€22.6M capital raised in 2024, and #3 most traded stock on the Bulgarian Stock Exchange (BSE)
281% increase in the number of shareholders and 27% share price rise
€43M market cap with 187% year-over-year capital appreciation (CAP)
Sofia, Bulgaria, January 15th, 2025 – Wiser Technology (BSE: WISR*) has been recognized at the 24th annual Bulgarian Stock Exchange awards with the distinction of “Issuer that raised the highest amount of capital on the Main Market of BSE”. The honor was presented by Ms. Radoslava Maslarska, Chairperson of the Bulgarian Association of Licensed Investment Intermediaries (BALII), and accepted by Mr. Kosta Jordanov, CEO of Wiser Technology.
Radoslava Maslarska, Chairperson of the Bulgarian Association of Licensed Investment Intermediaries, Kosta Yordanov, CEO of Wiser Technology
“I want to thank our investors for their trust and confidence in Wiser Technology. Their support has been instrumental in helping us achieve these milestones and positioning us to drive our international expansion,” said Kosta Jordanov, CEO of Wiser Technology. “We greatly appreciate the Bulgarian Stock Exchange for playing a key role in our journey, providing the platform that connected us with diverse investors and secured the funding needed to realize our ambitious plans,” Jordanov added.
Over the course of 2024, Wiser Technology raised €22.6M, fueling a 281% increase in its shareholder base and driving its share price up by 27%. By year-end, the company had become the third most traded stock on the BSE, while its free float reached 48%. The company reached €43M market cap, reflecting a 187% year-over-year capital appreciation – solidifying its foundation for sustainable, long-term growth.
During the year, Wiser Technology also joined BGBX40, BGTR30, and the Premium Segment of the Bulgarian Stock Exchange – becoming just the tenth company in this exclusive tier. These achievements underscore how a locally founded IT services company can access substantial funding from the domestic capital market, expand its shareholder base, and compete internationally.
Looking ahead to 2025, Wiser Technology is in a strong position to advance its international expansion, finalize its post-M&A integration efforts, and invest in new growth initiatives reinforcing its market-leading position and delivering lasting value for shareholders.
*As of 06 January 2025, the BSE code (mnemonic) for the issue of shares was modified from BNR to WISR.
Wiser Technology plans to appoint of Baker Tilly as the authorized auditor.
Capital increase of 160,000 shares to distribute among all employees.
A seasoned registered auditor joins the Auditing Committee.
Sofia, Bulgaria, November 7th, 2024 – Bianor Holding (BSE: BNR) has scheduled a General Assembly meeting for December 12th, 2024, to vote on key decisions, including renaming the company to Wiser Technology, updates to the Board of Directors and the Auditing Committee, the appointment of Baker Tilly as the authorized auditor, and a capital increase of 160,000 shares to distribute among all employees.
“Earlier this year, the GA approved an Employee Stock Option Program as a performance-based reward program. Now, in addition, the board is recommending to the GA a one-time capital increase to provide every employee with an opportunity to own stock in the company,” said Ivan Dimitrov, Chief People Officer of Wiser Technology. “This move reflects our commitment to fully aligning our team with the company’s vision, sharing the company’s success with the people that drive it, and fostering a culture of ownership and collaboration to support Wiser Technology’s further growth,” added Dimitrov.
Selecting Baker Tilly, a globally recognized top-ten auditor, underscores Wiser Technology’s commitment to expanding its appeal to international investors and its dual-listing ambitions.
The General Assembly will also vote on the addition of two new members to the Auditing Committee: Kliment Nachkov, CFO of Wiser Technology, and Veronika Revalska, a registered auditor listed in the register under Article 20 of the Independent Financial Audit Act (ZNFOSU). Nachkov brings a wealth of experience from the U.S. banking sector and corporate finance roles at Prime Holding and Entrea Capital, Bulgaria’s top independent M&A advisory firm. Revalska’s auditing expertise includes overseeing audits for major clients, including Bulgarian Energy Holding, National Electric Company, Printing Works of BNB, and Allianz Bulgaria, during her time as lead auditor at HLB Bulgaria.
