Sofia Angels Ventures – New Investment Press Release
Sofia Angels Ventures (SAV), a €13M venture fund backed up by EIF for angel and private co-investment, headquartered in Sofia, is pleased to announce its latest investment – Krik.bg – a dealer in second-hand auto parts with an extensive inventory of over 14 million auto parts, covering the whole vehicle spectrum. The investment is supported by InnovFin Equity, with the financial backing 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. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.
Krik.bg is a dynamic Bulgarian-based startup reshaping the landscape of the second-hand auto parts industry. Securing approximately 350k euro in funding from Sofia Angels Ventures KDA and Vitosha Venture Partners Fund I and a private individual, Krik.bg is poised to accelerate its expansion into new international markets, including Romania, Greece, Germany, and the Czech Republic. Founded in 2022 by Viktor Viktorov, Vasil Georgiev, and G. Tsonev, Krik.bg has swiftly emerged as a frontrunner in the region’s automotive aftermarket sector, boasting an extensive inventory of more than 14 million auto parts catering to both B2B and B2C segments.
This strategic infusion of capital will empower Krik.bg to capitalize on growing opportunities abroad, leveraging its competitive advantages to penetrate new markets and diversify revenue streams. With a steadfast commitment to providing cost-effective solutions and unparalleled customer satisfaction, Krik.bg is well-positioned to emerge as the leading online dealer of second-hand auto parts across Bulgaria and the broader Central and Eastern European (CEE) region. The company’s robust e-commerce platform, coupled with its swift shipping and streamlined document administration processes, underscores its unwavering dedication to excellence and innovation.
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.
March 2024
Sofia
