Bozveliev was born in Constantinople (Istanbul), the capital of the Ottoman Empire, to the family of Bulgarian tobacco merchant Tenyo Bozveli.
On his father's side, Bozveliev descended from the cleric and Bulgarian National Revival figure Neofit Bozveli.
He attended a school in Kazanlak, even though he dropped out to find a job, he continued his studies and learned Russian and French by himself.
However, Bozveliev and Sava Mutafov (another former siromahomilstvo activist) opposed the foundation of a new party, as they were wary of government repression.
His body was encountered by the writer Dimitar Hristov Chorbadzhiev ('Chudomir'), who noted that Bozveliev had died while going through historical papers in the archive.