FacePhi has officially gone public in France. Shares of the company are now available on the Euronext Growth exchange in Paris, with a starting value set at €7.98 per share. A total of 13,277,083 shares were admitted to the exchange.
FacePhi is based in Spain, and has been listed the Spanish Alternative Stock Market (MAB) since 2014. Moving forward, the company’s stock will be listed at the same time on both markets.
The decision to go public in France was made after FacePhi posted record-breaking growth numbers in the 2019 fiscal year. The company’s stock appreciated more than 300 percent over the course of the year, making it the stock that had the most growth value on the Spanish exchange in 2019.
FacePhi is hoping that the initial public offering in France will raise the company’s profile and financial prospects on the European continent.
“Listing on both exchange markets will allow us to increase our presence in front of the European investors and strengthen our position as leading players within the national and international market,” said FacePhi CEO Javier Mira.
FacePhi enjoyed 82.88 percent growth in 2019, with a net turnover of €8.2 million, and made significant inroads in Latin America. The company’s selfie-based onboarding and authentication solution was adopted by numerous financial institutions throughout the region, and its current customer base now includes banks in Mexico, Ecuador, and Peru.
On that front, FacePhi has picked up right where it left off in 2020. The company has already secured new partnerships with Santander Argentina and the Credicorp Bank in Panama. It also completed its formal acquisition of Ecertic, a Spanish document recognition specialist that previously supplied technology for FacePhi’s SelphID solution. The acquisition allowed FacePhi to consolidate its portfolio and bring its technology in-house.
FacePhi acquired Ecertic for €2 million, a portion of which was paid with 164,706 FacePhi shares.
February 25, 2020 – by Eric Weiss