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news by vestbee.com
03 April 2024·2 min read

Joy Laoun

News Editor, Vestbee

Bulgarian second-hand auto parts platform Krik.bg raises €350k to expand globally

Bulgarian auto parts dealer Krik.bg has raised nearly €350,000 from Sofia Angels Ventures and Vitosha Venture Partners Fund I. Krik.bg seeks to expand its operation internationally. 

  • Pleven-Based Krik.bg was founded in 2022 by Viktor Viktorov, G. Tsonev, and Vasil Georgiev. The startup develops a second-hand auto parts platform with a wide variety of more than 14 million auto parts catering to both B2B and B2C segments and covering the whole vehicle spectrum. 
  • The investment was backed by Sofia Angels Ventures, a €13 million venture capital fund that co-invests in scalable startups at seed and angel phases from SEE and CEE countries. Another investor is Vitosha Venture Partners that invests in early-stage and growth-stage firms that operate in or connected to Bulgaria with investments ranging from €25,000 to €1 million 
  • The investment is supported by InnovFin Equity, with the financial support of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. 

“Our partnership signifies our confidence in the company’s vision and potential for growth. With a current focus on the B2B segment and the hiring of key sales representatives in target markets, Krik.bg is primed to solidify its position as a market leader while driving sustained value for customers and stakeholders alike. We are happy to be part of Krik.bg’s journey, supporting their international expansion efforts and contributing to their continued success in the global automotive aftermarket industry,” The Sofia Angels Ventures team shared input on the investment.

  • With the €350,000 funding, Krik.bg aims to expand its operation in new markets such as the Czech Republic, Germany, Romania, and Greece. As well as leveraging its competitive advantages to penetrate new markets and diversify revenue streams. 

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