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ID verification platform Evrotrust secures €3.3m in new funding

By Gloria Methri

February 06, 2024

  • AML
  • Bulgaria
  • Digital ID Veritfication
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Evrotrust, ID verification, Silverline Capital, FinTech, Bulgaria, EuropeEvrotrust, the European digital transformation provider, has received an investment of €3.3 million from existing clients and private equity fund Silverline Capital. This is just a few months after Evrotrust got recognized as a notified eID scheme by the European Commission.

The funding reinforces the company’s position in the European digital identity market.

Evrotrust’s services are utilized by over 1.3 million users from 58 countries, and 150 enterprises from 11 countries, among which are 15 of Europe’s leading banking institutions. The funds will be allocated to bolster Evrotrust’s international expansion and foster the development of a novel product— a digital identity wallet for citizens across the world.

This wallet will store personal documents such as identity cards, educational diplomas, and driving licenses, ensuring the utmost security and privacy for users, while promoting interoperability with various EU and US digital infrastructures.

Konstantin Bezuhanov, CEO of Evrotrust, shared, “The investment is a vote of confidence from those who have used and experienced the value of the platform. It will also forward our international development plans and help us penetrate new markets. Evrotrust solves a problem larger than the tech sector, as we redefine digital and offline identity use, aligning them with the dynamic needs of the modern economy.”

The support from Silverline will enable accelerated growth for the company. It comes at a time when the digital identity landscape is about to change drastically, especially with the upcoming eIDAS 2.0 regulation, which is a major opportunity for businesses. Evrotrust is also going to increase its team, hiring top-tier executives across Europe to support its innovation goals.

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