MagicCube raises $10m to expand software-based security beyond payments

January 13, 2026

MagicCube, a software-based security provider for payments and device integrity, has raised $10m in new funding to support its expansion beyond tap-to-phone technology into areas including biometrics, identity verification and AI-driven device security.

The funding round includes new strategic investment from Verifone, alongside continued backing from existing investors Bold Capital, Mosaik Partners and ID Tech. MagicCube also confirmed participation from a major global investor based in EMEA, which will be disclosed at second closing.

Founded in 2014 and headquartered in Cupertino, California, MagicCube develops Software Defined Trust (SDT), a software-only approach that delivers hardware-grade protection for mobile devices. Its software Trusted Execution Environment enables secure computing and data protection across smartphones, tablets and IoT devices without the need for specialised hardware.

The new capital will be used to accelerate research and development in software-based trust technologies, expand MagicCube’s AI-driven security capabilities and strengthen integrations across global payment and identity ecosystems.

MagicCube is best known for its i-Accept® product, which turns standard mobile devices into compliant contactless payment terminals. Through this offering, the company has partnered with major financial institutions and acquirers, including JPMorgan Chase, Global Payments, Fiserv and Dojo by Paymentsense.

MagicCube CEO and co-founder Sam Shawki said, “With this round and with Verifone joining as both an investor and partner, we are moving beyond payments into securing the next era of digital identity, IoT, and AI-driven computing. Our mission is to make trusted environments available anywhere — from phones to cars to connected systems at the edge.”

MagicCube CTO and co-founder Nancy Zayed said, “Our mission is to give our partners, their merchants, and their ISVs peace of mind, knowing they are using the most advanced technology to secure the digital experiences they deliver to their end users—pure software with hardware‑grade security and global scalability. This is the fastest path to delivering trusted digital services—not just for payment acceptance, but also for identity, biometrics, and AI‑driven edge security at global scale.”