Bulgarian identity-as-a-service provider Evrotrust gets €2.5M pre-seed investment

The Sofia-based provider of digital identity and trust services that helps regulated businesses and government institutions to digitize their services Evrotrust announced the raising of €2.5 million from the Bulgarian Development Bank Group through its Capital Investment Fund. The investment will be spent for the product development and international growth.

• Founded in 2016 by George Dimitrov and Konstantin Bezuhanov, Evrotrust offers a technology solution for remote identity verification and secure qualified electronic signatures. The platform enables organizations to remotely identify, onboard, and provide services to their customers.
• For all its services, Evrotrust has received Europe-wide certifications. Currently, the company works with over 515,000 end users and throughout the lifecycle of the company, there are more than 800,000 people who have engaged with the services of Evrotrust.
• Bulgarian Development Bank (BDB) is a leading Bulgarian development and commercial bank with headquarters in Sofia. BDB offers various financial products to small and medium size enterprises, is also a client of Evrotrust’s solution, and has first-hand experience with the benefits of working with the platform.
• BDB took an equity stake in Evrotrust Technologies and led the €2.5 million financing. Evrotrust will spend the fresh funding on expanding its geographical presence across Europe and to increase its team by 30%.