Digital identity platform Yoti has raised £8m in an equity funding round, which has seen the startup’s valuation rise to £65m.

The startup drew support from existing angel investors and two of its three founders, Robin Tombs and Noel Hayden.

Yoti, based in London, will use the cash injection to grow its consumer network, aiming to reach 2 million users throughout this year.

Robin Tombs, also the CEO, said “We’re giving everyone a simpler and safer way to prove their identity and protect themselves from everyday issues which cost time, money and emotional distress. After three years of hard work by the team, we’re very excited that over 4,000 people a day are installing Yoti, and we hope millions of people will benefit from our approach to digital identity.

“This funding round will enable us to accelerate our UK growth and respond to the significant international interest that Yoti is attracting from businesses worldwide. There are already 3 billion smartphone users globally and we, at Yoti, believe many of them over the next five years will choose to use a digital identity like Yoti.”

The startup offers a free app for consumers that enables them to prove their identity to businesses. Consumers can also use the app to prove their age on a night out or at supermarket self-checkouts.

Yoti can also be used to verify the details of people online and to securely login to websites without having to remember a password. It uses advanced hybrid encryption to secure data.

Check out the UK tech investment tracker for all the latest industry deals.