“Ethic Finance” AD is an internet company with a vision of corporate and social causes. The company’s main goal is to develop as a modern financial-technological company offering innovative high-tech products and services with high added value and highly competitive competence in the areas of ethical finance, economics and e-business. The vision for the development of the company for the period 2018-2020 is related to the establishment of the “Financial Institution for Ethical Financing of Entrepreneurship”. This is an organizational step towards creating the conditions for the promotion of the principles of economic self-help and mutual assistance as a means of financially strengthening the small and medium business, of spreading and developing e-entrepreneurship as the most important prerequisite for the creation of new jobs, of income and improving the quality of life in Bulgaria.

The company was founded in May 2010 under the name “Atlas Finance” AD by separation from “Saedinenie” AD. Regarding that, the company is also the winner of the tradition of the National Investment Fund “Saedinenie”, established in 1991, which issued shares and financed small and medium-sized enterprises at the dawn of the market economy in Bulgaria, as well as the experience of the privatization process, learnt from “Saedinenie” Corporation. with more than 32 enterprises and dozens of projects. The company is the successor of “Populyarna kasa-95” AD with 15 years history of the money and capital markets, one of the founders of the Stock Exchange in Plovdiv, which later entered the BSE – Sofia.

In 2016 the company was renamed “Ethics Finance” in line with its mission to promote ethical finance in Bulgaria, offering ethical financial services to their clients and to participate actively in public life, offering innovative products and services to high-tech level and highly competitive competence in finance, economics and e-business.

The company is a member of the Union of Economists in Bulgaria and the Association of Industrial Capital in Bulgaria. Initiator for the establishment of the Civil Association for a new high-tech industrialization of Bulgaria (Bulgarian association of credit cooperatives and microfinance organizations / BACCOM / associations of ethical finance.


“Ethics Finance” AD owns a conglomerate of business sites as a new alternative for business development through e-commerce, cooperation, financing, distribution and marketing of products and services.

  • www.efinance.bg – Corporate, information site of Ethic Finance AD;
  • www.FinanceBG.com – Finance and Business Media;
  • www.eSpisanie.FinanceBG.com – electronic magazine for financial news, analysis, forecasts and publications ;;
  • www.FinTV.eu– Innovative media site for financial and business information;
  • www.e-Cluster.eu – Main site – E-Business Cluster portal;
  • www.atlasnet.bg – Business Network for the Bulgarians in the World – Cluster Project;
  • www.anonsi.bg – С2С free ads site;
  • www.bg-wiki.org – Free online business encyclopedia of Bulgarians around the world;
  • www.kefp.eu – Website of the “Association for ethical finance” (AEF);
  • www.baccom.eu – Web site of the Bulgarian Association of Credit Cooperatives and Microfinance Organizations (BACCOM)
  • www.popkasa.bg – Information platform in the field of finance
  • www.coinplatz.com  – a website for consultation and brokerage of cryptoactives

Design ideas under construction:

  • buletin.bg – A stand-alone site (platform) for disclosing information to the public of issuers, public companies, NGOs and others.
  • TopMol.eu – Electronic shopping mall, B2C site with retail shop windows for small merchants for sale of single items.



Dr. Eng. Petar Neychev

Chairman of the Board of Directors of “Technology and Innovation Corporation” AD and member of the Board of Directors of four public companies. Founder of „Bankservice“ AD in 1989. He implemented IT at  Мetallurgical company „Kremikovtzi“- 1973-1978, the banking system 1980-1989, lecturer. He is the winner of „Paul Harris“ Charity Award of Rotary International, the Honorary Medal for the People with Good Hearts of the “Help the Needy” Foundation for 2007 and the Plovdiv Prize of Plovdiv Municipality for Charity in 2008. Author is five books in the field of finance and technology.


Prof. Dr. Asen Konarev

Project Manager for the Higher School of Informatics and Electronic Leadership” Mahatma Gandi”. He defended his doctoral dissertation on “Mathematical Models in the Economy” in 1982. Professor of Economics and Management since 1987. Member of the Board of Directors of two public companies, a long-term university lecturer, author of over 12 books.


