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Zwipe completes equity capital round, prepares for larger-scale product roll out

 

Biometrics technology firm Zwipe completed a $4.3M private placement of new shares to existing and new investors with members of the board, including Jörgen Lantto, participating.

This equity capital round follows Zwipe’s $5 million financing in 2015 and brings total raised in equity, debt and grants since inception to $19 million.

Zwipe is pursuing a growth strategy, strengthening its organization, board, partnerships and market presence in preparation for a commercial launch of its technology for payment solutions, and moving toward a larger scale product roll out.

“We are adding capital to strengthen our financial flexibility, assuring our ability to deliver on our positive and maturing partnerships across the world,” said Kim Humborstad, Founder and CEO of Zwipe, adding “this latest financing enables continued investment in organizational development, internal infrastructure and customer centric innovation on our biometric authentication solutions. We look forward to continue on our scale-up journey in 2017 and beyond.”

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