Bulgarian startup Eilla AI raises $1.5 million to transform financial decision processes

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in News, Startup Stories

Two prominent venture firms, Eleven Ventures and Fuel Ventures, lead a $1.5 million seed funding round for Eilla AI, a Bulgarian startup specializing in generative AI for financial professionals. The funding aims to boost the company’s technical capabilities and expand its footprint in the M&A, venture capital (VC), and private equity (PE) markets. 

Eilla AI, based in London and Sofia, was founded by a team with roots in the Bulgarian town of Veliko Tarnovo. The platform, driven by generative AI, automates laborious financial research, analysis, and document creation, significantly reducing the time spent on daily tasks. 

The startup’s co-founders, including Nikola Lazarov (CEO), Petar Petrov (CCO), and Nikolay Babulkov (CTO), leverage their collective expertise in artificial intelligence to mimic industry professionals. The platform, now utilized by over 50 M&A banks, VC firms, and PE funds, provides comprehensive reports and insights, transforming the way financial professionals operate. 

Investors like Eleven Ventures recognize Eilla AI’s potential to bring efficiency to a sector that has seen minimal technological evolution over the past three decades. Svetozar Georgiev, general partner at Eleven Ventures, emphasizes the game-changing impact of Eilla’s platform, allowing professionals to shift from hours of manual tasks to focusing on strategic decision-making. 

According to Nikola Lazarov, CEO of Eilla AI, the funding will play a pivotal role in expanding the technical team and enhancing the product offering. The startup aims to position itself for growth by exploring novel AI trends that could further revolutionize M&A, VC, and PE operations

Mark Pearson, founder and managing partner at Fuel Ventures, notes that Eilla’s innovative AI-driven approach will save substantial time and resources, enabling professionals to concentrate on value addition. As AI continues to transform the financial industry, Eilla AI stands poised to refine and rationalize financial workflows. 

In a sector dominated by manual data retrieval and analysis, Eilla AI’s generative AI platform emerges as a powerful tool, promising superhuman productivity. The startup’s journey exemplifies the potential of AI to reshape traditional industries, making financial operations more efficient and focused. 

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