Riga HandwaveA biometric startup established in Latvia has collected € 3.6 million of the seed funds to provide its palm-based payment and introduce identity platforms to Europe and the United States.
The round includes the support of regional investors led by Practic Capital with the support of FirstPic, Outlast Fund and Innovo.VC and will fund product development, regulatory certificates and live retailers.
“We are creating the next evolution in the daily identity and the experience of paying money” StinkerCo-founder of the handwave. “The checkout process in physical stores is still full of friction-digging apps for a wallet, scanning loyal cards or QR codes, verifying age when purchasing age-confined items. It is slow, stylish and often frustrating. Handwave facilitates all of them with a single gesture. When people hear that they can pay, collect loyalty points, and only by showing their palm to verify their identity, they immediately realize the advantage. By clicking it immediately. We are not just innovating in the interest of technology – we’re solving a real and universal problem for both customer and merchantThe “
Established in 2021, the handwave turns your palm into a secure, communication way, to prove your age, activates immediate loyalty and check -in – no card, any phone, no app, no facial scan. Just a gesture.
The founder of the organization and the original team comes from the finance and technology industry, to understand the importance of the industry’s requirements as well as the importance of security, consent and benefit in modern solutions.
Handwave re -imagine how people give them and verify them – how to pay and verify the card, phone and even facial recognition with a simple palm scan. Using the owned technology, the solution enables the customers to easily ship themselves, using their phone camera to scan and pay their palm cards and loyalty cards, as well as the identity certificate in a protected digital wallet.
Once admitted, users can only hold their palm on the reader, activate loyalty, or confirm their age – no apps, phones or wallets are needed in the checkout.
The agency says that contrary to mouth recognition, however, their technology does not track each of your movements; And contrary to the fingerprints, it is more tough to disguise. Handwave uses two types of imaging – to create a unique, encrypted ID, captures both the surface of your palm surface and subdermal vein structure. Each scan has been backed up by its own unique algorithm-2-factor authentication.
https://www.youtube.com/watch?v=wiaqlkhdkti
The Handwave platform provides three main customer groups:
- Private people who look for a faster, more pause in-stor checkout without awakening the loyal card or unlocking devices.
- Merchants and retailers who want to reduce the friction in checkout, increase customer experience and access smart services such as built -in age verification and compliance with loyalty.
- Service suppliers, financial institutions, payment operators and banks are both consumer and business through achievement-partnership
For retailers, handwave provides an equipment to increase the throput, to ease consent, and digitize customer relationships.
“Handwave demonstrates the kind of bold thoughts we do among the local Baltic founders“Said BlozPartner in Pratika Capital. “The idea that you can get out of the phone without the need to get out of the phone can pay or verify your identity without your palm is not just the future, it is inevitably practical. Their technology is courageous, intuitive and answered a real need in today’s growing digital world. And we believe that the handwave is at the forefrontThe “
To today, Handwave has collected € 4.3 million dollars in total funding, which contains the previous € 682K angle investment. The company is currently preparing for the market pilots, deepening its biometric infrastructure and is involved in Baltics and its merchant partnership.
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