After more than two years of active engagement in the Canadian market, we formalise our commitment to the country with the establishment of a dedicated subsidiary, reinforcing our capacity to serve a market undergoing profound regulatory and financial transformation.
We are pleased to announce the opening of our new subsidiary in Canada. The move marks a strategic milestone in the company’s international expansion, consolidating the presence we have been building across Canada and positioning us to meet the accelerating demand for AI/ML-powered identity and anti-fraud technology in one of North America’s most dynamic financial ecosystems.
A strategic commitment grounded in proven market presence
Facephi’s expansion into Canada reflects a deliberate, long-term approach to market development. Over the past two years, the company has cultivated deep expertise in the Canadian financial and regulatory landscape, established active partnerships with some of the country’s most prominent banking institutions, and embedded itself within the ecosystem through our membership of the Digital ID and Authentication Council of Canada (DIACC) since 2024. DIACC has united private sector leaders, government bodies, and academic institutions around a shared framework for secure digital identity, a mission that aligns directly with our own purpose.
“Canada is a market we know well and have been actively building in for more than two years. Our team has worked alongside some of the country’s leading financial institutions, contributed to the national conversation on digital identity through DIACC, and seen first-hand the scale of the challenge that fraud poses. Establishing our office here is a statement of long-term commitment to our clients, to the Canadian ecosystem, and to the mission of making digital interactions safer and more trustworthy for everyone.” Javier Mira, CEO, Facephi.
The relevance of this capability to the Canadian context cannot be overstated. According to the Canadian Anti-Fraud Centre (CAFC), Canadians reported losses of over $704 million to fraud in 2025, a figure that represents only five to ten per cent of actual incidents, identity fraud remains the single most reported category. As fraud tactics grow more sophisticated, driven by AI-generated deepfakes, synthetic identities, and increasingly coordinated attacks, the need for a multi-layered, intelligence-first approach to identity security has never been more critical.
Canada represents one of the most attractive global markets for cybersecurity and digital identity technology. Industry forecasts point to a compound annual growth rate (CAGR) of between 10 and 14 per cent during the 2026–2034 period, driven by the rapid digital transformation of the financial sector, public services, and critical infrastructure, alongside an increasingly demanding regulatory environment covering data protection, fraud prevention, and secure digital identification.
This environment represents a significant and well-timed opportunity. The company’s existing offices in Spain, Uruguay, and South Korea, combined with our new Canadian presence, further strengthen our global delivery capabilities and our ability to serve multinational clients with consistent standards across geographies.