ITF Group's Strategic Moves Into Fintech with Dual Acquisition
Deal News | Aug 15, 2025 | CEE Legal Matters
Bulgarian financial services firm ITF Group has strategically expanded its reach into the fintech industry by acquiring a majority stake in Klear and a 20% stake in FinBiz Technologies. Both companies are positioned in Bulgaria, with Klear focusing on digital consumer lending and FinBiz Technologies specializing in SME-focused digital financing solutions. Tzvetkova, Tzvetkov & Dobreva, a prominent law firm, served as ITF Group's legal advisor in these acquisitions. The acquisitions align with ITF Group's strategic objective to enhance its digital lending capabilities, capitalizing on Klear's fintech innovations and FinBiz's loan management platform. Legal support for Klear and FinBiz Technologies was provided by Dimitrova, Staykova & Partners.
Sectors
- Financial Services
- Fintech
- Legal Services
Geography
- Bulgaria – Both ITF Group and the acquired companies, Klear and FinBiz Technologies, are based in Bulgaria.
Industry
- Financial Services – The article discusses ITF Group, a financial services company, expanding its portfolio.
- Fintech – Klear and FinBiz Technologies are fintech companies, and the acquisitions are aimed at enhancing ITF Group's digital lending services.
- Legal Services – The involvement of the law firms Tzvetkova, Tzvetkov & Dobreva and Dimitrova, Staykova & Partners highlights the article's legal advisory aspect.
Financials
- Not Disclosed – The specific financial details of the acquisition, such as the purchase price or valuation, were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ITF Group | Bidding Company | Company | A Bulgarian financial services company listed on the Bulgarian Stock Exchange. |
| Klear | Target Company | Company | A Bulgarian fintech company focusing on digital consumer lending. |
| FinBiz Technologies | Target Company | Company | A software company developing a fintech platform for digital loan origination and management. |
| Tzvetkova, Tzvetkov & Dobreva | Legal Advisor | Company | A law firm that advised ITF Group on the acquisitions. |
| Dimitrova, Staykova & Partners | Legal Advisor | Company | The law firm reported to have advised Klear and FinBiz Technologies. |