Isle of Man-registered fintech company Kuady said it has opened a new office in Bulgaria, seeking to hire at least 100 employees.

“The new office marks a significant milestone in Kuady’s ambitious growth plans, having recently launched its digital wallet in Peru and Chile, with further expansion in Latin America, Europe and Africa planned,” the company said in a press release on its website.

The Kuady team in Bulgaria will focus mainly on the continued development of the company’s recently launched digital wallet.

“Kuady is taking advantage of Bulgaria’s rich blend of tech talent and fintech operational expertise – making it an ideal hub for key product development activities, operations, and strategic alliances,” the company noted.

The office in Bulgaria is a joint venture with PayRetailers, which has invested in Kuady.

“Our expansion into Bulgaria is a major milestone as we develop the Kuady digital wallet and expand into new markets. We’re ambitious people and we chose Bulgaria for its rich pool of fintech talent, robust tech infrastructure, and dynamic business environment. The expertise and innovation here will be instrumental in accelerating the development of our digital wallet. Bulgaria’s thriving tech community make it an ideal base to support our ambitious expansion plans and ensure we remain at the forefront of the fintech industry as we continue to grow and expand into new markets,” Lorenzo Pellegrino, Kuady’s CEO, said in the press release.

Kuady was set up in July 2024 as a digital wallet app.