How He Built a €1.1B Giant

In this interview, Enrico Giacomelli, Founder and Chairman of Namirial, reflects on building one of Europe’s leading Digital Transaction Management and Qualified Trust Service Provider (QTSP) groups - from a small Italian software house founded in 1991 to a pan-European digital trust leader valued at approximately €1.1 billion. Founded in 2000 in Senigallia, Namirial now operates in 90+ countries, employs over 1,300 people, and serves enterprises, SMEs and public administrations across Europe, Latin America and Asia. In 2020, Ambienta acquired a majority stake, accelerating international expansion. In July 2025, Bain Capital acquired a majority stake. Later that year, Namirial merged with Signaturit (backed by PSG Equity), creating a leading pan-European QTSP with strong positions in Italy, Spain, France and Germany. We discuss regulation as both constraint and catalyst, what “AI-first” means in a highly regulated environment, scaling through M&A, and the future of European digital identity. Key Points: - How Enrico identified the original problem in 1991 - and why it still matters - Building a global tech leader from outside Europe’s main startup hubs - Regulation as both constraint and competitive advantage - What “AI-first” means in a trust-heavy, compliance-driven sector - Practical advice for founders making their first steps - Avoiding the AI hype cycle while building long-term value