FacePhi, a leading technology company in user digital identity verification, has released its consolidated audited annual accounts for the 2021 financial year. This report confirms that last year the company obtained the highest turnover in its history, 13.16 million euros, as announced in the preview of annual results presented in February at the Palacio de la Bolsa in Madrid.
In 2021, the company raised its turnover by more than 81% compared to 2020, thanks to the increase in new contracts and the renewals and extensions of existing deals.
Thanks to its firm commitment to the growth of its structure and international commercial expansion, the company obtained an adjusted EBITDA of 1.88 million euros, without taking into account the extraordinary cost incurred as a result of the compensation agreed for the voluntary dismissal of one of the company´s Managing Directors.
The revolution accompanying companies in their digital transformation
Since 2012, FacePhi has been developing state-of-the-art technology that allows users’ identity to be securely verified, thanks to its digital onboarding and authentication solutions. In October 2021, the transformation of its business model began with the launch of the most complete Digital Identity Verification platform on the market: FacePhi Identity Platform.
This innovative solution, which will revolutionise the digital identity market, makes FacePhi’s technology the most accessible for companies immersed in a digital transformation process, regardless of their size or the type of industry to which they belong. This advance in its business model will allow the company to reach more customers faster, boosting its growth and expansion over the coming years.
FacePhi’s unstoppable business growth is due, in large part, to the push it made in 2021 to strengthen its structure. Last year the company increased its workforce by 207% compared to 2020, reaching the figure of more than 175 employees, of which almost 70% have technical profiles.
This investment allowed the formation of a multidisciplinary team capable of continuing to develop the best digital identity verification technology, strengthening the commercial team and fostering their alliances with partners, thus promoting the expansion of the company’s technology globally.
Since its inception, FacePhi has worked tirelessly on the development of its technology, and since 2014 it has been the leading provider of identity verification technology in Latin America among companies in the financial industry, one of the most regulated and demanding in terms of security. This is an industry in which it continues to take important steps, being chosen in 2021 by Banco Santander as one of its main suppliers.
The company’s desire to develop the best and most adaptable technology has led it to demonstrate that any company in the world can use its products, verifying user identity with the highest level of security. This has allowed FacePhi to obtain more than 120 clients and to conquer new international markets, entering Chile, Vietnam and Nigeria for the first time.
In addition, in 2021 the company has made the leap to other industries, such as travel and transport, sporting events and Public Administrations, establishing important projects with companies such as Aena, Latam Airlines, Valencia C.F and the Nigerian government. In this way, FacePhi demonstrates that its solutions can be applied within any company in any industry, highlighting its great growth potential.
All this has come in a yea