Another major decision planned for the upcoming GA is appointing two new members of the Board of Directors. Dimitar Dimitrov, CTO, and Georgi Sokolov, COO of Wiser Technology, are nominated to join the BoD. Dimitar Dimitrov is an IT entrepreneur and a professor at the Faculty of Mathematics and Informatics of Sofia University. He is a former VP “Development” at SAP and a member of the board of the Bulgarian Association of Software Companies. Georgi Sokolov is a software engineer and entrepreneur. He co-founded several Bulgarian software companies and founded the Bulgarian office of the multinational brand Reward Gateway, serving clients like American Express, Groupon, Yahoo!, IBM, and McDonald’s.
Earlier this month, Wiser Technology announced its seventh M&A transaction in the past 18 months, acquiring 100% of the Serbian software development company Badin Soft. Wiser Technology (BSE: BNR) trades on the Premium segment of the Bulgarian Stock Exchange and recently completed a €12.3M capital increase from the public markets to support the company’s further expansion.
Goodlord is a UK-based software service provider offering innovative solutions for landlords, agents, and tenants. The company specializes in simplifying and digitizing the rental process, including:
Preparation and maintenance of rental documentation, such as electronic forms and contracts.
Facilitating utility services like gas, electricity, and water connections.
Streamlining workflows with electronic signatures, invoices, and automated notifications for contract extensions and terminations.
Goodlord’s platform supports seamless online payments and provides a fully digital experience for all parties involved in the rental process.
Through a modernized architecture, enhanced processes, and seamless integration of remote teams, Goodlord is now equipped to handle rapid growth and deliver exceptional service experiences. By enabling scalability and adaptability, we helped Goodlord strengthen its leadership in the property management software market.
Challenges
Goodlord faced a critical need to modernize its web-based platform by:
Migrating legacy functional PHP code to a more scalable and maintainable architecture using Symfony.
Implementing new features, improving performance, and integrating tests to ensure quality.
Collaborating with external remote engineers for the first time—an ambitious step for a company with an established onsite-only work culture in London.
Goodlord sought experienced software developers who could not only integrate into their in-house processes but also propose innovative solutions to address support issues and optimize the platform. This was a high-stakes endeavor, requiring seamless collaboration and effective communication between distributed teams.
Our Approach
To help Goodlord achieve its goals, we began with an in-depth analysis of the platform’s existing architecture. By engaging with onsite engineers, support teams, and product managers, we gained a comprehensive understanding of the business objectives and technical challenges.
Key actions included:
Modernizing the Architecture: Migrated legacy functional PHP code to object-oriented programming (OOP) modules using Symfony, enabling greater scalability, maintainability, and faster implementation of new features.
Optimizing the Database: Reorganized the MySQL database structure to enhance performance and efficiency.
Improving the User Interface: Transitioned the platform’s web interface to React components, delivering a faster and more intuitive user experience.
Enhancing Quality Assurance: Integrated comprehensive unit and end-to-end tests to simulate various loads, prevent defects, and ensure stability.
Data Integration Support: Developed ETL processes using SSIS to seamlessly import end-customer data from various systems into Goodlord’s platform.
Impact Delivered
Scalable Architecture: Introduced a Symfony- and Scala-based architecture that supports future platform growth.
Improved Database Performance: Optimized the MySQL database for enhanced reliability and speed.
Elevated User Experience: Delivered a modern web interface with React components, improving performance and engagement.
Robust Quality Assurance: Achieved comprehensive test coverage, ensuring defect prevention and stability.
Successful Remote Integration: Enabled effective collaboration with external remote engineers, establishing a new operational model for Goodlord.
Wiser acquire 100% of the Serbian software developer Badin Soft
This transaction strengthens Wiser’s capabilities in the financial and telecom sectors
Wiser’s 2024 pro-forma consolidated revenues are expected to exceed €30M
Sofia, Bulgaria, October 10th, 2024 – Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, acquired 100% of the Serbian software development company Badin Soft. As a result of the transaction, the original founders of Badin Soft and other key team members will become shareholders in Wiser Technology.
