iBanFirst opens new branch in Bulgaria

Sofia, Bulgaria: Online platform for multicurrency transactions – iBanFirst opened a new office in Bulgaria. The announcement was made by the platform’s authorities on Wednesday, March 9. This new establishment has been inaugurated with an aim to ease international payments for local as well as medium-sized enterprises (SMEs).  

Pierre-Antoine Dusoulier, who holds the position of both company’s founder and CEO in an issued media release statement, said, “The opening of this new office in Bulgaria will provide a significant contribution to our European business objective of doubling the monthly volume of transactions of up to 4 billion euro ($4.4 billion) in 2022”. 

The previous year, iBanFirst also established a new office in Romania’s Bucharest, it is when it announced to expand its business in Bulgaria as well as Hungary. 

Dean Todorov has been appointed by the firm as ‘country manager’ for its newly opened branch. His functions include handling the local operations under the coordination of the regional director for SEE (Southeastern Europe) – Johan Gabriels. 

The regional director then highlighted the firm’s decision of choosing Bulgaria to open its new branch. He stated the company has firm faith that the European country’s “business potential” is underestimated. 

“We are expecting that the operations of the new firm in the region of SEE will compute for around 25% of the total European revenue in three years’ time”, underscored Gabriels. 

The online payment service provider then stated that the expansion of iBanFirst in the SEE region follows a significant growth equity investment deal of 200 million euro with the United States investment fund Marlin Equity Partners (MEP) to fund – product development, international growth, and mergers and acquisitions. 

About iBanFirst: 

The firm was based in the year 2013, offering adequate solutions for international online payment through cloud platforms. At the present time, the firm contains over 250 employees and is serving over 4,000 customers in the region of Europe.