FB pixel

Flywallet closes second Seed round to advance biometric wearable platform

TAS Group connection and commercial agreement included
 

Keyble biometric wearable

Flywallet has successfully closed a second Seed financing round to bring its ‘biometric wearable platform as a service’ to market, with Global Payment S.p.A., a subsidiary of TAS S.p.A. and therefore cousin to TAS Group, signing a reserved investment agreement for a minority stake.

The amount of funding received was not disclosed.

TAS Group is a multinational payment software provider, with more than 100 million payment cards under the management of its platforms. Flywallet plans to accelerate its go-to-market for its mobile wallet, which it says is the first for tokenizing payment cards on wearables with biometric authentication, through TAS Group’s network. A commercial agreement will also be signed for Global Payment to distribute Flywallet’s wearables and service platform to TAS Group customers.

Flywallet introduced the Keyble, which captures fingerprint and heartbeat biometrics for contactless payments and passwordless authentication, at CES 2021 earlier this year.

“It is an honour for Flywallet to count TAS among its shareholders and partners. Between TAS and Flywallet there is a perfect strategic fit and a total sharing of the company’s core values, including customer centricity and a relentless pursuit of service quality,” says Flywallet Founder and CEO Lorenzo Frollini. “In the medium term, the strategic partnership with TAS will also allow Flywallet to expand its range of services through the opportunities offered by PSD2.”

The company is proposing a ‘biometric wearable platform as a service’ model, in which e-money and payment institutions, banks, insurance companies and other businesses would connect to the platform via APIs to deliver new types of digital services.

Flywallet’s product roadmap also incudes certification of its wearable in early 2022 as a medical device for analysis of cardiac arrhythmias, blood oxygen saturation and body temperature.

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News

 

Securing user trust and safeguarding platforms with biometric identity verification

Verified trust is the new currency: so says a new report from reusable verified identity and screening company Trua, looking…

 

Essex Police reveal impressive accuracy of LFR from Corsight, Digital Barriers

England’s Essex Police have performed 383,356 match attempts with live facial recognition software from Corsight AI and Digital Barriers, with…

 

US and UK refusal to sign Paris declaration shows divergence in AI strategy

The U.S. and the UK have declined to sign the Paris AI summit declaration, which seeks to establish a “human…

 

DHS’s compliance with AI privacy, civil liberties requirements lacking, IG says

The Department of Homeland Security (DHS) has made strides in developing policies and frameworks to govern its AI use, including…

 

Precise Biometrics: quarterlies, annuals, SEC actions

Feb 13, 2025 – Net sales for Precise Biometrics rose 15.7 percent percent from 75.1 million Swedish kronor (approximately US$7 million)…

 

YouTube, Meta lean into age assurance in 2025

In the past twelve months, age assurance for online content – a method for knowing that a user is of…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events