Dimitar Gishin – Lawyer

Chairman of the Management Board of Cluster for Ethical Financing of Entrepreneurship – Plovdiv, Bulgaria; Legal Advisor to the Management Board of Bulgarian Association of Credit Cooperatives and Microfinance Organizations; Chairman of the Board of E-Business Cluster. Lawyer at the Plovdiv Bar; Member of the Union of European Lawyers; Sworn translator from and in English, Russian and Bulgarian languages, registered at the MFA. As a representative of the employers’ organization – Association of Industrial Capital in Bulgaria, Mr. Gishin is a member of the Development Council of the Regional Administration – Plovdiv and a member of the Development Council of the South Central Region in Bulgaria.

Venelin Yordanov

Master of Economics and Law. Member of the Bulgarian Association of Credit Cooperatives and Microfinance Organizations. Executive Director of “Tech Park Optela” AD, E-Business Cluster, Chairman of the Management Board of Civil Society for New High Tech Industrialization. Mentor under the “Student Practices” project of the Ministry of Education and Science. Member of the Editorial Board of Finance and co-author of several books in the field of finance.

Petya Ilarionova

With over 30 years of experience in finance and information technology. Participated in the development of banking software as an application programmer at “Bankservice” AD. Head of “back office” in investment intermediary “Populyarna kasa-95” AD. Executive Director of IT Academy and Chairman of Cluster Informatics. Mentor under the project “Student Practices” of the Ministry of Education and Science.


Eng. Georgi Paleshnikov

Manager of IIHT-Bulgaria EOOD, Plovdiv, which is a franchise partner of the Indian Institute of Hardware Technologies, based in Bangalore, India. Master in Computer Systems and Technologies at Technical University – Sofia, licensed investment consultant from Financial Supervision Commission /FSC/. He participated in the creation and management of two companies in the IT industry, which are wholly owned by German IT companies (EUROS Bulgaria Ltd. and CSB-SYSTEM Bulgaria Ltd.). He was a guest lecturer at the University of National and World Economy in 1994-1996 and also at the Faculty of Economics at „Paisii Hilendarski“ University in 1998-2001.

Ginka Milusheva-Kalaidjieva


She has graduated “Management and Marketing” and “Human Resource Management” at “Paisii Hilendarski” University in Plovdiv. She has worked as a specialist-shareholders in “Saedinenie” Corporation AD/SA, Chairman of the Internet Cooperative Populyarna kasa/Popular Fund – Plovdiv, Executive Director of Investment Intermediary “Populyarna kasa 95” AD, Executive Director of “Ethic Finance” AD and of the Bulgarian Association of credit cooperatives and microfinance organizations “. She is a member of the “Union of Economists in Bulgaria”, “Civil Association for New High-Tech Industrialization”, “E-Business Cluster” Board of Directors and “Association of Ethical Finance” (AEF). She is involved in publishing of several books in the field of finance. Mentor under the “Student Practices” project of the Ministry of Education and Science.


Ognian Dechev

He graduated Bulgarian Philology at the Plovdiv University “Paisii Hilendarski”. Graduate in Finance and Credit at University of Нational and World Economy – Sofia. He worked for 12 years as an editor in “Banks Investments Money” magazine. He works in the online media financebg.com as an editor. He is involved in publishing several books in the field of finance.

He worked as Executive Director and Securities Broker in “Populyarna Kasa 95” AD.

Licensed Stock Broker since 1997.


Stefan Prochev

A longtime professional journalist. He has a specialization in economic journalism at the Union of Bulgarian Journalists. He works mostly in print media – newspapers, magazines, but he is also one of the start-up team of the National Radio Mila FM. As a result of his overseas business trips he has numerous publications in the local and national press on current economic issues of many European countries – Czech Republic, Poland, Russia, Greece, Scotland, Italy, Spain, Sweden, France and others. Some of these overseas reports have been published in collections in both Bulgarian and foreign languages. He has been a serious editor and author of magazines from an interesting and up-to-date market field like Banks, Investments, Money, and Finance. Editor of specialized editions and tools in the field of securities trading and foreign exchange trading. With two more highly qualified financial experts – Dr. Petar Neychev and Dr. Tode Todev, he is the co-author of the documentary-publicistic book “Banking crises and the truth about Agrobusinessbank”. He is currently the Deputy Editor-in-Chief of Online Finance, a prominent journalist with a well-known name and a long history.