PayTouch announces new round of funding, plans to relocate

December 11, 2013 - 

PayTouch has announced a new round of funding, that it hopes will held the company raise US$1.38 million (1M€) by the end of the year.

So far, the company has raised €300,000 and has plans to develop a second version of its fingerprint payment product. In order to do this, PayTouch wants to increase its R&D team and its resources.

The company has also announced that some of its strategic alliances will be closed to allow the company to be launch its second iteration. PayTouch also says it’s working in the territories where some of its first round of funding came from. In these cases, some investors have become strategic partners in their own regions.

PayTouch is currently based out of Barcelona, though the company is looking to relocate its headquarters. As of yet, a new location has not been picked, but the company says this relocation will happen in the next few months.

‘After these first years, the startup continues to face hopefully the following stages that the project requires and is fighting to become one of the referees who want to change the paradigm of the traditional payment systems,” CEO Javier Peso said.

BiometricUpdate.com spoke with Peso last year about the formation of PayTouch, as well as his own priorities as chief executive. Read the full interview here.

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About Adam Vrankulj

Adam Vrankulj is an editor for BiometricUpdate.com. His background consists of online news writing, editing and content marketing. Adam has written for CBCNews.ca, BlogTO and was the editor and curator for the nextMEDIA and CIX Source publications. He has a degree in journalism and is passionate about science, technology and social innovation. Contact Adam, or follow him at @adamvrankulj