Ruslan Leteyski Invests in CloudCart and Marks the Start of a New Capital Raising Round for the Bulgarian Tech Company

The eCommerce sector has been one of the main drivers of economic development in recent years, and the Bulgarian tech company CloudCart has been contributing to this with over 2,000 active online merchants in 7 countries, realizing over 300 million euros in orders in 2022.

However, the company's ambitions go beyond Bulgaria. That's why CloudCart announced the launch of a new investment round - Pre-series A, in which funds will be raised, necessary for accelerating growth in Romania, Greece, and several other strategic markets.

The company also announced its first investor in the round - Ruslan Leteyski - the creator of the Shopify plugin Checkout X, which has thousands of global clients and is involved in several eCommerce projects.

At just 22 years old, Ruslan Leteyski created Checkout X - an application that enhances the user experience during purchase and offers opportunities for additional sales after purchase (Post-purchase upsells). The successful entrepreneur stands out with skill and vision for transforming online commerce - three years after its market launch, the company has processed over 17 million transactions, generated GMV of 680 million euros in turnover, and contributed more than 44 million euros in additional revenue for its merchants.

According to Nikolay Iliev, co-founder and CEO of CloudCart:

‍"Ruslan Leteyski's investment is a huge recognition of our work and further verification that we are moving in the right direction with our product. With his support, we will further accelerate our ambitious plans for expansion and development of innovations in e-commerce."

In 2020, the innovative startup CloudCart attracted an investment of 1.25 million euros from New Vision 3 (NV3), which accelerated its growth and provided the opportunity to develop its product and team.

CloudCart's current campaign aims to raise 3 million euros in the pre-Series A funding round. This round comes 3 years after the first investment and allows current and new investors to maintain and expand their shares in the leading eCommerce platform. This strategic initiative aims to solidify CloudCart's position as a market leader in online commerce and to support the development of online business in the region - without the need for advanced technical knowledge or significant infrastructure investments.

A key factor is the startup's strong role in building a successful local eCommerce ecosystem in Bulgaria and the region

CloudCart's approach includes establishing strategic partnerships right from the initial stage of entering a new market, such as payment service providers, courier and ERP systems, etc. CloudCart employs a local approach and guarantees support for its clients through its ecosystem of experts for every business.

Ruslan Leteyski shares his excitement about this investment, saying:

"The main reason I support the company is that CloudCart is actively developing the Bulgarian eCommerce ecosystem. Compared to major players like Shopify, CloudCart distinguishes itself with its local approach. They not only understand the specific needs of local merchants but also successfully adapt this approach to every new market they enter. I firmly believe that the company has a positive impact on the development of online commerce throughout the region."