Rositsa Chopeva, founder and CEO of xFigureFinance, knows how to help idea-driven companies to scale up and grow
When the ideas for starting a business or the future growth of your current company both excite you with their potential and scare you with the risks of the unknown, Rositsa Chopeva is the professional you need. The founder and CEO of xFigureFinance has spent years building the skillset and knowhow of helping businesses to thrive, even in a challenging environment. Her company has a stellar record in recognizing business ideas with potential and finding the investments they need.
How and why did you decide to found xFigureFinance?
I know that for some of your readers starting a business might sound like a difficult decision. The thought of making a living off something you have built from scratch usually goes hand in hand with the pessimism that you might be making a costly mistake you cannot fix.
For me, this decision was a natural one and a logical outcome of my professional journey.
For more than 15 years I have helped companies validate and realize their projects through different instruments like financial analysis and fundraising. I have worked in the largest auditing companies, banks and businesses in Bulgaria and I saw firsthand how important this financial perspective was for the stability and sustainable profitability of the projects. I was also able to participate in each step of the process and understand the way of thinking of both entrepreneurs and investors and bankers.
That is how, backed by solid practice and confidence in the added value of this service, I founded xFigureFinance. Now I am happy to share this vision with my team and clients.
There is a miracle in every new beginning, they say. In this respect, xFigureFInance is a new brand but it steps on a solid basis of experience, knowledge and commitment. This predetermined its success.
What have you achieved with xFigureFinance?
We are happy that in the past two years, xFigureFinance achieved significant progress. I and my team are thankful to all business organizations and company owners that trusted us. Their trust and desire for success let us lead a number of interesting projects. Just a few examples: we are attracting a strategic investor for a dynamically growing company in Bulgaria, helping a food production business expand its capacity through plant acquisition and structuring project finance for a large-scale photovoltaic project.
Why did you decide to concentrate on helping small and mid-size businesses?
If you were making this interview just three years ago, I would have told you that I worked exclusively for the largest food holding in Bulgaria helping them validate new investment projects, manage relationships with banks and raise capital from investors.
But during that time, I was also closely monitoring the market and noticed two interconnected trends that made me refocus towards mid-size companies.
The first one is related to the continuous ambition of small and mid-size businesses to grow. Driven by successful entrepreneurs, they aim to develop, enter new markets and scale up. With these ambitions comes the need to raise capital and fuel the desired growth.
The second point stems from the importance of being successful in fundraising that requires a specific set of knowledge and understanding of the investor etiquette.
We have to be honest – capital raising is very much related to knowing the environment, preparing the right documents to stand out and help investors quickly understand the concept and make a decision.
What we noticed is that small and mid-size businesses always use internal and external accounting services, but rarely have a strategic finance partner to validate their growth plans and manage the funding.
On the other hand, the big consulting companies that have the expertise to do it were very much focused on large-scale projects.
That is how we designed our services for small and mid-size owners. We help them make adequate financial decisions and secure funds. More importantly, we provide our specialized expertise on demand when the business needs it.
What are the biggest challenges that small and mid-size businesses face nowadays and how can xFigureFinance help?
The Covid-19 crisis raised many questions and put many companies to serious tests and unprecedented situations. One of the main issues is the lack of predictability of the environment that sometimes even paralyzes business decisions. In this situation it is very difficult to give general advice and make plans. But still, we always advise our clients that now is the time to focus on our business priorities, be close to our customers, keep the fixed costs low and manage working capital. This is what we do for our clients: we help them analyze and plan their business, so as to ensure sustainable cash flow. But we also help them seize the opportunities in the market.
What is the most important thing a company has to know and do in order to grow in the current environment?
Understanding the market, the changes in the environment and the ability to adapt to these changes are only the basics. Then comes foreseeing the effects, the formation of new trends, recognizing and seizing opportunities. I am proud to say that most of our clients are this type of entrepreneurs. These leaders of small and mid-size companies manage their business with strict control so as to be financially stable, yet they are not afraid to get their feet wet and start new ventures. For me this, the so-called controlled growth, is the recipe of their success. This is the moment when you know the capacity of your company, the potential of the market and you are ready to dive in and grow. This is also the moment where we stand by our clients using our expertise to help them be financially sustainable.
We believe we are at the right time and at the right place and we know that the best is yet to come.
What should a company that searches for funding in the field of energy efficiency be aware of?
If we have to give a simple formula, it will be the combination of experience, strong focus and dedication. That is, we stand firmly together with our clients and manage the fundraising process smoothly through all the steps.
We often say that we are the trusted partner from the idea to the financial success. This has become not only our profession but also our personal cause.