FacePhi Brings in Record Revenue in 2021

FacePhi is reporting record growth in 2021. The company’s (unaudited) revenues come to €13.17 million for the year, a figure that easily eclipses the €7.27 million that the company generated in 2020.

That growth translated to high turnover, which was up 81 percent year-over-year. FacePhi’s EBITDA was down slightly (to €860,445), though FacePhi stressed that the figure is still positive, and attributed the dip to infrastructure investments that should pave the way for even bigger growth in the years ahead. In that regard, the company’s head count jumped another 207 percent in 2021.

“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,” said FacePhi President and CEO Javier Mira.

Moving forward, FacePhi will be able to leverage its status as a “Strategic Company” in Spain to attract more international talent. The designation comes courtesy of the Ministry of Industry, Commerce, and Tourism, and gives FacePhi preferential treatment when issuing visas to skilled professionals for the next two years.

FacePhi credited its recent growth to its expansion into new markets in 2021. In some cases, that means that the company secured its first partnerships in a new country like Vietnam or Nigeria. In others, it refers to new commercial sectors. FacePhi is best known for providing identity services for the financial industry. However, it has now deployed its technology in other fields, with highlights that include an air travel partnership with AENA and a smart city project with CityLabs on the island of Jeju in South Korea.

FacePhi’s ISO 27001 certification was one of its other major achievements in 2021. The company also boasted about its strong client retention rate, which now exceeds 95 percent.

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February 7, 2022 – by Eric Weiss