IrisGuard closes deal from Goldman Sachs

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fintech insurtech wealthtech regtech ai cybertech esg news

UK-based payment solution IrisGuard has closed an undisclosed investment from Goldman Sachs’ Merchant Banking Division.

Founded in 2001, the company uses iris recognition to help enable authentication of users for payments. Alongside this, the technology is used in banking, humanitarian relief and homeland security. Solutions available are EyeBank, EyeCloud, EyePay and EyeCash, as well as other identity applications to help with cardless cash withdrawals from ATMs, remittances and food voucher replacements.

The solution can also be used by individuals without bank accounts, helping them to access cash withdrawals, food vouchers, bank wires, and money transfers via just their eye’s identification. Its EyePay technology is also blockchain-ready and through a partnership with the United Nations, the solution is used to enable secure goods purchased and supplied through the Ethereum network.

This capital injection will be used by the company to support its international growth, as it looks to over into new territories.

IrisGuard CEO Imad Malhas,”We are very excited about the investment from Goldman Sachs, with their relevant experience in innovative and leading FinTech companies. This is also a tribute to IrisGuard’s pioneering EyePay® Platform and our strong growth prospects.”

This investment comes after an initial contribution was made into the company by Growthgate in 2010.

Earlier this month Goldman Sachs led the $10m Series A financing into informatics company Crux, which recently came out of stealth. The investment followed another recent investment made by the firm, with it leading the £115m round into personal finance app Neyber.

Copyright © 2017 FinTech Global

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