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November 9, 2023

From left to right – Petar Petrov, Nikola Lazarov, and Nikolay Babulkov, co-founders of 


Eilla’s inception was a product of an insatiable curiosity and a clear vision of what AI could bring to the financial world. While studying at the University of Cambridge with a Masters in AI, Nikola Lazarov (co-founder and CEO) worked on ChatGPT’s predecessor and Generative AI for his thesis. From there, he transferred his knowledge to London-based Hedge Fund, where he developed trading strategies using Generative AI. And while the world was still wrapping its head around the potential of models like ChatGPT, he recognized a big opportunity.

Determined to bring his vision to life, he reached out to his lifelong friends from the Bulgarian city of Veliko Tarnovo. Together with Petar Petrov (co-founder and CCO) and Nikolay Babulkov (co-founder and CTO), they set out to harness the power of AI in a way that could mirror the complex tasks performed by financial professionals, but with unmatched speed and efficiency. And as they say, the rest is history.

The financial industry,

traditionally seen as extremely conservative, is undergoing a seismic shift, thanks to the rapid advancements in artificial intelligence. It is second only to the tech sector in terms of AI investment and spend. The global market is witnessing an increasing integration of machine learning (ML) and deep learning (DL) technologies, reshaping the very fabric of financial transactions and services. With great power, however, comes great responsibility, and as the industry leans more into AI, there are growing concerns about transparency, privacy, and ethics. Yet, the trajectory is clear: new finance AI companies such as Eilla are growing quickly to redefine the future of finance, promising efficiency, accuracy, and a new era of innovation. 

In the world of mergers and acquisitions (M&A),

venture capital (VC), and private equity (PE), success hinges on intensive data analysis and precise investment decision-making. However, a significant bottleneck in this process is the sheer volume of mundane tasks that consume valuable time and resources, especially at the junior level. Instead of manually gathering and analysing information for hours, something like mapping out a market could be done in a matter of seconds. And despite its advances, Generative AI has scarcely impacted the finance industry due to several issues: 

  1. Misleading information: Generative AI can sometimes generate convincing yet false financial scenarios, leading to unreliable outcomes.
  2. Lack of industry specificity: Many AI solutions are not tailored to the unique needs of the finance sector, unlike those designed for marketing or other domains.
  3. Limited financial reasoning: Generative AI often falls short when it comes to performing mathematical calculations and drawing meaningful conclusions from financial data. steps into this void

with a mission to redefine one of the world’s most complex workflows – the one of investors and investment bankers. The team currently focuses on tackling some of the most mundane tasks in M&A, VC and PE, while also building the platform together with their clients and partners to address a broader spectrum of industry processes. For example, most of the deal sourcing and pitching processes require extensive research and for professionals to gather information from multiple sources and data providers. Eilla can help identify relevant transactions and public comparables in minutes, which would usually take at least a couple of man-hours. Other examples would be researching a company and its competitors for the creation of a company profile, or analysing funds’ portfolio. In the future, the team plans to support more complex tasks such as the build of financial models, client KPIs analysis, etc.

Eilla’s vision is to transform the traditional data analysis and investment decision-making process into a seamless three-step system: data collection, intricate financial analysis, and results presentation. By doing so, the team aims to make the financial sector more systematic, less biased, and most importantly – to place real-time, actionable data at the fingertips of decision-makers.

The story of Eilla’s team is

woven from the threads of lifelong friendships, shared passions and a hometown that binds them all – Veliko Tarnovo. It’s here that the story begins – Nikola Lazarov and Petar Petrov have been friends since birth, literally growing up together. As for Nikola and Nikolay Babulkov, their friendship blossomed in the hallways of mathematical high school “Vasil Drumev”, where they sat next to each other for five years. Later on, as they both ventured into the world of AI engineering, their conversations often evolved around the latest in AI breakthroughs. University years in the UK also weren’t just about studies, as the trio dabbled in various business ventures chasing dreams together.

Nikola Lazarov and Petar Petrov as kids.

Behind Eilla stands a technically proficient team with a wealth of expertise in AI and finance, and what sets them apart is their deep understanding of the industry’s intricacies.This unique combination of technical excellence and personal connection ensures that Eilla AI is well-equipped to not only innovate but also to scale and make a lasting impact on the finance industry.

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