PAYCASSO VERIFY LIMITED
Company number 08057477 · Monitor this company
Executive summary
Paycasso Verify Limited (trading as Xydus) operates in the structurally growing UK RegTech/digital identity verification sector but exhibits severe financial distress that places it well below industry norms — with negative shareholder funds of £11.7M, near-depleted cash reserves, and a balance sheet only salvaged by post-year-end debt-to-equity conversion. Despite favourable market tailwinds from AML regulation, the Online Safety Act, and fraud concerns, the company appears to be a sub-scale, capital-constrained niche player unable to compete effectively with well-funded sector leaders like Onfido, Jumio, or Veriff, and faces existential questions about its path to sustainable scale. The combination of a recent rebrand, CEO/director turnover, and reliance on continuous recapitalization suggests the company is in a critical restructuring phase where its long-term competitive viability remains uncertain.
Shareholders' funds
-£11,723,208
Balance sheet as at 2025-05-31
Overview
- Company type
- Private Limited Company
- Incorporated
- 2012-05-04
- Employees
- 12 (2025 accounts · was 22 in 2024)
- Registered office
- Harben House Harben Parade, Finchley Road, London, United Kingdom, NW3 6LH
- Postcode
- NW3 6LH
- Capital
- 923 GBP
- Accounts category
- Total Exemption Full
- Charges
- 0 outstanding
Accounts
- Last made up to
- 2025-05-31
- Next due by
- 2027-02-28
- Financial year end
- 30 May
Confirmation statement
- Last statement dated
- 2026-05-04
- Next due by
- 2027-05-18
Nature of business (SIC)
- 62090 Other information technology service activities
Officers 2 current · 14 resigned
Group structure 1 subsidiary
From persons-with-significant-control filings on the public register.
Contact details
Previous registered addresses 1
| Address | Changed on |
|---|---|
| 20-22 BEDFORD ROW, LONDON, WC1R 4JS | 2017-09-26 |
Among its peers
Among the biggest employers
of 313 similar companies in NW, with 12 staff. Among the oldest 25% of its local peers.
Competitors London
-
5. GRANTIFY LTD
This company ranks 521 among other information technology service activities in London.
The class of 2012
23%
of the 5,892 companies in this sector incorporated in 2012 are still active today; 74% have since been dissolved.
A fact about the year, not a forecast for this company.