Evrotrust Secures €6.6 Million Investment for Expansion
The funding will accelerate the company's expansion and help businesses and citizens meet eIDAS 2.0 compliance.
BERLIN — Evrotrust, a premier European Identity and Qualified Trust Service Provider (QTSP), announced a significant funding round of €6.6 million from TCEE Fund IV, advised by 3TS Capital Partners. This investment is aimed at bolstering Evrotrust's expansion across the DACH and CEE regions.
Impact of the Investment on Evrotrust's Future
This financial backing highlights Evrotrust's commitment to enhancing its compliant digital identity solutions, which include signing and onboarding methods that align with Europe’s regulatory landscape. With the European market increasingly focusing on unifying regulations, this funding positions Evrotrust to seize the opportunity for growth.
A Comprehensive Digital Identity Solution
Evrotrust offers an extensive range of reusable digital identity services as specified under the EU's eIDAS regulation. These services encompass remote identity verification, qualified electronic signatures (QES), qualified timestamps, and electronic delivery solutions.
Key Features of Evrotrust's Offerings
Evrotrust is recognized as an EU-notified electronic identification scheme. Its services, audited at a European level for high assurance, are listed on the EU Trusted Lists for qualified trust services. The company proudly serves over 2 million users across 61 different nationalities and partners with more than 200 enterprises in 11 countries.
The Significance of the EU Digital Identity Framework
The recently updated EU digital identity framework, eIDAS 2.0, has introduced regulations that mandate interoperable, reusable EU Digital Identity Wallets and standardized trust services. This shift underscores the importance of digital identity in Europe’s evolving digital landscape.
Expert Insights
Pekka Mäki, Managing Partner at 3TS, remarked, "Digital identity is becoming a cornerstone of Europe's digital infrastructure. Evrotrust's technology and momentum position them to become the regional leader, and we're thrilled to support their next phase of expansion." This sentiment reflects the growing recognition of digital identity solutions as essential for future growth.
Streamlining Onboarding and Signing Processes
In regions like Germany and Austria, Evrotrust facilitates streamlined, automated onboarding and signing processes. These innovations not only reduce costs and customer drop-offs but also ensure compliance with KYC, AML, and eIDAS 2.0 regulations. The platform allows enterprises to consolidate identity verification, electronic signatures, and electronic delivery, providing a one-stop solution for local legal requirements and languages.
Enhanced Access for Citizens
Citizens experience improved access to essential services such as finance, healthcare, and education. The wallet-ready credentials provided by Evrotrust ensure that digital identities are recognized across borders while maintaining robust fraud protection measures.
CEO Konstantin Bezuhanov shared, "Our goal is to remove friction from everyday identity verification for users and enterprises in Germany, Austria, and the CEE region, making processes like opening a bank account or signing a contract feel effortless." This focus on user experience emphasizes Evrotrust's commitment to innovation.
The Future of E-Signatures
The EU aims for an ambitious target where 80% of the population adopts EUDI Wallets by 2030, indicating that these solutions will become mandatory in both public and private sectors. Furthermore, forecasts indicate a significant increase in e-signature spending, expected to rise from €2.33 billion in 2025 to €23.05 billion by 2032, illustrating the pressing need for effective digital identity solutions across Central and Eastern Europe (CEE) and the DACH region.
About Evrotrust
Evrotrust is a leading identity verification and qualified trust service provider that empowers businesses and government bodies to adapt and build sustainable digital ecosystems. Its comprehensive platform enables remote electronic identification and qualified digital signing, facilitating user registration and authentication via mobile devices.
About 3TS Capital Partners
3TS Capital Partners is a growth capital firm specializing in technology investments across Europe. With over €450 million raised from significant investors, such as the European Investment Fund and Cisco, 3TS combines robust financial resources, strategic insights, and extensive networks within Europe and the United States to stimulate company growth.
Frequently Asked Questions
What is Evrotrust's primary service?
Evrotrust primarily provides digital identity solutions and qualified trust services, including remote identity verification and electronic signatures.
How does the new funding affect Evrotrust?
The new funding will facilitate Evrotrust's expansion plans across Europe and enhance its digital compliance services.
What industries benefit from Evrotrust's services?
Industries such as finance, healthcare, and public service benefit significantly from Evrotrust's digital identity solutions.
What are EUDI Wallets?
EUDI Wallets are digital identity wallets mandated by the EU to ensure interoperable and reusable digital identification across member states by 2030.
Who is backing Evrotrust's expansion?
3TS Capital Partners is backing Evrotrust's expansion, emphasizing their belief in the company's growth potential and technology.
