Evrotrust’s eID scheme made Bulgaria’s official digital identity program, expands to Romania
In addition, as of this April, Evrotrust (also known as Eurotrust) has also been validated by the EU member states in the Cooperation Network of the European Commission.
Bulgaria’s eID, based on technology by the vendor, allows residents to provide digital identification for public services, such as for taxes, pensions, education or healthcare.
The decision of Bulgaria to implement a national ID scheme of this type follows the European Regulation (EU) 910/2014 (eIDAS).
This piece of legislation compels each member state in the European Union to create their own national scheme for electronic identification.
The good news for the vendor follows the firm attracting a pre-seed investment of 2.5 million Euros from the Bulgarian Development Bank in february 2022, in exchange for an equity stake.
At the time of the raise, the firm said it intended to move ahead with a planned series A investment round and a 30 percent increase in its workforce during 2030, and also announced plans for further expansion across Europe.
In 2022, Evrotrust was listed among the 50 fastest growing tech startups in Central Europe last year with a 958 percent growth rate.
In addition, the latest official recognition by the company means it will now be able to tap into the Romanian market, according to the announcement, which it calls “very important to its international expansion.”
The news comes as Romania is also implementing a national digital identity system.
The country recently launched ROeID, an application that will allow the use of a single set of credentials, enabling Roamnians’s to access state services for uses such as paying taxes.
According to Romania’s Minister of Research, Innovation and Digitization, Sebastian Burduja, the project was financed by 20 million of funding (almost $22 million) from the EU.