Bulgaria now proudly counts a second unicorn company - Shelly Group, formerly known as Allterco, has reached a market valuation exceeding billion. Following in the footsteps of Payhawk, the company behind smart home and energy automation products officially crossed the milestone, as confirmed by founder and CEO Dimitar Dimitrov. Traded on both the Sofia and Frankfurt stock exchanges, the firm has emerged as one of the fastest-growing public tech companies of the past decade.

In a statement posted on social media, Dimitrov described the achievement as more than just a financial benchmark. “Reaching a valuation of billion is a significant step in the growth of Shelly Group. It represents the trust in our vision, the hard work of our team, and the real-world impact of our products in homes and businesses globally,” he wrote, emphasizing the strong support received from customers, partners, and the broader community.

The company, launched in 2010 under the name Alterco, began with a small team and a focused mission. Over the years, it expanded rapidly to become a key player in the smart technology space. Dimitrov now leads the company alongside Wolfgang Kirsch, while co-founder Svetlin Todorov is responsible for managing operations in the United States.

Shelly Group made its debut on the Bulgarian Stock Exchange in 2016 under its original name. At the time, shares were priced at 1.45 leva. By June 2025, they had surged to approximately 89 leva - marking a staggering increase of more than 6000%. The company also entered the Frankfurt Stock Exchange in November 2021.

With its headquarters in Bulgaria, Shelly Group operates through seven subsidiaries and maintains offices in several countries, including Slovenia, Germany, Poland, the United States, and China. Its smart devices are now available in more than 100 global markets, cementing its position as a major international player in smart home solutions.