Facephi breaks records to close 2021 with business growth of over 81%

  • Its technology revolutionises the sector with the launch of the most complete digital identity platform on the market
  • FacePhi moves from startup to scaleup through its commitment to structure and international commercial expansion

FacePhi, the global leader in technology for identity verification, obtained the highest turnover in its history in 2021. The figure of 13.17 million euros was officially announced in its preview of annual results, presented at the Madrid Stock Exchange.

The company, which is listed under the dual listing formula in Euronext Growth in Paris and in BME Growth, increased its turnover by more than 81% compared to 2020, thanks to new clients, new industries and new markets into which it has expanded.

The technology company also improved its production efficiency in 2021, with an increase of 5.5 percentage points to the gross margin. Due to a strong commitment to growth in structure and commercial expansion, there was a slight decrease in the company’s EBITDA, although the result remained a positive 860,445 euros.

Company 2020/2021 balance sheet

Innovation that evolves and revolutionises the digital identity sector

Since 2012, the year in which FacePhi began its activity in the biometrics market, it has become a pioneer in cutting edge technological development, ranging from offering digital onboarding and authentication solutions, to presenting, at the end of 2021, the most complete Digital Identity verification platform on the market: FacePhi Identity Platform. A customisable and accessible tool for companies of any industry or size, it allows a reduction of implementation times for its technology.

Support for the evolution of FacePhi solutions was endorsed by obtaining important certifications (ISO 30107-3 Level 1, ISO 27001 and KISA-NBTC) that demonstrate a commitment to industry quality standards and recognition of the development of reliable products; This fact is reflected in the high retention rate of its clients, which has reached +95%.

Structural growth that strengthens business talent

To maintain the high level of growth, FacePhi continued to strengthen its business structure, in which 70% are technical specialists, growing by 207% between 2020 and 2021. In addition, last year FacePhi was recognised as a “Strategic Company” by of Spain’s Ministry of Industry, Commerce and Tourism, which will allow it to be reinforced with new Highly Qualified Professionals (PAC) from any corner of the world.

In constant search of opportunities

FacePhi’s first steps in the Latin American financial industry, one of the most regulated and demanding in terms of security, allowed it to become a leader in this sector; an industry in which it continues to take important steps, having been chosen by Banco Santander as one of its main providers.

At the same time, the applicability of its solutions to any company has resulted in its expansion into new industries and markets, such as travel and transport, sealing contracts with the main airline group in Latin America and with Aena, considered the leading airport operator in the world. Similarly, FacePhi entered the sporting events industry, with a project for the Spanish football club Valencia CF, and public administrations, together with Afrilight Technologies, which also represented its introduction into Nigeria.

This great commercial and structural optimisation push carried out by FacePhi was also materialised with the integration of its technology in Vietnam and with arrival in a new Latin American country, Chile.

The company took its first step in smart cities together with CityLabs, through a decentralised digital identity project for the largest island in South Korea, Jeju.

Likewise, as part of the search for new business opportunities, its commitment to a new marketing model where partners are increasingly important is notable. Through the alliances established with ITSS, Revelock, Anonybit and GBM, FacePhi is expanding its technology in new countries and industries.

From startup to scaleup

For FacePhi, 2021 was a successful year in which investments made in structure and expansion have enabled it to make the leap from startup to scaleup. This result is solid proof of a successful business model that is experiencing unstoppable growth.

In the words of Javier Mira, president and CEO of FacePhi: “2021 was undoubtedly the best year in our entire history; a year in which we have surpassed ourselves at all levels, reaching milestones in expanding into new regions and industries and new use cases, and in which we have obtained our best turnover to date.”