Badin Soft is headquartered in Niš, Serbia, and employs over 100 highly skilled software engineers and consultants. The company serves clients in the Financial Services and Communications sectors, including prominent organizations such as BlackRock, Raiffeisen Bank, Telecom Serbia, and Inspira Group.
“We share a common vision with Wiser Technology, and together, we will push the boundaries of innovation in the software development industry.“
This transaction further enhances Wiser Technology’s expertise in delivering high-quality solutions to the financial services and telecommunications sectors, including to top-tier international clients.
With this transaction, Wiser Technology’s 2024 pro-forma consolidated revenues are expected to exceed €30M. The company continues its path to becoming a leading software services provider from Central and Eastern Europe. Wiser Technology is pursuing a growth strategy to diversify its delivery capabilities in the region while also gaining direct access to enterprise clients in key target markets, including the U.S., U.K., and DACH.
“I’m thrilled to welcome our colleagues from Badin to Wiser Technology. They are a remarkable team of experienced professionals, and I look forward to working with them in Wiser. Their comprehensive expertise in financial services and communications will strengthen Wiser Technology’s position in those key verticals and enable us to deliver even more value to our clients,” said Kosta Jordanov, CEO of Wiser Technology. ”I would like to extend my gratitude to the Badin team for their shared vision of Wiser Technology’s future and to our key shareholder, BlackPeak Capital, for their support throughout the entire transaction,” added Jordanov.
“This acquisition is a testament to the dedication and expertise of the entire Badin Soft team. Becoming part of Wiser Technology enables us to broaden our capabilities, enter new markets, and continue providing exceptional solutions to our clients,” said Božidar Ignjatović, CEO of Badin Soft. “We share a common vision with Wiser Technology, and together, we will push the boundaries of innovation in the software development industry. We’re excited about the future and look forward to what we can achieve as part of the Wiser family,” added Ignjatović.
“We are enthusiastic to join forces with Wiser Technology. This partnership marks a significant milestone for Badin Soft, and together, we will unlock new growth opportunities,” said Dušan Cvetković, CTO of Badin Soft. “Our team’s in-depth experience and commitment to excellence align perfectly well with Wiser Technology’s vision, and we look forward to contributing to Wiser’s expansion. By joining Wiser Technology, we’re confident that we’ll further enhance the value we bring to our clients and the industries we serve,” said Cvetković.
Wiser Technology’s mission is to empower visionary companies to drive positive change through technology. Wiser Technology’s clients and partners include Airbus, Leonardo, Indra, IBM, IAV, UniCredit, ProCredit, EMAAR, Nokia, DirecTV, Bosch, and Legrand. Wiser Technology partners with the world’s leading technology companies, including IBM, Amazon, Google, Microsoft, SAP, McKinsey Digital, and E&Y Digital.
Earlier this month, Wiser Technology (BSE: BNR) announced moving to the Premium segment of the Bulgarian Stock Exchange and in the process of finalizing a €12.3M capital increase from the public markets to support the company’s further expansion.
Wiser Technology (BSE: BNR) designs, builds and operates advanced mission-critical software solutions for the world’s leading organizations. The company delivers technology innovation, extensive domain expertise, and engineering excellence to its customers in the automotive, aerospace & defense, telecommunications, and financial service industries.
Wiser Technology delivers exceptional services from its multiple delivery centers in Bulgaria, Serbia, and Greece, with a team of over 600 leading software engineers and computer scientists. It employs ISO 9001/20001/27001, NATO AQAP 2110/2210, and TISAX-certified processes. The company is headquartered in Sofia, Bulgaria, listed at BSE, and operates an NY-based US consulting office.
Badin Soft is an IT company based in Niš, Serbia, specializing in software development and offering services globally. Badin’s expertise spans various sectors, including banking, finance, loyalty programs, telecommunications, and multimedia systems. By utilizing cutting-edge technologies, Badin fosters a collaborative environment to create value for both its developers and clients.
