Which are the 20 fastest growing tech companies in Bulgaria?

Despite concerns about a lack of sufficient jobs for IT professionals over the past year, there are companies that continue to expand their teams.

Over a period of just over one calendar year, the IT departments of at least 9 employers have grown by 100 or more employees. That’s according to data* on H512.com’s Job Board, where each company can note how many people work for them.

Based on this, we also formed the top 20 fastest-growing tech companies ranking by comparing the data from October 2023 with the current statistics from November 2024.

In order to provide the most accurate information possible, after making the calculations, we tried to contact the companies that fell into the top positions. The rankings do not include those companies that were unable to confirm their data by the time of publication.

Who is showing the biggest growth?

Two companies – A1 Bulgaria and SAP– take the top spot, with the telco’s IT specialists growing by double the number of a year earlier. The German software company has also expanded its team by 300 new people, which was confirmed to H512.COM by the company itself.

At the top are two other companies that have added more than 200 IT staff in a year. Product company TINQIN ranks second, followed by the technology centre of Germany’s Commerzbank. The only home-based company in the top 5 is EGT Digital, which is based in Sofia and develops online casino games.

The fifth position is occupied by Valtech, which noted that it currently has nearly 200 employees in its IT departments in Bulgaria.

The company confirmed to H512.com that the acquisition of Kin Carta in a deal worth nearly €280 million was also important for the 173-strong growth. Valtech has had an office in the country since 2019 and is involved in business transformation projects for clients in various sectors.

Impact on figures

Growth in the top 20 varies widely, from 20 to 300 people, as can be seen in the table.

If we were to break the companies down by how many IT employees they have hired, 9 have expanded their departments by 100 or more professionals. 17% of companies fall into the 50-99 new hires range. The largest proportion of departments increased by between 20 and 49 IT professionals.

Four companies – Carista, flatexDEGIRO, TopView Sightseeing, and Remix by ThredUp–rank 21st with an increase of 15 people in one year.

The ranking includes companies that have undergone a variety of changes in the past year. For example, Bulgarian-based fintech company myPOS was acquired by US investment fund Advent International.

A year later, there are also companies for which data is no longer available as they have withdrawn from the Bulgarian market. This is the case of Uber, which closed its software office in Bulgaria after nearly 10 years of operation. Its IT staff by October 2023 was 85.

Foreign vs. Bulgaria – what is the distribution?

How many of these 29 companies are headquartered in Bulgaria and how many come from another country?

We looked at them by this metric as well, and found that the numbers are almost evenly distributed. And otherwise, as we have told you before, the number of IT employees is higher in foreign companies.

*To accurately reflect the changes that have occurred over a one-year period, we have compared the data from October 2023 and the same for November 2024.

We calculated the figures by subtracting the number of employees in 2023 from the 2024 figures.

After ranking the companies, we double-checked. We sought confirmation from all those that fell into the top positions in the rankings. Of the companies in the rankings, we excluded four that did not respond when we attempted to contact them to confirm the information.

Some of the companies also had negative values.

In compiling the statistics, companies were excluded that did not indicate on the H512.com Job Board how many IT staff they have in their departments .