Stikcredit
Founded in 2013, StikCredit is a Bulgarian non-bank consumer finance company licensed by the Bulgarian National Bank since 2016, offering non-collateralised short-term and instalment consumer loans predominantly online via its proprietary cloud-based platform, serving 43,000+ active customers with a 65% repeat-customer rate.
Kilde Score is the platform’s proprietary credit assessment of the borrower, reflecting Kilde’s independent credit view and expressed as a numeric score from worst to best (1.00–5.75). For full details of the credit methodology, including its mapping to a Fitch-style rating equivalent, please refer to this article.
Total value of bonds this borrower has listed on Kilde for investors to fund.
Regulatory status of the borrower: Licensed if the license is required, or 'Not applicable' if no licence is required in its operating market(s).
Total amount of loans the borrower has issued to its own end customers. Reflects the company's overall lending scale.
Outstanding balance of the borrower’s loan portfolio, net of impairment provisions.
Overview
Background & History
Founded in 2013 in Shumen, Bulgaria, Stik-Credit AD (operating under the "Stikcredit" brand) is a leading Bulgarian fintech consumer lender, registered with the Bulgarian National Bank (BNB) since 2016 as a non-banking financial institution under No. BGR00370. The company is privately held by founders Hristina Todorova and Stefan Topuzakov. Stikcredit has grown to 230k+ unique applicants and 43k+ active customers with a ~70% returning-customer rate, employing 60+ staff and supported by 220+ offline affiliate offices across Bulgaria.
Business Model & Lines of Business
Stikcredit runs a fully online, scoring-model-driven, non-collateralized consumer lending franchise on a proprietary cloud-based IT platform — automated decisioning, electronic signature and instant disbursement via electronic payment channels. Products span Payday loans (EUR 50–400, up to 30 days), Installment loans (EUR 100–2,500, 3–24 months) and "Tiberus" used-vehicle loans (EUR 2,500–50,000, 6–60 months) launched in Feb 2024 with a ≤70% LTV. Funding is diversified across bank borrowings, P2P marketplaces (Mintos, Viventor, Bondster) and KILDE facilities, with receivables securing KILDE's pledge.
Key Milestones
Loan portfolio to customers grew from BGN 21.5m (Dec-21) to BGN 29.8m (Dec-24), supported by a record BGN 19m issuance in 4Q24 and a tripling of quarterly loans issued since 2021. FY 2024 interest and fee income reached BGN 33.3m (+35% YoY) with net profit of BGN 6.9m (+20% YoY); total assets BGN 55.4m and equity ratio of 54%. BGN 280m+ disbursed since inception, 83,000+ loans issued in 2024 alone. Audited by Zaharinova Nexia (Nexia International, top-10 global audit network).
Management Team & Organization
Led by Founder & CEO Hristina Todorova (20+ years of experience), Co-Founder Stefan Topuzakov (10+ years) and Chief Operating Officer Svetlin Sabev (10 years). The organization operates centrally from Bulgaria across origination, risk, IT and collections, supported by a national affiliate network of 220+ partner offices. In March 2025, Stikcredit spun off Afranga, its loan marketplace, into a separately licensed crowdfunding service provider — expanding the group's funding architecture alongside its KILDE partnership.
Financials
Outstanding balance of the borrower’s loan portfolio, net of impairment provisions.
Total income (interest and fee income) generated from the borrower’s lending activities.
Products
Typical contractual tenor of the loans disbursed by the borrower to its end customers.
The effective Annual Percentage Rate of the loan charged by the borrower to its end customers, inclusive of interest and fees.
Typical principal amount disbursed by the borrower to its end customers per loan transaction.
Expected share of non-performing loans (NPL) — loans where the end customer has stopped repaying — under this product, shown as a range.
Share of this product in the borrower's overall loan portfolio. Shows how much of the lending business comes from this product.
Market Data
According to Fitch Rating
Annualised
Annualised