Last updated on
On September 4, 2025, following a resolution by its shareholders and Board of Directors, Klear took an important step forward: ITF Group AD (ITF) became the company’s new majority shareholder.
Changes in management
- Sergey Panteleev has been appointed as the new Chief Executive Officer (CEO) of Klear. He will be focusing on the company’s overall development, investor relations, and the strategic allocation of resources.
- Diyan Georgiev has been appointed as Executive Director responsible for Risk, building on his extensive experience in credit risk management and sustainable financial practices.
- Loic Le Pichoux, founder and long-standing CEO, is stepping down. The company thanks him for his dedication and wishes him success in the future.
- Boris Ilinov, part of Klear since its inception, will be responsible for Finance and Product Development.
What does it mean to be a majority shareholder and strategic investor?
ITF has become the largest shareholder in Klear by acquiring the stakes of the founders, institutional investors (including Varengold Bank) and a group of individual investors. New Vision 3 – a venture capital fund co-financed by the European Regional Development Fund under the Operational Programme “Innovation and Competitiveness” 2014–2020, and managed in Bulgaria by the Fund of Funds – retains its shareholding.
A “strategic investor” means that ITF has joined with a vision for long-term development, not short-term financial gain. The aim is for Klear to become a market leader in Bulgaria and the region, and an important part of ITF’s future growth strategy.
Why is this deal important?
ITF will provide both financial resources and know-how, helping Klear reach more people and businesses. This will accelerate our mission: to become the leading platform for alternative financing and investing, while staying true to our values of fairness, transparency, and accessibility.
How will we achieve this?
With ITF’s support, we will:
- Better position our existing products
- Fully scale up financing for micro, small, and medium-sized businesses
- Leverage the embedded finance solution we developed together with FinBiz Technologies, which has already proven its effectiveness
What do ITF and Klear’s management think about the opportunities ahead?
“With this deal, we gain innovative solutions that enable quick and easy servicing of clients in two new market segments. This will allow us to accelerate the company’s growth and strategic development, as well as achieve long-term diversification of our funding sources. And in these new areas we will continue to deliver the excellent customer experience that is in our DNA and the foundation of our successful business model.”
– Svetoslav Angelov, CEO of ITF
“With the backing of ITF, Klear will accelerate its growth and become the go-to platform for everyone seeking alternative financing and investments. My focus will be on strategically developing the company, building long-term partnerships with investors, and allocating resources where they will create the greatest impact for our clients. Together with the team, we will continue to deliver high-tech, accessible, and fair solutions. “
– Sergey Panteleev, CEO of Klear
What does this mean for you?
Who is ITF?
ITF is a leading Bulgarian fintech and non-bank financial services company, operating the brands SmileCredit and Get Cash. It is one of the few fintechs in Bulgaria financed mainly through the local capital markets – via bond issues and a BEAM listing. With the acquisition of Klear, ITF is also entering the online SME financing segment.
If you have a loan with Klear
- No changes to your contract – your installments, interest rates, and repayment terms remain the same.
- You will continue to receive the same transparent and fair service.
- In the future, you will benefit from faster processes and more convenient digital services.
If you have investments with Klear
- Your rights and conditions do not change.
- The platform will become even more stable thanks to the financial support of ITF and the synergies between the two companies.
- In the future, you can expect new investment opportunities.