Badin’s motto, “It’s all about people,” highlights that its greatest asset is its talented team. With more than 100 successful projects under its belt, Badin is dedicated to cultivating long-term partnerships and delivering high-quality software solutions tailored to meet client needs.
BlackPeak Capital was established in 2014 and targets growth equity investments of €5-15 million in fast-growing SMEs in Romania, Bulgaria, Slovenia, Croatia, and Serbia. Its second fund, BlackPeak Southeast Europe Growth Equity Fund, focuses on partnering with the region’s outstanding entrepreneurs who aim to build world-class companies through continued innovation, organic growth, and add-on acquisitions. BlackPeak Capital remains committed to making a significant positive economic, social, and environmental impact.
BlackPeak Southeast Europe Growth Equity Fund is backed by the European Investment Fund under the COSME and JEREMIE programs, the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament, Invest BG, the EBRD, the IFC, and other European private institutional investors.
Redefining Retail Excellence with Data-Driven Insights
Operating over 1,500 stores and warehouses across eight countries, Kaufland is a leader in the FMCG sector, with an online marketplace in Germany complementing its expansive physical presence. By leveraging advanced analytics and predictive modeling, Kaufland has transformed its approach to customer engagement, ensuring it remains a trusted choice in the highly competitive retail market.
Challenge
Kaufland, a leading international retailer in the fast-moving consumer goods (FMCG) sector, sought to gain deeper insights into their customers’ preferences, habits, and sentiments to optimize satisfaction and deliver tailored products and services. Without a comprehensive understanding of their customer base, they risked falling short of expectations, leading to dissatisfaction and inefficient use of resources. To stay ahead in a highly competitive market, Kaufland needed a solution to unlock actionable customer insights and improve their strategic decision-making.
Our Approach
To address Kaufland’s challenges, we deployed advanced analytics and customer segmentation techniques, enabling a more granular understanding of their customer base and market dynamics.
Key actions included:
Customer Segmentation: Utilized methods such as K-means clustering, DBSCAN, Regression Analysis, ANOVA, and PCA to segment the customer base by attributes and preferences, revealing distinct behavioral patterns.
Predictive Modeling: Developed predictive models using XGBoost and Random Forests to forecast customer behavior, recommend personalized actions, and optimize marketing strategies.
Loyalty Programs: Designed tailored loyalty programs to enhance customer retention and engagement, driven by insights into specific customer segments.
KPI Tracking: Established robust systems for monitoring and analyzing key performance indicators, ensuring transparency and data-driven decision-making.
Impact Delivered
Enhanced Customer Understanding: Delivered actionable insights into customer segments and behaviors, enabling more targeted and effective marketing campaigns.
Wiser Technology, received approval from the Bulgarian Financial Supervision Commission (FSC) to proceed with an initial public offering (IPO) of shares on the Bulgarian Stock Exchange (BSE)
Wiser Technology plans to issue up to 4,096,711 new shares at an issue price of €3.07 per share
Since the beginning of 2023, Wiser has raised over €14.3M
Sofia, Bulgaria, September 5ht, 2024 – Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, received approval from the Bulgarian Financial Supervision Commission (FSC) to proceed with an initial public offering (IPO) of shares on the Bulgarian Stock Exchange (BSE). This approval marks the commencement of the capital increase process. An indicative schedule is available at the end of this announcement, and the final schedule will be released upon approval by the BSE.
Wiser Technology plans to issue up to 4,096,711 new shares at an issue price of €3.07 per share. If fully subscribed, this capital increase will bring in €12,6M and increase the total number of company shares to 16,386,844.
“We are pleased to see considerable interest from investors, with close to €11M already committed.“
Since the beginning of 2023, Wiser has raised over €14.3M through an initial public offering on the BSE. The capital increase has facilitated six acquisitions, boosting the company’s pro forma consolidated revenues to €13.8M for the first half of this year – an increase of more than nine times compared to the same period last year.
“We are pleased to see considerable interest from investors, with close to €11M already committed,” said Kosta Jordanov, CEO of Wiser. “The proceeds from this capital increase will be used for acquisitions in Western Europe and to cover bridge financing used for the acquisition of Digital Lights earlier this year,” Jordanov added.
