Biometric identity protection company Zwipe has raised an additional USD3.5m in Series A funding. USD2.5m was invested through a private placement, and the remaining USD1m was a grant given by the Government of Norway.
Having recently launched the Zwipe Access biometric card, the funding will be used to expand the sales organisation and increase investment in technology development and application.
“This additional funding further solidifies Zwipe’s vision of our product, our technology and the market,” said Kim Kristian Humborstad, CEO of Zwipe. “Because the Zwipe Access product is the only card on the market that protects user data by keeping biometric information on the card itself, not a remote server, our product’s potential applications in the consumer market are nearly limitless.”
In addition, industry veteran Clas Thelin has been appointed as new Chairman of the Board of Directors of Zwipe. Currently the Managing Partner of Candeo Group LLC, Thelin is formerly the President and CEO of ASSA ABLOY Americas, and former President and CEO of Loomis.
“Clas brings a wealth of both industry and market experience to the Board,” said Humborstad. “We believe he will make an extraordinary addition to our already very strong board.”
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Metromile has just landed nearly $200m in Series D funding for its auto insurance payments platform.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
London fintech startup Curve has picked up another $3m in funding to replace all the different payment cards in your wallet with just one.