We’re really pleased to announce that we have raised £8m of funding, following a successful November launch and increasing traction amongst consumers and businesses.
The funding was raised by existing angel investors and two of our three founders, Robin Tombs and Noel Hayden. This gives Yoti an enterprise valuation of £65m. The funds will be used to grow our consumer network, with an aim of reaching 2 million users during 2018.
“We’re giving everyone a simpler and safer way to prove their identity and protect themselves from everyday issues which cost time, money and emotional distress,” said CEO Robin Tombs. “After three years of hard work by the team, we’re very excited that over 4,000 people a day are installing Yoti, and we hope millions of people will benefit from our approach to digital identity. This funding round will enable us to accelerate our UK growth and respond to significant interest that Yoti is attracting to businesses worldwide. There are already 3 billion smartphone users globally and we, at Yoti, believe many of them over the next 5 years will choose to use a digital identity like Yoti.”