Wiser’s management invites the investment community to an open meeting on September 11th, 2024, at 4 p.m. at the Hyatt Regency Sofia Hotel. The meeting will provide further details on the company’s strategic plans, as well as the objectives and parameters of the upcoming capital increase. Participants will have an opportunity to engage directly with the management team. The meeting will be held in English and is open to all interested parties upon registration [here]. Additionally, it will be streamed live on the company’s YouTube channel.
Wiser Technology, enters the BGTR30 index of the Bulgarian Stock Exchange.
Wiser is among the 40 most traded companies on the Bulgarian Stock Exchange.
Listed on the Premium segment of the BSE.
Sofia, Bulgaria, September 25th, 2024 – With the September 2024 rebalancing of the stock market indices, Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, enters the BGTR30 index of the Bulgarian Stock Exchange (BSE), featuring the thirty largest companies by market capitalization.
In March this year, Wiser entered the index of the forty most traded companies on the Bulgarian Stock Exchange, BGBX40, and has been consistently one of the most traded stocks since. On September 16th, Bianor became the tenth company listed on the Premium segment of the BSE.
Over the past twelve months, the company revenue grew 192%, the market capitalization 209%, and the share price 86% to €3.07 per share. Wiser Technology is currently raising up to €12.5M through a new capital increase via the Bulgarian Stock Exchange to continue its expansion.
With 26 production plants across 10 countries, Coca-Cola Istanbul (CCI) produces and distributes beverages for 400 million consumers. In 2018, the company initiated a digital transformation to streamline operations and enhance its customer-focused capabilities. Our partnership with CCI enabled the successful delivery of foundational projects, positioning the company as a digital-first leader in the FMCG sector.
Challenge
Coca-Cola Istanbul (CCI), the sixth-largest bottler of Coca-Cola globally, embarked on an ambitious digital transformation journey to optimize processes, enhance customer experience, and streamline operations. With a sprawling legacy IT infrastructure and numerous vendor dependencies, the company established a new Digital Unit to spearhead these efforts.
CCI’s goals included delivering several large-scale internal projects such as Digital Customer Experience, Loyalty Management, and the high-priority NextGen CRM. However, the chosen eBest SFA solution, designed to automate sales processes, failed to meet their integration needs with existing ERP systems. Facing a tight deadline, CCI required a partner to co-lead the initiative, providing technical expertise, agile delivery, and operational alignment across all regions.
Our Approach
We partnered with CCI to co-lead their digital transformation and deliver critical projects under their Digital Unit. Our work focused on optimizing processes, accelerating delivery timelines, and enhancing visibility into program progress.
Key actions included:
Program Audit: Conducted a comprehensive evaluation of the program structure, goals, and progress, culminating in a detailed Management Improvements Report.
Team Restructuring: Introduced cross-functional squads and strengthened technical leadership, fostering greater collaboration and accountability.
Agile Practices: Improved requirements-gathering processes and implemented agile templates and procedures to standardize workflows.
Standardized Criteria: Established clear technical design standards and introduced Definition of Ready (DoR), Definition of Done (DoD), and acceptance criteria to align team deliverables.
Delivery Velocity: Implemented changes that quadrupled the velocity of delivery teams, enabling efficient monthly delivery cycles.
Impact Delivered
4X Velocity Improvement: Accelerated delivery team performance, significantly boosting project timelines and efficiency.
Streamlined Delivery Cycles: Established monthly delivery cycles, enhancing progress visibility and improving management oversight.
Enhanced Program Goals: Improved team planning and commitment, aligning all efforts with the strategic objectives of the digital transformation initiative.
The shares of Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, are now traded on the Premium segment of the Bulgarian Stock Exchange (BSE)
Over the past 12 months, the company revenue grew 192%, the market capitalization by 228% to about €38M, and the share price by 85% to €3.09 per share
Wiser is currently raising €12.5M through a new capital increase via the Bulgarian Stock Exchange, scheduled to commence on September 17, 2024
Sofia, Bulgaria, September 16, 2024 – As of today, September 16, 2024, the shares of Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, are now traded on the Premium segment of the Bulgarian Stock Exchange (BSE).
