#None #eIDAS 2.0 #Evrotrust #3TS Capital

Evrotrust Expands with Major Investment

Evrotrust, a leading European provider of qualified trust services (QTSP) and identity solutions, has successfully secured a substantial investment of €6.6 million from 3TS Capital Partners. This funding marks a significant milestone for Evrotrust, enabling the company to accelerate its growth across Europe, particularly within the DACH (Germany, Austria, and Switzerland) and CEE (Central and Eastern European) regions.

The Importance of Digital Identity

As the digital landscape evolves, the need for efficient, secure, and reliable digital identity solutions becomes increasingly critical. Evrotrust provides a comprehensive suite of reusable digital identity services, compliant with the EU's eIDAS regulation. This includes remote identity verification (KYC/KYB), qualified electronic signatures (QES), electronic timestamps, and qualified electronic delivery services. Their established eID system, recognized by the EU, integrates high assurance levels and has already been adopted by over 2 million users from 61 nationalities across more than 200 companies in 11 countries.

Investment Goals

The investment from 3TS Capital Partners represents a shared vision to support Evrotrust's mission of enhancing digital identity solutions in alignment with the updated European Digital Identity framework, eIDAS 2.0, which took effect on May 20, 2024. This regulation mandates interoperable and reusable EU digital identity wallets along with standardized trust services, potentially revolutionizing how digital identities are managed in Europe.

Pekka Mäki, Managing Partner at 3TS, expressed enthusiasm about the partnership, stating, “Digital identity is becoming the cornerstone of Europe’s digital infrastructure. The technology and dynamics of Evrotrust position it as a regional leader, and we are excited to support its next phase of expansion.”

Streamlining Processes for Businesses and Citizens

In Germany and Austria, Evrotrust aims to automate compliant onboarding and signing processes to reduce costs and abandonment rates, while simultaneously satisfying KYC, AML, and eIDAS 2.0 requirements. Businesses can leverage a unified platform for identity verification, electronic signatures, and qualified electronic delivery that adheres to local languages and data regulations. This holistic approach allows citizens to access services such as finance, healthcare, education, and public services seamlessly, utilizing digital proof compatible with electronic wallets, ensuring cross-border recognition and enhanced fraud protection.

Konstantin Bezuhanov, CEO of Evrotrust, shared his vision: “Our goal is to eliminate the friction associated with daily identity verification for users and businesses in Germany, Austria, and the Central and Eastern Europe region, making processes like opening a bank account or signing a contract effortless.”

Future Outlook

The European Digital Decade initiative targets a goal of 80% adoption of EU digital identity wallets by 2030, making them essential for both public and private uses. Anticipated expenditure on electronic signatures is projected to grow tenfold, from €2.33 billion in 2025 to €23.05 billion by 2032, highlighting the monumental opportunity Evrotrust is poised to address across CEE and DACH regions.

About Evrotrust

Evrotrust stands as a premier provider of identity verification and qualified trust services that assist businesses and governments in their digital transformation journeys, establishing sustainable digital channels. Their end-to-end platform enables remote electronic identification and qualified digital signing, allowing users to register and authenticate for any service using their smartphones.

To learn more about Evrotrust and their services, visit www.evrotrust.com.

About 3TS Capital Partners

3TS Capital Partners specializes in technology-focused venture capital investments across Europe, engaging in sectors such as technology, media, and tech-based services. With over €450 million raised from investors including the European Investment Fund (EIF), Tesi, Cisco, the EBRD, and Erste, 3TS combines significant financial support with strategic guidance and access to extensive networks in both European and American markets to drive business growth.