into new markets.”

Miroslav Bojilov, Country Manager of Bulgaria said: “We have an exciting opportunity with Kuady, offering end-customers the ability to use their Kuady account and card on merchant sites and stores. This will allow merchants to integrate Kuady as a unique payment solution through a simple single API. The dedication and expertise of our team in Sofia is pivotal to the continuing success of Kuady.”

Mario Ricciardi is the Managing Director of Kuady and it is headquartered in the Isle of Man.

ENDS

About Kuady

Kuady is the registered business name of Open Payment Technologies Ltd a company incorporated in the Isle of Man under company number 136352C with its registered office at Second Floor, The Old Court House, Athol Street, Douglas, Isle of Man, IM1 1LD. Open Payment Technologies Ltd is licensed and regulated by the Isle of Man Financial Services Authority to carry on Electronic Money Transmission Services.

Launched in July 2024, Kuady is a digital wallet app that aims to revolutionize financial management for merchants and users worldwide. With a focus on innovation, user-friendliness, and financial inclusion, Kuady provides diverse payment methods and a range of benefits for merchants and users alike. To learn more about Kuady, visit www.kuady.com

About PayRetailers

Founded in 2017, PayRetailers is now a global leader in payment processing in Latin America and Africa. The company's mission is to offer complete solutions for e-commerce, covering the entire process of international transactions without the need for a local entity. Through a single API, an advanced technological platform, and commercial agreements, PayRetailers enables access to over 300 local payment methods. Its own technological architecture is highly flexible and scalable, allowing rapid innovation to meet the demands of constantly evolving markets. For more information about PayRetailers and its solutions, visit www.payretailers.com

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Source: Company press release.