The tech company registers a 69% increase in revenue
The company finishes the year with a positive EBITDA of €4.31M
Facephi closes 2022 with historic economic results. The results preview of the leading company in technology for the verification of users’ digital identity indicates that in 2022 it obtained a turnover of €22.20M, the best result in its history, which represents a 69% growth compared with 2021.
In addition, the tech company obtained a positive EBITDA of €4.31M, which confirms the upward trend in its profit and loss account in recent periods.
The positive economic results come from the strategy that the company is carrying out, focused on the commercial expansion at an international level, with an innovative product in a very competitive market, the Facephi Identity Platform, representing a 55.98% of the total sales. To do this, in 2022 Facephi continued to strive for structural growth, opening two new subsidiary offices, one in LATAM with headquarters in Montevideo, and another one in EMEA, with headquarters in London and its own team in strategic areas of the region.
According to Javier Mira, CEO and President of Facephi, “the figures obtained in 2022 endorse our business strategy, focused on offering a more flexible product that can be adapted to the needs of the constantly evolving global market in which we operate”.
Diversification and more customers
The effort that the company is making to promote its international commercial expansion has been reflected in a significant increase in the number of new clients, registered as of today at more than 250, one hundred more than those registered in 2021. This results position Facephi as a leading identity verification company in the financial sector, as it provides services to more than 200 banks in more than 25 countries, keeping a high retention rate of 95%.
The strengthening of Facephi’s business model has contributed to this, with the worldwide commercialisation of its Facephi Identity Platform, which through à la carte biometric solutions, it is making any type of company use its technology regardless of its size or sector, thus accelerating its digital transformation.
In this way, in 2022 Facephi has continued to enter different sectors, such as shared mobility, and new regions, such as Nicaragua and the Dominican Republic.
More talent for new challenges
Another factor in Facephi’s unstoppable sustained growth is, to a large extent, its boost to reinforce its structure. Last year the company increased its workforce by 30%, turning into more than 220 employees, almost a 70% of whom are technical profiles.
This investment allows Facephi to have a team capable of continuing to innovate in the best digital identity verification technology, strengthening its sales team, having the best professionals to meet the demands and needs of the growing number of customers and fostering its alliances with partners.
As Javier Mira states: “We have the right business structure to address the challenges that the market presents in the short term, with the objective set on cryptocurrencies and gambling.”