With the newly received GBP 20 million funding, Yoti intends to support its development strategy by achieving profitability and continuous growth. The funds come as an addition to the previous GBP 10 million that Yoti received from Lloyds Banking Group in March 2023. As per the information detailed in the press release, the company’s total funding currently exceeds GBP 166 million, with the majority being offered by its founders and angel investors since it started its operations in 2014.
As a digital identity technology company, Yoti aims to enhance how individuals prove who they are by verifying identities and trusted credentials online and in person. Currently, the company provides verification services across the world, having over 13 million downloads of its free Yoti Digital ID app.
The previously raised funds allowed Yoti to develop proprietary technologies for identity verification, age validation, authentication, and esignatures, as well as facial age estimation, liveness, and facial recognition artificial intelligence (AI). According to company data, Yoti completes over 6.5 million age and identity checks every month, while entering partnerships globally across the financial, banking, government, gaming, gambling, dating, employment, social media, adult, retail, and vaping sectors to advance its growth. Some of Yoti’s clients include Meta, Sony PlayStation, Yubo, Aldi, Sterling Check, HireRight, First Advantage, Checkr, Muzz, Aylo, Regal Gaming, Connells, and NSPCC, among others.
Representatives from Yoti expressed their enthusiasm over the funding round and underlined the company’s plans to leverage the newly acquired funds to sustain its growth and reach profitability. The company intends to continue its work in the trust, security, and safety sectors in the digital environment. Recently, Yoti entered multiple collaborations and launched several capabilities to advance its growth plan, including its partnership with Paays from November 2023. By joining forces, the two companies intended to reduce identity fraud in auto financing by integrating Yoti’s identity verification technology with Paays’ ID Verifier solution. Through this, Yoti and Paays aimed to improve the overall customer experience, reinforce identity checks, and minimise the risk of fraud in the context of auto finance applications.
Additionally, Yoti launched its Digital ID app with Lloyds Bank in October 2023, with the funds offered by the banking group supporting the development of the reusable digital identity app that reduces the increasing risk of identity fraud. The company also created Digital ID Connect, one of the UK’s largest digital identity networks offered by Yoti, Post Office, and Lloyds Bank.
To discuss advances in digital banking in Europe, attend talks and network with industry leaders, attend the 3rd Client Onboarding And Digital Identity Summit For Financial Institutions, taking place on September 24-25, 2025, in Prague, Czechia.
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