The company specializing in biometrics has published today the annual accounts confirming a 66% growth in turnover and 49.5% in EBITDA
FacePhi closed the financial year of 2018 with historical records in its financial results. The Spanish company, specialized in the biometrics industry, has presented today its annual accounts, confirming the positive development that was already visible in the results preview, which was issued in January this year. The fintech company has experienced a revenue increase of 66% compared to the previous year, which has allowed it to reach 4.48 million euros.
Positive economic data does not stop here. The Spanish company, world leader in facial biometrics for financial institutions, has managed to increase its EBITDA by 49.5%. The financial markets confidence in the business project and the rise in sales have allow the organization to achieve an EBITDA of 1,279,804 euros in 2018, compared to the 855,929 euros of 2017.
Regarding the results, Javier Mira, CEO of FacePhi, has stressed that “these figures show the positive path taken by the company we are confident that it will be strengthened in 2019 with the achievement of new contracts.” “So far this year, we have managed to close agreements with HSBC Uruguay and Supervielle, and we have announced our collaboration as technology partners in a pioneering project with CaixaBank to introduce facial biometrics recognition in ATMs.”
The continuity of the international expansion strategic plan developed by FacePhi during this last year has meant the consolidation of the best economic results experienced by the company since it was established in 2012. Thus, to date, the client portfolio has continued to rise to over thirty entities through new contracts with financial institutions such as Garantizar, Banco Visión de Paraguay and Banco Macro, as well as the integration with the banking platform Bantotal.
FacePhi’s development has also been driven by the launch of a new product, which is unique in the whole biometrics industry worldwide. The firm introduced inPhinite at the Money 2020 conference, held last October in Las Vegas. It is a disruptive product combining six facial, periocular, voice or digital onboarding recognition tools, among others, to authenticate the user, which makes it a ‘zero risk’ security system and also improves the customer experience.