Bulgarian-American credit bank acquire E-money start up

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Bulgarian-American Credit Bank (BACB) became an owner of Paytech, a local start-up founded in the beginning of 2019 as a joint venture investment of BACB and Bulgarian Telecommunications Company (BTC). BACB purchased 50% stake from BTC as a step to support the bank’s strategy for developing the instant payments line of business, referred to as “portfolio services”. BTC, known by its brand name as Vivacom, is also up for sale.

See News, Aleksia Petrova, October 9th 2019