Yoti is a free app for consumers that lets users prove their identity to businesses, and prove their age on nights out and at supermarket self-checkouts. The app can also be used to verify the details of people online. This latest funding raise means the digital identity app is now valued at GBP 65 million. The finance will be used to grow its consumer network, with the company aiming to reach the two million user landmark during 2018.
The app is available for iOS and Android phones and takes less than five minutes to set up. Users take a selfie and scan a photo ID with their smartphone to create their digital identity. Yoti uses both facial recognition technology and a security team based in the UK to match individuals to their photo IDs and to verify the integrity of the information provided.
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