The real estate sector has long been a male-dominated industry, traditionally led and influenced by men. Yet, in recent years, especially in Bulgaria, we’ve witnessed a shift: more women in startups and real estate are taking the lead and establishing careers with meaningful impact.
Despite this, persistent gender disparities remain. According to Bulgaria’s National Statistical Institute, the gender pay gap in real estate reached its peak in 2022 with women earning 10% less on average. Even though 55.7% of employees in the field are female, their annual wages remain 19.5% lower than their male counterparts. This is just one example of the challenges faced by female founders in traditionally male spaces.
With over 1500 real estate agencies and countless brokers competing in Bulgaria’s property market, the industry is both fragmented and resistant to change. Now, picture leading a female-led startup of just 8 people trying to disrupt a 35-year-old ecosystem with entrenched practices and outdated standards. You’re not just pushing a product—you’re challenging an entire startup culture.
Now imagine this: a 30-year-old female CEO with an international background in investment and development, pitching to seasoned male investors unaccustomed to seeing women in power. Alongside her, a female COO and a Marketing Manager—an all-female leadership team committed to creating a transparent, digital property rental platform. That is the current management structure of flatimo, the startup attempting to redefine the industry while navigating gender bias in entrepreneurship.
In this piece, we share our insights, built on real stories from the flatimo leadership team: CEO Sophia Topalova-Zlatkova, COO Nevena Borissova, and myself. Our aim is to offer support to other female entrepreneurs walking a similar path.
Drop the Ego. It’s Not Personal.
First, stop seeing yourself primarily as a woman in business—start seeing yourself as a competent professional. When engaging with male investors, the key is confidence and mastery of your domain. You must be rooted in data, strategy, and problem-solving.
Sophia has faced numerous cases of gender bias in entrepreneurship, including being overlooked during meetings despite being the CEO. Investors would direct their follow-up queries to male board members, even when she had led the entire pitch. Only through patience and perseverance did she manage to establish credibility.
Nevena recalls a friend in construction who hired a man solely for optics. He held a management title but made no strategic decisions—his role was to add perceived legitimacy to her otherwise female-led startup.
We’ve also dealt with demeaning remarks such as “Do you hire these women based on looks?” and “I won’t speak to little women,” directed at female tenants or team members. While disheartening, we’ve learned that change takes time, and we must continue using every chance we get to discuss these systemic issues.
Be Overprepared—Because You’ll Be Tested
It’s not enough to be good; in this world, female founders must be exceptional. Prejudice still persists, and you may face extra scrutiny. In such situations, being overprepared is your greatest weapon.
Nevena recounts a meeting where a male client from the construction sector grilled her and her colleague with veiled condescension until they proved their deep understanding of the subject. After thirty minutes of pushback, he finally acknowledged their competence. This experience speaks volumes about the resilience and preparation required from women in startup culture.
Studies have shown women are often more self-critical and underestimate their knowledge. One-third of the gender gap in financial literacy is linked to this confidence gap. Education and mentorship are critical tools to help overcome this mindset and reinforce a sense of self-assurance.
Uplift the Next Generation: Women as Mentors
Women in startups bring more than innovation—they bring empathy, adaptability, and community-building. Leadership from women often leads to better communication, inclusion, and employee well-being. It’s no surprise that mentoring plays a key role in this journey.
Stanislava’s career was shaped by a manager who saw her potential and pushed her beyond her comfort zone. When asked to speak onstage to 500 sales professionals two months into a new job, her initial reaction was panic. But her mentor’s belief in her abilities gave her the confidence to succeed. That mentorship has since become her internal compass in challenging moments.
Finding the right mentor—one who listens, aligns with your values, and guides rather than dictates—can accelerate both personal and professional development.
Breaking into a male-centric industry like real estate isn’t easy. But female founders are changing the narrative. It requires confidence, preparation, resilience, and the support of strong mentors. Despite ongoing gender bias in entrepreneurship, women are rewriting the rules—pitch by pitch, meeting by meeting. The team at flatimo knows this well. And while the system still needs fixing, the courage of women in female-led startups is steadily paving the way for a more inclusive, forward-thinking startup culture and gender dynamic.
