Annual Report and Accounts for the year ended 31 December 2020
Titan today announces the final results for the year to 31 December 2020 as below.
These results were approved by the Board of Directors on 23 April 2021.
You may view the Annual Report in full at
www.octopusinvestments.com shortly. All other statutory information will also be found there.
Octopus Titan VCT plc (‘Titan’ or ‘the Company’) is a venture capital trust (‘VCT’) which aims to provide shareholders with attractive tax-free dividends and long-term capital growth by investing in a diverse portfolio of predominantly unquoted companies. The Company is managed by Octopus Investments Limited (‘Octopus’ or ‘Portfolio Manager’) and Octopus AIF Management Limited (the ‘Manager’).
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Onfido Delivers Record Revenue Year for Fiscal 2020
82% increase in global ARR fueled by strong demand from enterprises Onfido, the global identity verification and authentication provider, today announced it has recorded unprecedented growth in 2020. Global annual recurring revenue (ARR) increased by 82% year-over-year. The company more than doubled its sales in the US, which is one of its fastest growing regions. In addition, the company added 320 new clients to its roster, fueled by an acceleration of digital transformation initiatives by enterprises worldwide.
According to Gartner, 69% of boards of directors (BoDs) accelerated their digital business initiatives in the wake of COVID-19 disruptions. This, together with a 41% increase in identity fraud, spearheaded the need for greater and more sophisticated remote security measures, in particular identity verification.