FacePhi secures $4.4mn investment from Nice&Green
18 September 2019 14:20 GMT

FacePhi, a  company in biometrics recognition technologies applied to the financial sector, and Nice&Green, a Swiss firm specializing in investments in small and medium-sized listed companies, have signed an investment agreement worth 4 million euros ($4.4mn) that will strengthen the growth of the technology company. This financial movement also seeks to accelerate the business development of the company specialized in biometrics in the American and Asian markets. 

In this respect, Javier Mira, FacePhi CEO, has outlined that “with this financial alliance our company has more capacity to expand its commercial network and accelerate its growth in high-potential markets such as Latin America, the United States and Asia, where just a few months ago we opened our first headquarters in South Korea.”

The agreement with Nice&Green will come into fruition with an issuance of warrants worth 3.5 million euros plus a capitalizable loan of 500,000 euros more. This financial alliance has an investment obligation for a total of 4 million euros up to September 2020.

Specifically, the funds received from Nice&Green will allow FacePhi to incorporate new talent, develop new solutions and boost commercial actions and business development, both in the South Korean-based Asian subsidiary, FacePhi APAC, and in the markets where the company already operates, especially in Latin America.

In turn, the financial support from Nice&Green will allow for the penetration of the technology company in the US dynamic market, thus extending its expansion strategy to this new market.

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