To accommodate for specific, often complex requirements of circular economy synergies, a need for innovative approaches and designs of digital tools arises. Marketplaces are digital platforms facilitating identification of possible collaborations between users, that are conventionally operating based on supply and demand. The complexity of circular economy collaborations requires new approaches. To address this gap, matchmaking frameworks for Circular Economy (CE) and Industrial Symbiosis (IS) were proposed previously. Matchmaking frameworks are based on multi-level approach to facilitate collaboration reaching beyond traditional interactions grounded on offer and demand solely. The frameworks are meant to be deployed within marketplaces to offer more tailored matchmaking to CE stakeholders. In case of the IS framework, a need for more elaborate matching for water sector, and especially for water-waste-energy nexus has been identified as part of Accelwater project activities. Therefore, in this paper, the concept has been further expanded with special focus to management of reclaimed water and sludge in the context of IS exchanges. The presented framework constitutes the conceptual work performed as a fundamental step for the development of a dedicated marketplace component within water domain in the scope of the Accelwater project and its IS platform. The multi-level approach of the proposed concept consists of following aspects: (1) IS readiness level with focus on water-waste-energy nexus, (2) fit for purpose-based management of reclaimed water and sludge, (3) environmental aspects related to the greenhouse gas (GHG) emissions and energy consumption, and (4) the social perspective. This research was financially supported by the European Union’s Horizon 2020 research and innovation program under grant agreement No 958266 (project AccelWater)