Payhawk, Bulgaria’s first unicorn, stands behind BESCO Hall of Fame with its story of innovation, success and passing on what it has learned.

Past

Payhawk was founded in 2018 with the ambition of changing how businesses manage their spending and payments. Besides a good product, a key factor in the company’s development was the market it chose: it was founded in Bulgaria, with its headquarters in London and offices in Western Europe from the very beginning. This, combined with the right distribution channels, helped Payhawk start its path to success.

An early example for them was Telerik, which showed that a business created in Bulgaria can compete internationally.

Along the way, Payhawk received support from many different people at different stages, from family and fellow entrepreneurs to investment funds. This support brought not only practical opportunities but also a perspective that helped the company get through difficult moments.

Present

Today, Payhawk continues to help companies manage their spending more efficiently and save time and money by optimizing their financial processes.

The belief that challenges are not always as big as they seem in the moment, and that successes do not mean the journey is over, has also played a role in the company’s development. This mindset helps the business keep moving forward.

Payhawk also believes that a business does not grow in isolation: it depends on skilled people, access to capital, a workable regulatory environment and opportunities for growth. That is why a company’s success matters beyond its own results. When more businesses grow successfully, they create opportunities for new entrepreneurs, attract talent and contribute to the whole ecosystem.

“The more successful companies there are, the better it is for the ecosystem.” – Hristo Borisov, CEO of Payhawk

This principle is visible in the support that Payhawk and its team give to the next generation of entrepreneurs. Some of the company’s former employees go on to start their own businesses, and the support for them continues afterwards, including by connecting them with potential investors and sharing contacts and experience.

At the core of this approach is the understanding that the entrepreneurial community grows when the people in it help one another.

Future

Payhawk’s future is tied not only to the development of the company itself, but also to the opportunities Bulgaria can create for the next generation of entrepreneurs. According to the company, for more successful businesses to emerge, the country needs an environment that provides access to talent, capital and clear rules, and that also encourages cooperation between business, society and institutions.

Payhawk points to an active civil society as an important part of this environment: people who come together around significant issues and stand up for shared principles. According to the fintech unicorn, when all these parties work in the same direction, Bulgaria can create better conditions for companies to grow and open up more opportunities for people who want to build their future here.

Because the goal is not simply to create successful companies, but to build an ecosystem in which they can grow, compete in international markets and pave the way for the next generation of entrepreneurs.

Payhawk’s story shows that success is not an end point but an opportunity to open the way for others who follow. And when accumulated experience is shared and success becomes a common goal, the whole entrepreneurial ecosystem becomes stronger.