Evrotrust Secures €6.6 Million Financing to Expand in the DACH Region

Evrotrust, a prominent provider of qualified trust services and digital identity solutions in Europe, has announced a significant funding round of €6.6 million from 3TS Capital Partners. This investment aims to accelerate Evrotrust’s expansion efforts in the DACH region, which includes Germany, Austria, and Switzerland. The funding will enable Evrotrust to offer compliant solutions that assist both businesses and individuals in meeting the requirements of the eIDAS 2.0 framework.

Significance of the Funding

The recent investment serves as a crucial step for Evrotrust as it seeks to enhance its market presence amidst Europe’s regulatory harmonization efforts. With this financial backing, the company aims to scale its solutions for digital identities, electronic signatures, and onboarding processes. Konstantin Bezuhanov, the CEO of Evrotrust, emphasized the need for seamless identity verification, particularly in the context of evolving digital infrastructures across Europe.

Expanding Services in the DACH Region

Evrotrust’s comprehensive suite of reusable solutions adheres to the EU’s eIDAS regulation, which includes online identity verification (KYC/KYB), qualified electronic signatures (QES), and qualified electronic delivery services. The organization is meticulously designed to cater to the needs of over 2 million users across 61 countries while servicing more than 200 companies in 11 nations. The updated EU framework for digital identities, eIDAS 2.0, which became effective on May 20, 2024, establishes interoperable and reusable digital EU identity wallets along with harmonized trust services.

In markets like Germany and Austria, Evrotrust’s services facilitate automated onboarding and signing processes. These advancements not only help reduce costs and abandonment rates but also ensure compliance with regulations surrounding KYC, AML, and eIDAS 2.0. By utilizing a single, auditable platform, businesses can conduct identity checks, electronic signatures, and deliveries efficiently while supporting local languages and data regulations.

Benefits for Citizens

This funding will ultimately empower citizens by simplifying access to essential services in finance, healthcare, education, and public administration. The digital credentials stored in wallets will receive cross-border recognition and protection against fraud, aligning with broader EU objectives.

Bezuhanov articulated the firm’s commitment to enhancing daily identity verification experiences for users and organizations throughout Germany, Austria, and the CEE region. His vision encompasses streamlined processes for activities like opening bank accounts or signing contracts, all aimed at increasing user satisfaction and operational efficiency.

Future Aspirations

By 2030, the EU aims for an 80% adoption rate of digital EU identity wallets, establishing them as mandatory for both public and private use. The growth prospects are substantial, with projections indicating that the issuance of electronic signatures is set to increase tenfold, soaring from 2.33 billion euros in 2025 to an anticipated 23.05 billion euros by 2032. These figures highlight the significant growth opportunities that Evrotrust plans to capitalize on in the DACH and CEE regions.

About Evrotrust and 3TS Capital Partners

Evrotrust stands at the forefront of identity verification and qualified trust services, assisting companies and governmental bodies in their digital transformation endeavors and the construction of sustainable digital channels. Its integrated platform allows for remote electronic identification and qualified digital signatures, empowering users to register and authenticate services via their smartphones. For more information about Evrotrust, visit evrotrust.com.

3TS Capital Partners, the financial entity behind the investment, specializes in growth financing focused on technology and service industries across Europe. With a portfolio exceeding €450 million, they are supported by notable investors and aim to propel innovative companies toward success.