A week ago, we promised more exciting updates and we always deliver on our word. After giving a warm welcome to our new Partner Svetozar Georgiev and our Chief AI Officer Petar Petrov, the new additions to the #Oneof11 family don’t stop here. The team keeps growing and today we are thrilled to welcome Stoil Vasilev as a Venture Partner. Stoil is currently Vice President of Corporate Development at global fintech SumUp and he brings an abundance of experience and expertise from the financial services industry. Thus, further strengthening our ability to provide exceptional support and guidance to our portfolio companies. This latest addition underscores our dedication to assembling a team of professionals who share the common goal of empowering local heroes to build global success.
Who is Stoil?
Stoil has a demonstrated history of working in the financial services industry, in charge of fundraising initiatives, financial modeling, M&A activities, finance and operations. He has spent the past eight years at SumUp. As a person who has been with the company for so long, he has been part of several transformations and over the years his role has evolved. In the beginning, when SumUp was still an early-stage startup, Stoil was responsible mostly for fundraising, FP&A and M&A, while doing whatever necessary for the company to grow – coordinating the work of other teams, as well as rolling up his sleeves and getting the job done. Fast-forward to 2018, when SumUp started to grow rapidly, his role advanced as a leader of the fundraising, M&A and investors’ relations team. Stoil will continue his journey with SumUp as he takes on an additional role at Eleven.
His role at Eleven
With his extensive background and understanding of the fintech landscape, Stoil is poised to contribute his invaluable insights to our team and portfolio companies, supporting them in navigating the complexities of the market. In fact, he has already been with us for quite some time as an Entrepreneur in Residence – providing advice and hands-on support, helping our founders move forward with their companies, especially when it comes to finance, fundraising, strategy, and product. Now, his role is evolving into that of a Venture Partner, marking an exciting new phase in his journey with us.
Stoil undoubtedly brings immense value, offering strategic support and analysis of recent and projected industry trends and data. His expertise will prove instrumental in guiding founders through end-to-end fundraising processes, including crafting robust strategies, selecting the best instruments and investors, articulating company strategy, financial modeling, utilizing industry trends and data, competitive analysis, fostering relationships with potential future investors, and developing M&A strategies.
Stoil’s philosophy and approach to sharing his experience is founded on the belief that there is no universal formula for success: “I don’t believe that there is a universal right or wrong path and definitely don’t have a textbook that founders can follow to be successful. I am, however, ready to share my experience and challenge their thinking, in order for them to make the best decision.” With a commitment to empowering founders and fostering their growth, Stoil embodies the collaborative spirit that defines Eleven’s mission.
Getting to know him better
1. What would you say is your #1 “superpower”?
Not really sure I have any superpowers. I am just a regular person who was in the right place at the right time and got lucky to work with a world class team, who helped me to get better. Maybe if there is one thing that is very typical for me, it is the fact that if I really want something, I don’t give up, which is super important in the startup world.
2. Knowing what you know now, what advice would you give your 18-year-old self?
There are many things in my life that are clear mistakes but all of them taught me lessons. Of course, I realized that much later so the advice would be to allow yourself to reflect on your mistakes more and learn from them. Even though that sounds deep, I cannot say I do follow this advice today.
3. Do you live by any motto or core principle?
Sometimes people try to condense their values in one motto and sometimes they have a bunch of principles. I don’t have any such motto or principles that are clearly defined and I follow, which doesn’t mean that I don’t have certain values. I just don’t have them written down, memorized and ready to pull when asked.
4. Aside from necessities, what one thing could you not go a day without?
Not sure there is such a thing, maybe a cup of strong coffee. Though I consider this a necessity.
5. What was the last book you read? Which is your all-time favorite one?
Recently I decided to go back to school and I have been reading a lot of textbooks, but I’m not sure that counts. When I don’t study, I read work related stuff and when I commute or exercise, I listen to audiobooks. The last paper book I read was The Premonition by Michael Lewis. I can’t say that I have a favorite book, but I have a library of books that I constantly promise myself I would read when I have time.
Stoil’s expertise and domain knowledge, coupled with his unwavering commitment to empowering entrepreneurs, makes him an invaluable addition to our team. We are excited to witness the positive impact he will have on the fund and our portfolio companies, and look forward to the collective growth and success that lies ahead.