back Back

ID verification platform Evrotrust secures €3.3m in new funding

By Gloria Methri

February 06, 2024

  • AML
  • Bulgaria
  • Digital ID Veritfication

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.

Previous Article

February 06, 2024

AUB eWallet HelloMoney launches in South Korea, Malaysia, HK

Read More
Next Article

February 06, 2024

Puerto Rico’s Segura Bank goes live with Temenos core banking in the cloud

Read More

IBSi Daily News Analysis

South East Asia

February 28, 2024


FinTech penetration in Southeast Asia will double by 2027, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 28, 2024

Owlin launches AI-based Due Diligence solution for banks

Read More

February 28, 2024

Israel’s AU10TIX unveils KYB solution to enhance verification

Read More

February 27, 2024

Flagright & SALT to fuel financial security for SMEs in India & Asia

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023