SBI leads £1.5m funding round for PixelPin

The fund manager invested £1m in the round, with the remaining £500,000 coming from existing angel investors.

PixelPin will pursue international expansion via the opening of a new office in Tokyo. It will also invest in product development and look to expand its customer base, with a particular focus on the finance and retail sectors.

SBI drew capital from SBI AI & Blockchain Fund, which closed on ¥60bn (around €475m) with the backing of 120 LPs in December 2018. The latest round brings the total amount raised by PixelPin to $4.5m (€4.0m).

Company
Headquartered in London and founded in 2011, PixelPin develops image-based identity verification software. The platform enables users to log into online accounts by combining images with personal descriptions of what the image shows.

People
SBI Holdings – Yoshitaka Kitao (president, CEO).
PixelPin – Geoff Anderson (CEO, co-founder).

Advisers
Company – Osborne Clarke (legal).

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• Osborne Clarke
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