Zwipe announces additional USD3.5m in series A funding

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Biometric solution

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.”

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