Evrotrust digital ID and e-signature customer takes stake for €2.5M
Evrotrust has raised 2.5 million euros (roughly US$2.7 million) in funding from a customer ahead of a planned series A investment round and 30 percent increase in its workforce later this year.
Bulgarian Development Bank’s Capital Investment Fund is taking a stake in the company, having used Evrotrust’s digital identity and e-signature solution to help serve its small and medium-sized enterprise clients.
Evrotrust (sometimes referred to as Eurotrust) was listed among the 50 fastest growing tech startups in Central Europe last year with a 958 percent growth rate.
The company says that having consolidated its market in Bulgaria, where it is based, it will now expand into European markets with high growth potential.
The Evrotrust platform is used by government institutions, international banking groups, insurance companies, telecoms, and pension operators to remotely identify and onboard customers. The company also operates a digital identity service in collaboration with Mastercard.
“Closing the capital round with the BBR Capital Investment Fund is further proof of the level of service and satisfaction of our clients, who see first-hand that Eurotrust is unlocking digital growth,” said Konstantin Bezukhanov, CEO of Evrotrust, as translated by Google.