Zwipe develops biometric authentication solutions that store users' fingerprint data securely on the card itself, removing the need for external or cloud-based biometric databases. Its technology targets high-volume applications across payments, access control and identity. The company was founded in 2009 by Kim Humborstad and is led by CEO André Løvestam. Zwipe launched a public offering of 6,000,000 new shares as part of a planned listing on Merkur Market, Oslo Børs. The offering priced shares at NOK 20 each, corresponding to NOK 120 million (about $14m). The retail tranche was oversubscribed and the company has applied for admission to trading, with expected approval around 25 January 2019. Zwipe develops contactless payment cards that embed a fingerprint reader to authenticate transactions without requiring a PIN. The cards rely on payment terminals to power the sensor via a patented energy-harvesting technology, and fingerprint data is stored on the card's secure element. Zwipe says its cards work with existing POS terminals and payment infrastructure, enabling contactless payments with biometric authentication and faster Chip-and-PIN flows. The company has partnered with MasterCard and planned a commercial rollout that was delayed to Q1 next year in an unnamed European market with an unnamed industry partner. Financially, Zwipe closed a $5M Series B and has raised $11M in total since 2009. The new funding is earmarked to accelerate commercial deployment and support additional R&D. Zwipe develops a wirelessly powered NFC biometric card (Zwipe Access) that stores fingerprint data on the card rather than on a remote server. The product enables authentication through a user’s fingerprint instead of a PIN. The company says the card is unique in keeping biometric information on-card, which it views as enabling broad consumer and access-control applications. Zwipe plans to use new funding to expand its sales organization in the growing access control market and to increase investment in technology development and application. Zwipe was founded in 2009 and is positioned as a fast-growing company in a rapidly evolving industry. The company also highlighted a strengthened board with the appointment of Clas Thelin as chairman.

Total raised

$23M

Funding rounds

4

Latest round

Series B

Latest activity

Jan 2019