Over the past 12 months, the company revenue grew 192%, the market capitalization by 228% to about €38M, and the share price by 85% to €3.09 per share. Wiser Technology is now among the most actively traded companies on the BSE and was included in the BGBX40 index earlier this year.
Kosta Jordanov and Assoc. Prof. Manyu Moravenov, Ph.D.
“The move to the most premium segment of the Bulgarian Stock Exchange is a direct result of investors’ trust.“
“I am pleased to welcome one of the fastest-growing technology companies on the Bulgarian Stock Exchange to the Premium segment. In addition to demonstrating liquidity and share price growth, the company has shown a positive attitude and transparency to its investors. From what I’ve observed, I am confident Wiser has the potential to become a successful international player, and we will be proud when it eventually lists on a major global stock exchange,” said Assoc. Prof. Manyu Moravenov, Ph.D., member of the BoD and CEO of BSE. “The BSE currently needs more companies like Wiser to drive the necessary growth and momentum for our market to advance to the next level – well-positioned to international investors,” added Prof. Moravenov.
“It’s great to see the increasing investor interest in Wiser as we continue to improve the business fundamentals and to grow the business. The move to the most premium segment of the Bulgarian Stock Exchange is a direct result of investors’ trust,” shared Kosta Jordanov, CEO of Wiser Technology. “We’d like to thank the management of the BSE for guiding us on our path initially from the Alternative Market to the Standard segment of the Main Market and now to the Premium segment,” Jordanov added.
Wiser is currently raising €12.5M through a new capital increase via the Bulgarian Stock Exchange, scheduled to commence on September 17, 2024. Last week, Wiser held an open meeting with the investment community to present the parameters of the upcoming capital increase and the company’s development plans. Materials and a recording of the meeting are available at https://www.bianor-holding.bg/posledni-resultati/.
from left to right: Dimitar Dimitrov, CTO at Wiser; Kosta Jordanov, CEO at Wiser; Angel Stefanov, Partner at BlackPeak Capital; Ivan Dimitrov, CPO at Wiser
192% year-over-year increase in consolidated revenues
On a pro-forma consolidated basis the revenues surged to €13.8M for the first half of 2024
Sofia, Bulgaria, August 29, 2024 – Bianor Holding AD (BSE: BNR), operating under the Wiser Technology brand, announces a 192% year-over-year increase in consolidated revenues for the first half of 2024. Revenues reached €4.3M, up from €1.5M during the same period of 2023.
On a pro-forma consolidated basis, which includes the revenues from the companies acquired earlier this year, Wiser’s revenues surged to €13.8M for the first half of 2024. This is an over nine times increase compared to the same period of 2023. The newly acquired companies are consolidated in Wiser’s profit and loss reports starting with the third quarter of the year, and their effect will be reflected starting with the next quarterly reports.
“We anticipate continued rapid year-over-year revenue growth in the second half of the year and positive financial results for the full year.“
Wiser reported a negative financial result before interest, taxes, and depreciation of €0.2M and a net loss of €0.3M for the first half of 2024.
“We anticipate continued rapid year-over-year revenue growth in the second half of the year and positive financial results for the full year, despite the significant focus and investments this year to support our aggressive expansion,” said Kosta Jordanov, CEO of Wiser. “In the first half of the year, we had over €0.2M in one-off M&A-related costs. Most of those are now behind us, and we refocus our investments towards the integration of all the companies in the group under a single organizational structure and brand and in the international expansion of our sales channels,” added Jordanov.
Wiser is planning a capital increase of up to €12.6M through the Bulgarian Stock Exchange in the second half of the year. The company invites all members of the investment community to an open meeting on September 11th, 2024, at 4 p.m. at the Hyatt Regency Sofia Hotel. During this meeting, Wiser’s management will provide further comments on the company’s financial performance and more information about the company’s growth plans, as well as the objectives and parameters of the upcoming capital increase.
