Yoti says £20M in debt funding will carry it to profitability

Yoti has raised 20 million pounds (US$25.4 million) in debt funding, which it says will see it through to profitability for its face biometrics, liveness detection, age assurance and digital identity technologies.

The new funding takes the form of £12.5 million ($15.9 million) in financing from HSBC and a further £7.5 million ($9.5 million) in convertible debt funding from existing shareholders, the company says in an announcement.

Yoti’s revenues have surged from £101,168 in the year ending March, 2020 to …

age age assurance assurance biometrics biometrics news debt detection digital digital-identity face biometrics funding hsbc identity investment liveness detection technologies trade notes yoti