Spain’s Digital Transformation Ministry backs Sybol with €500k

A Spanish digital transformation agency is helping to fund digital identity development and verifiable credentials.

The Spanish Society for Technological Transformation (SETT), an agency under the Ministry for Digital Transformation and Public Administration, has invested €500,000 (US$573,000) in Sybolid Identity (Sybol).

The Madrid‑based startup develops secure digital identity technology for corporate environments. Sybol builds digital identity models based on international standards for exchanging verifiable credentials.

Its platform enables companies to issue, request and verify digital credentials across critical inter‑company processes. These replace slower manual document checks that can be error‑prone and vulnerable to fraud. The company targets sectors where identity assurance and compliance are central to operations such as energy, industry, construction, logistics and telecommunications.

Sybol’s technology supports workflows such as onboarding suppliers, employees and clients, helping organizations meet internal requirements as well as official regulations. By using verifiable credentials, sensitive information can be shared and reused securely and in a standardized format.

Sybol’s platform is modular and designed to integrate with existing corporate systems, allowing organizations to configure their own workflows or adopt predefined ones. The solution is already in use within multinational energy companies, according to a SETT release.

The investment forms part of a broader public‑private initiative led by SETT, bringing total project funding to more than €1 million with the participation of additional private investors. The Spanish ministry for digital transformation has previously invested in a chips and cybersecurity center, with digital identity firms involved.

The initiative aligns with the Spanish government’s strategy to accelerate digitalization across the business ecosystem and promote the adoption of advanced technologies developed with domestic talent. SETT is financing the operation through its Next Tech facility, supported by the Recovery, Transformation and Resilience Plan (Next Generation EU funds).

Article Topics

digital company ID  |  digital ID  |  investment  |  public-private partnerships  |  Spain  |  Sybolid Identity  |  verifiable credentials