Lissi Raises €3.5M to Scale EUDI Wallet Connectors Across Europe

Lissi GmbH, the Frankfurt-based provider of EU Digital Identity Wallet (EUDI) connectivity software, has closed a €3.5 million funding round to scale its work with banks, insurers and payment service providers across Europe. The round was announced on 9 July 2026 in Lissi’s funding announcement published on tech.eu.

The raise was led by Paris-based venture capital firm Ventech, with participation from BM H Beteiligungs-Managementgesellschaft Hessen, the existing investor main incubator (Commerzbank Group), and existing investor Ninepointfive Ventures. Lissi’s stated use of the proceeds is to accelerate the development of its EUDI Wallet Connector Suite and to support financial institutions preparing for the EU’s Anti-Money Laundering Regulation (AMLR) applying in July 2027.

Who’s Behind the Round

The investor map is split between two new participants and two existing backers. Ventech, the lead, is a Paris-based pan-European early-stage firm that closed its sixth flagship fund at €175 million in September 2025, with “Sovereignty” named as one of its five investment theses. BM H Beteiligungs-Managementgesellschaft Hessen, a German investment and venture-capital vehicle founded in 2001, joins the cap table for the first time.

On the existing-investor side, main incubator (Commerzbank Group), the parent of neosfer (Commerzbank’s innovation unit) where Lissi was incubated, and Belgian fund Ninepointfive Ventures both re-upped. Lissi emerged as an independent company in late 2023, when law firm DLA Piper advised neosfer on the spin-off. The backing spans Germany, France and Belgium, and Lissi’s materials describe the company as a pan-European technology provider.

The Product Banks and Insurers Are Buying

Lissi’s flagship product is its EUDI Wallet Connector Suite, a software layer that allows organisations to integrate EUDI Wallets and verifiable credentials into their existing digital services. The connector is built to enable interoperability between public and private EUDI Wallets across the European Union, supporting implementations in both the public and private sectors.

Around 90 per cent of Lissi’s customer base is in the financial sector: banks, insurance companies, payment service providers and trust service providers. Named customers in the announcement include itsme, the Belgian mobile identity scheme now operating across 30 European countries, and Commerzbank, the German lender whose innovation arm incubated the company.

Lissi was founded in 2019 inside neosfer, the innovation unit of Commerzbank AG, and has been working on identity wallets and verifiable credentials since 2018. The company is based in Frankfurt am Main. Its first independent year, 2023, brought both the formal spin-off from Commerzbank Group and a win at the European Identity and Cloud conference in the “Decentralized ID in practice” category alongside DATEV.

Financial institutions need solutions that integrate seamlessly into existing IT environments while allowing them to retain full control over customer data. Our platform has been built to meet these requirements: it is eIDAS-compliant, flexible to deploy and aligned with the security and compliance standards of the financial sector. The trust placed in us by leading banks and financial service providers demonstrates the market demand for this approach.

The quote is from Helge Michael, CEO and Co-Founder of Lissi, speaking in the company’s announcement. The framing puts the platform’s value for banks as integration into existing IT estates rather than replacement of them, a positioning consistent with what Lissi’s company background and product positioning describes as the firm’s original brief.

• Founded: 2019
• Customer mix: around 90 per cent from the financial sector
• Named customers: itsme and Commerzbank
• Capital raised in this round: €3.5 million

Two Regulatory Deadlines Are Squeezing the Stack

The funding pitch leans on two dates. The first is end of 2026, when Member States must provide EU Digital Identity Wallets to citizens under the framework laid out in the European Commission’s framework for EU Digital Identity Wallets. The second is July 2027, when the EU Anti-Money Laundering Regulation (AMLR) starts to apply across the union.

Both dates pull demand forward in the same direction: financial institutions must accept wallet-based identity flows from customers they have to verify under anti-money-laundering rules. The two deadlines are not coordinated, but they land close enough that banks are running parallel integration projects.

• eIDAS 2.0 framework: in force under Regulation (EU) 2024/1183
• End of 2026: Member States must provide EUDI Wallets to citizens
• July 2027: AMLR applies directly across the EU

Lissi’s announced use of proceeds ties directly to that window: further development of its platform and product portfolio, helping financial institutions address evolving regulatory requirements, and enabling new Open Finance use cases through identity wallets.

Why Ventech Frames This as Sovereignty

Ventech is not selling the round on growth alone. The firm named Sovereignty alongside Vertical AI, Digital Health, Industrial Software and Cyber Security as one of the five investment theses for Fund VI in its €175M sixth fund and its five stated investment theses.

For Ventech, “sovereignty” in the European tech context means infrastructure that does not depend on US or Chinese platform providers. Lissi’s positioning matches the framing: investors from Germany, France and Belgium, customers headquartered in Frankfurt and Brussels, and a product that connects to public-sector wallets without routing identity data through a single global intermediary.

Where Lissi Sits in a Crowded EUDI Field

itsme is both a Lissi customer and, increasingly, a competitor. Belgium’s mobile identity scheme now offers its own EUDI Wallet Intermediary service, a managed integration layer that sits between relying parties and accredited wallets, with end-to-end integration support and 24/7 service. itsme describes itself as “a full-service identity partner, not just a technical broker,” in language that overlaps directly with Lissi’s value proposition.

The wider corporate-wallet funding picture is also heating up. Spain’s Sybol closed a €1M raise to build a corporate digital identity wallet (Sybol’s €1M raise for a corporate digital ID wallet), and several EU-wide pilots are running ahead of the end-of-2026 wallet rollout deadline. Lissi, for its part, is pitching Open Finance as the first big payoff beyond compliance, with identity wallets used to authenticate new account openings and consent-driven data sharing.

The €3.5M round is sized for product work rather than geographic expansion. Lissi’s stated next step is to push the connector deeper into bank core systems before the July 2027 AMLR date lands.