BGF Invests £2 Million in High-Growth Bulgarian-English HeleCloud

BGF will invest £2 million in the Cloud Services Management Company HeleCloud. The goal is to accelerate the company's growth and expansion to the European market. It will help expand the geographical presence of HeleCloud in other European countries as well as, in the future, in Israel and the Middle East. Stefan Bumov, Deputy CEO of the company, stated this in front of “Capital”. In addition, the investment will also contribute to the development of competencies in the field of artificial intelligence and machine training.

Dob Todorov, the CEO and Chief Cloud Officer at HeleCloud, said in a press release that “BGF’s investment will be instrumental in supporting us as we scale up and out, and we’re looking forward to working closely with them as we continue to grow. The world trend is more and more security-conscious organizations in regulated sectors transitioning to the public Cloud. We are proud to offer a robust service capable of meeting the sophisticated needs of these organizations.”

HeleCloud was founded in 2016 and has offices in Maidenhead, UK, and Sofia, with more than 50 people working for it. The portfolio of the company includes projects for companies such as Viber and NEX, the main activity being a technological consultancy in the Amazon Web Services cloud platform. In Bulgaria, the company works through the “HeleCloud Bulgaria” Company.

Bumov added that the company relies heavily on the quality and engineering potential of Bulgarian experts. Expansion of the team is also expected due to the high potential of the market.

BGF is a small and medium-sized business investor in the UK, which has £2.5 billion of equity capital for investments and an additional €250 million in Ireland. So far, BGF has invested in 239 companies.

Image Source: Press release 

Petya Petrova

Petya Petrova is a journalist, believer, and traveler.

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