Investment & Fund Management

Balkan Herbs, a family-owned business based in Veliki Preslav, Bulgaria, specializes in creating herbal products from wild plants sourced from the Bulgarian mountains. Founded in 2013 by Theodora Kancheva, the company initially focused on selling small quantities of raw materials to organic tea producers. Over the years, the business experienced steady growth, culminating in a significant partnership with Sonnentor, Europe’s second-largest organic tea producer, in 2020. This collaboration marked a pivotal moment for Balkan Herbs, leading to a substantial increase in turnover.

In 2022, the company secured EU-guaranteed financing of €60,000 through the Bulgarian Development Bank, which played a crucial role in their expansion efforts. As a result of this funding, Balkan Herbs saw its turnover soar to approximately €2 million. Anton Kanchev, the CFO, attributes this growth to a combination of factors, including their strategic approach to business development, which emphasizes steady, incremental growth rather than rapid expansion.

Bulgaria is a leading producer of aromatic and medicinal plants, and Balkan Herbs capitalizes on this by offering specialized herbal teas developed in collaboration with a botanical professor. These products are designed to provide health benefits for various conditions, such as heart problems and blood sugar issues. Looking ahead, the company is also exploring new product lines, including herbal powders for cooking and smoothies, which they have begun selling on Amazon in the German market and in local Bulgarian stores. Anton Kanchev expresses a cautious optimism about future expansion into other European markets, emphasizing their commitment to a step-by-step growth strategy.