Bulgarian RegTech Evrotrust bags €2.5m in funding


Evrotrust Technologies, a Bulgarian RegTech identity verification and qualified trust services provider, has raised €2.5m in funding.

The Capital Investment Fund – which is part of the Bulgarian Development Bank Group – invested in the firm.

Founded in 2015, Evrotrust claims it offers unique and revolutionary technology for identification, strong authentication and signing. The technology is specifically developed with many of the current regulatory changes in mind, that take place within the services industry.

The key focus of the solution is to offer much higher legal and security protection for the enterprise during interactions with their clients, while providing the clients with easy-to-use and fast tools to make their experience as seamless as possible.

The solution is a fully compliant solution with eIDAS Regulation 910/2014, PSD2, KYC requirements, GDPR, AML and many more. For all its services Evrotrust has received Europe-wide certifications.

According to FinSME, It is integrated by numerous government institutions, international banking groups and non-bank financial institutions like insurance companies, pension companies, and telecoms.

Scrut Automation, a governance, risk and compliance automation platform, has netted $7.5m in a new round of funding.

Founded in 2021, Scrut Automation provides an information security monitoring platform, aimed at helping small and medium cloud-native enterprises develop and maintain a robust security posture, and comply with various infosec standards such as SOC 2, ISO 27001, GDPR, and the like with ease.

The platform plans to use the fresh capital to simplify risk management and infosec compliance for cloud-native SaaS, FinTech, and HealthTech companies – automating 70% of manual tasks and reducing tool fatigue from managing disparate point tools for security.

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