First: Bulgarian Stock Exchange Launches SpaceCrowd, an Equity Crowdfunding Platform for Startups

The Bulgarian Stock Exchange (BSE) has unveiled SpaceCrowd, Bulgaria’s first equity crowdfunding platform aimed at helping startups and early-stage businesses raise capital, BSE CEO Manyu Moravenov said.

Developed in collaboration with the Central Depository, SpaceCrowd provides a new funding avenue for young companies with growth potential but limited access to traditional financing channels.

The platform targets firms seeking to raise between BGN 200,000 and BGN 2 million, offering them a gateway to a broader pool of investors.

“Until 2022, Bulgaria’s crowdfunding market was unregulated, but this type of financing thrives when there is access to a wide pool of investors,” Moravenov said at the platform’s launch event.

SpaceCrowd builds on insights gained from BSE’s Beam market, Bulgaria’s first venture funding platform for innovative companies.

While Beam has demonstrated strong investor interest in emerging companies, Moravenov noted that many startups lack the maturity to meet Beam’s listing criteria.

SpaceCrowd aims to bridge this gap by offering early-stage businesses an opportunity to attract investor interest and secure the capital needed for growth.

The platform is designed for joint-stock companies, and investors will participate through licensed investment intermediaries or directly via the platform.

Moravenov expects this mechanism to quickly attract an initial group of investors, particularly those interested in private equity and venture capital opportunities.

In the first phase, SpaceCrowd will focus on equity capital. At a later stage, we are considering expanding into other forms of financing, such as loans and bonds, Moravenov said.

Companies wishing to raise funds through SpaceCrowd will submit applications via the platform, providing initial data and documentation required for BSE’s assessment.

Once approved, companies will have dedicated profiles accessible to all platform users, allowing potential investors to review relevant documents and make informed investment decisions.

For investors, SpaceCrowd presents an opportunity to invest in innovative companies in the private equity field, contributing to Bulgaria’s growing startup ecosystem.

Moravenov emphasized that the platform not only benefits startups by providing much-needed capital but also offers investors access to high-potential businesses at an early stage.

The launch of SpaceCrowd marks a significant step in the development of Bulgaria’s financial market infrastructure, creating new opportunities for entrepreneurs and investors alike.