CardLab launches $10M equity offering to fuel biometric card commercialization
CardLab has launched a potential $10 million equity offering as it works towards commercialization of its biometric smart cards.
The offering is being managed by US Capital Global affiliate US Capital Global Securities LLC, a FINRA member and SEC-registered broker-dealer.
The Denmark-based card provider has manufacturing partners in Asia and the United States and a card lamination factory in Thailand, the announcement notes. CardLab received support from the European Commission’s Horizon 2020 program to develop ID cards with embedded fingerprint biometrics in 2017, which the company refers to as a nomination as one of Europe’s most innovative tech companies. The company integrated a sensor from Fingerprint Cards with its smart cards to produce the QuardCard, which it released to the market earlier this year to address a range of government and identity applications.
CardLab also joined Mastercard’s 2021 Lighthouse program to present its biometric card with data stored on the blockchain to financial services providers.
“We’re immensely pleased to be working with US Capital Global Securities on this $10 million equity offering,” says Frank Sandeløv, CEO at CardLab. “We have conducted extensive research into high-security cards, identity theft problems, and solutions to online fraud and card security issues, and are proud to have developed some very sophisticated products and achieved significant technological advances as a result. This equity offering will enable us to increase manufacturing and deliver our highly sought-after and urgently needed card security solutions to an expanding client base worldwide that is facing challenges from huge cyber security threats to secure physical and digital access control issues.”
CardLab provides technical design and manufacturing support for digital card solutions, compatible with existing infrastructure and featuring scalable levels of security, which it says makes implementation affordable.
“Since its launch in 2006, CardLab has grown into a world leader in the powered smart card industry, with customers in the U.S., Canada, Japan, Korea, Thailand, India, Sweden, Spain, Denmark, and the UK,” states Charles Towle, CEO at US Capital Global Securities. “Internationally recognized for its technological advancements, CardLab is the only provider of fully customizable security cards and has the ability to scale up with in-house operations. If you are interested in CardLab, the opportunity to participate in this $10 million equity offering is now open to eligible investors.”