FB pixel

FacePhi reports strong business growth in 2021 from expansion into new markets and industries

FacePhi reports strong business growth in 2021 from expansion into new markets and industries

Spanish biometric start-up FacePhi announced record growth in 2021, which it attributes to its expansion into new industries and markets.

FacePhi says it increased net revenue by 81 percent in 2021 compared to 2020, which translates into €13.2 million (US$15 million). The results were announced at a preview of annual results presented at the Madrid Stock Exchange. The company adds that it improved its production efficiency in 2021 by 5.5 percentage points to the gross margin. Though its EBITDA saw a slight decrease due to expansion and structural growth, FacePhi says it remains at a positive €860,445 (US$982,727).

FacePhi highlighted its recent achievements and expansions in the biometrics industry that propelled its growth, such as receiving biometric algorithm certifications from a South Korean agency and sponsorship with Valencia CF, taking steps into the Latin American financial sector with a business partnership with Banco Santander, and deploying facial biometrics as part of a South Korean smart city project.

FacePhi has expanded into the travel and transport industries in Latin America via a contract with Aena, and gained an introduction into Nigeria with Afrilight Technologies, and integration into Vietnam and Chile as areas of development.

The company’s recent financial report follows its rapid growth, which was previewed in a November 2021 release of its first half of 2021 financial results.

Javier Mira, FacePhi’s CEO and president, comments, “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.”

The company also says it seeks to graduate from start-up to scale-up.

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News


Challenges in face biometrics addressed with new tech and research amid high stakes

Big biometrics contracts and deals were the theme of several of the stories on that drew the most interest from…


Online age verification debates continue in Canada, EU, India

Introducing age verification to protect children online remains a hot topic across the globe: Canada is debating the Online Harms…


Login.gov adds selfie biometrics for May pilot

America’s single-sign on system for government benefits and services, Login.gov, is getting a face biometrics option for enhanced identity verification…


BIPA one step closer to seeing its first major change since 2008 inception

On Thursday, a bipartisan majority in the Illinois Senate approved the first major change to Illinois Biometric Information Privacy Act…


Identity verification industry mulls solutions to flood of synthetic IDs

The advent of AI-powered generators such as OnlyFake, which creates realistic-looking photos of fake IDs for only US$15, has stirred…


Idemia discusses faster police operations, improved outcomes with livescan biometrics

Biometrics, and fingerprints in particular, have long been one of the pillars of forensics work performed by police and crime…


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read From This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events