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Digital Identity, Security & Online Fraud

FacePhi to adopt biometrics in fintech markets, securing EUR 4 mln

Thursday 19 September 2019 | 11:11 AM CET

FacePhi has announced it secured EUR 4 million – representing USD 4.4 million – in funding from investment company Nice&Green.

The aim of this initiative is to boost adoption of the company’s biometric onboarding and authentication products in the US and Asian fintech markets. Also, the investment amounts to warrants worth EUR 3.5 million and a capitalisable loan of EUR 500,000, while the investment obligation is for EUR 4 million until September 2020.

The capital will be invested in increasing the number of team members, as well as in developing new solutions. The goal is also to expand business development and commercial efforts for the South Korean office and other markets where it conducts business, especially in Latin America.

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