Welcome to Dill Advisory
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Check out our new IFRS9 tools for receivable analysis by the simplified approach and for analysis of instruments, measured at amortized cost.

What We Do

Key services we offer

Strategy advisory


IT Project advisory


Performance improvement and optimization


Transaction support


Project Finance


Financial reporting support


Risk management services


Investment management advisory




Tailored solutions

Financial advisory for lawyers and tax professionals


Financial advisory for financial institutions


Financial advisory for Entrepreneurs


Why Us

We are more than just a service provider. Here is why:

  • Focus

    Our result-oriented approach

    Our aim is to provide you with real life solutions to your problems. That is why we will go the extra mile and give you more than reports and analyses. We will follow up on our recommendations and work side by side with your team until what we envisioned becomes a reality. Whether it is a restructuring of your balance sheet or choosing a business software for you company, we will work with you as a business partner to achieve your goals.

  • Quality

    "No Compromise on Quality" stand

    We strive to maintain high standards and quality in our work. We take our work seriously, even personally. This comes as a result of the combined professional experience of our core team of more than 40 years. During that time we have built long and successful track record on projects in a number of industries and in several countries on four continents.

  • Our team

    We do together

    We know what we can do, but we also know our limits. That is why we focus on finding the right person for your project in our network of top professionals. This gives us the ability to provide exceptional service with a lean and efficient structure of the operations. Nevertheless the partners retain full responsibility by monitoring and reviewing every single project to ensure the quality of the rendered services meets the highest professional standards.

  • Value

    Value for money

    Thanks to our unique structure, we are able to maintain an excellent level of knowledge and expertise with very low administration and other non-core costs. This allows us to be very competitive in what we offer as well as to adapt our offering to your specific project or business case.

  • Quality

The Core Team

Nikolay Markov


Nikolay has over 14 years of experience in the financial advisory sector. He has participated in and managed a large number of projects related to valuations, financial modeling, project finance, corporate financing, restructurings, economic analyses, due diligence, M&A, trainings in multicultural environment and geographies, including Bulgaria, Albania, Greece, Romania, Turkey and the Baltics.

His experience spans over a variety of sectors, including energy and utilities, gas and oil, infrastructure, local and central government, NGOs, heavy industry, building materials, construction, real estate, transportation, retail and wholesale, food and beverage, environmental and waste services, financial institutions, telecommunications, media, professional services, IT and software.

For almost 13 years Nikolay was part of the transaction advisory team of Ernst & Young (Director in EY Bulgaria).

He is also involved in the development and financing of innovative software solutions and business ventures. Nikolay is a CFA ® charterholder and a registered appraiser of businesses.

Nikolay is a co-founder of Dill Advisory.

Stefan Markov


Stefan has more than 13 years experience in management consulting, project management, business software design and implementation (ERP, CRM, BI, custom solutions), IT management, restructuring, business process optimization, financial management and reporting.

He has worked for clients in Bulgaria, the United Kingdom, Bosnia and Herzegovina, Greece, Malaysia, Germany, The Philippines, Indonesia and Egypt.

He has worked on projects in the following industries: wholesale, retail, chemicals, transportation and logistics, ship building, advertising, PR, industrial and building automation, printing, production of building materials, ISP, IT services, software and hardware sales, wood processing, publishing, pharmaceuticals, financial services, construction, infrastructure, naval port, wool.

Stefan is a co-founder of Dill Advisory.

Svetla Dragneva


Svetla has more than 17 years of experience in rendering professional advisory services in Big 4 firms. She was a key member of the transaction advisory team, with major responsibilities in the fields of M&A and real estate valuation. She has led a number of professional assignments including M&A mandates, business valuation, real estate valuation, project finance, due diligence, restructuring, market researches and feasibility studies. Her M&A activity encompasses many high profile deals and large privatisations in Bulgaria.

Svetla has experience in a wide range of industries, including real estate, tourism, IT, telecommunications, energy, financial services, media and entertainment, pharmaceuticals and consumer products. She has served a variety of international and local clients: multinationals, regional and local strategic players, private equity firms, banks, local businesses.

Svetla is a CFA ® charterholder and a registered appraiser of real estate and intellectual property.

Andrey Vassilev


Andrey has extensive background in the area of economic research, modelling and forecasting. He has 15 years of experience as the head of the Macroeconomic Research division of the Bulgarian National Bank, where he has organised and participated in the preparation of various macroeconomic analyses and economic policy assessments, as well as the development of economic models for forecasting and policy analysis. Prior to joining the Bulgarian National Bank, Andrey was the head of the Macroeconomic Modelling and Policy division at the Agency for Economic Analysis and Forecasting with the Bulgarian Ministry of Finance. He has also participated in various projects related to labour market modelling and forecasting, impact assessment and scenario simulation.

Andrey holds an MSc in applied probability and statistics and a PhD in applied mathematics from Sofia University. He has taught various courses in economics and modelling at the Faculty of Mathematics and Informatics and Faculty of Economic and Business Administration of Sofia University “St. Kliment Ohridski”. His research interests include macroeconomic modelling for small open economies, spatial economics and applied econometrics. Andrey has over twenty scientific publications in various academic and practitioner-oriented outlets.

Stoyan Stoyanov


Stoyan is an Associate professor of Finance in the Centre for Finance and College of Business, Stony Brook University. Prior to joining Stony Brook University, Stoyan was a professor of finance at EDHEC Business School and head of research at EDHEC Risk Institute - Asia. He worked for over six years as head of quantitative research for FinAnalytica, a financial technology firm. He has designed and implemented investment and risk management models for financial institutions, co-developed a patented system for portfolio optimization in the presence of non-normality, and led a team of engineers designing and planning the implementation of advanced models for major financial institutions.

He has published over thirty articles in leading academic and practitioner-oriented scientific journals such as Annals of Operations Research, Journal of Banking and Finance, and the Journal of Portfolio Management, contributed to many professional handbooks and co-authored three books on probability and stochastics, financial risk assessment and portfolio optimization. He holds a master in science in applied probability and statistics from Sofia University and a PhD in mathematical finance from Karlsruhe Institute of Technology.

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