Macfarlanes advises Yoti on securing investment from Lloyds Banking Group

22 March 2023

Macfarlanes has advised Yoti, a London-based digital identity technology company, on securing investment from Lloyds Banking Group, the largest UK retail and commercial financial services provider.

Yoti offer a range of digital identity solutions that make it simple for people and businesses to protect themselves online. This includes a free Digital ID app, which gives individuals a safe and instant way to prove their identity from their phone, with no need to show ID documents or share an excessive amount of personal data. Digital IDs are a UK government-approved form of identification for right to work, right to rent and criminal records checks.

Yoti's Digital ID is also accepted as proof of age at UK cinemas, and for the sale of lottery tickets, energy drinks and tobacco. Businesses across a range of industries - from financial services and retail to gaming and e-commerce – are already seeing the benefits of Digital ID services.

This investment from Lloyds Banking Group supports the development of innovative technology to keep people safe online, tackle the ever-growing risks of identity fraud, and give people more control over their personal data.

The Macfarlanes team was led by corporate and M&A partner Richard Burrows and associate Maeve Williams.