back Back

Digital ID firm Yoti secures £12.5m debt funding from HSBC

By Gloria Methri

December 26, 2023

  • Debt Funding
  • Digital Identification
  • Digital Identity Solutions

Yoti, HSBC, Debt Funding, Lloyds Bank Smart ID, FinTech, UKDigital identity firm Yoti has received £12.5 million in debt funding from HSBC, and a further £7.5 million in convertible debt funding from existing shareholders. The £20 million funding will support the company’s continued growth to achieve profitability and beyond.

The latest funding round follows the £10 million invested in Yoti by Lloyds Banking Group earlier this year. The company’s total funding to date now exceeds £166 million; the majority provided by its founders and angel investors since it was founded in 2014.

This funding has enabled Yoti to develop proprietary technologies covering identity verification, age assurance, authentication and eSignatures, including in-house facial age estimation, liveness, and facial recognition AI. The company, founded and headquartered in the UK, offers a range of digital identity solutions that make it safer for people to prove who they are.

Robin Tombs, CEO at Yoti said, “I am delighted to announce this funding round, including £12.5 million from HSBC, which follows another exciting and fast-paced year for Yoti. We are growing quickly and this £20 million funding should comfortably see us through to profitability.”

John Browett, Chair at Yoti added, “It is good to see this last piece of funding in place to see Yoti through to profit. It has world-leading technology that makes great improvements to trust, security and safety in the digital world. It has been fabulous to work with the company as we have gone from start-up to significant and increasing revenues.”

This year, Yoti also launched a new Digital ID app with Lloyds Bank and created Digital ID Connect – the UK’s largest digital identity network provided by the company, along with Post Office and Lloyds Bank. Over four million people in the UK have downloaded one of the Digital ID apps (Yoti ID, Post Office EasyID and Lloyds Bank Smart ID), and the company itself has over 13 million app installs globally.

Previous Article

December 26, 2023

Bidvest Bank & Mastercard to offer international remittance service for South Africans

Read More
Next Article

December 26, 2023

Affirm expands to self-checkout at over 4,500 Walmart stores

Read More

IBSi Daily News Analysis


February 23, 2024

Debt Funding

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 23, 2024

FinTech Focus: Catch latest developments of the week

Read More

February 23, 2024

Prove Identity & TargetData join forces to drive expansion in Brazil

Read More

February 23, 2024

UNIPaaS unveils AI payment assistant solution for SaaS platforms

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023