- Yoti, the digital identity company, secures £12.5 million in debt funding from HSBC and an additional £7.5 million in convertible debt funding from existing shareholders.
- The total £20 million funding will support Yoti’s growth, aiming for profitability and beyond.
- Yoti has received over £166 million in funding to date, enabling the development of proprietary technologies for identity verification, age assurance, and authentication.
- Yoti, a UK-based company, has experienced significant growth with revenues soaring 6,074% over the past four years.
- Yoti completes over 6.5 million age and identity checks monthly, serving various sectors globally, including finance, gaming, government, and more.
- Notable clients of Yoti include Meta, OnlyFans, Sony Playstation, Aldi, and government entities like The Government of Jersey.
- Yoti launched a new Digital ID app with Lloyds Bank and created Digital ID Connect, the UK’s largest digital identity network.
- In 2023, close to one million individuals in the UK downloaded one of the three Digital ID apps, showcasing Yoti’s rapid adoption without consumer marketing spend.
- Yoti’s CEO, Robin Tombs, expresses delight in the funding, stating it will support the company’s rapid growth.
- John Browett, Chair at Yoti, emphasizes the importance of this funding in steering Yoti towards profitability and acknowledges the company’s world-leading technology.
Digital ID firm Yoti scores £12.5m debt funding from HSBC
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