Encap offers a mobile-based two-factor authentication solution that asks users to enter a PIN in an app while the service generates and sends a code to the site behind the scenes. The product is delivered as a white-label API that can be integrated into business mobile apps and online sites. Early targets are transactional sectors—banks, financial services, and e-commerce—with use cases including mobile payments and enterprise access. Its first customers include Santander Consumer Bank of Norway and payment card specialist EnterCard. The company says it will use new funding to further develop the solution and expand into markets outside Scandinavia; it has opened an office in Palo Alto to pursue the U.S. market. CEO Thomas Bostrøm Jørgensen positions the product as combining banking-grade security with ease of use to replace SMS codes and separate hardware tokens.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2013