{"id":4150,"date":"2019-01-22T14:46:34","date_gmt":"2019-01-22T14:46:34","guid":{"rendered":"https:\/\/fintech.global\/AIFinTechForum\/?p=4150"},"modified":"2019-01-22T14:46:34","modified_gmt":"2019-01-22T14:46:34","slug":"zwipe-pulls-in-14m-funding-ahead-of-trading-on-merkur-market","status":"publish","type":"post","link":"https:\/\/fintech.global\/AIFinTechForum\/zwipe-pulls-in-14m-funding-ahead-of-trading-on-merkur-market\/","title":{"rendered":"Zwipe pulls in $14m funding, ahead of trading on Merkur Market"},"content":{"rendered":"

Norway-based biometric technology developer Zwipe has closed a new round of funding on NOK 120m ($14m), ahead of the release of trading on Merkur Market, Oslo B\u00f8rs.<\/strong><\/p>\n

Investors to the round were not disclosed, but the company said the round was over-subscribed and received interest from institutional and professional investors. It was also backed by members of the public across Norway and Sweden, it claimed.<\/p>\n

The capital injection was split by $10.5m coming from new institutional and professional investors, and the remaining $3.5m coming from previous backers and retail investors. This funding was facilitated through the sale of six million new shares in Zwipe at NOK 20 apiece. A pre-money valuation of Zwipe was set at NOK 189m ($22m).<\/p>\n

There are approximately 2,300 investors to be allocated Zwipe shares.<\/p>\n

As\u00a0previously outlined in Zwipe\u2019s plans for 2019,<\/a>\u00a0the RegTech is looking to gain admission for trading on Merkur Market. Expectations are that Oslo B\u00f8rs will approve the listing later in the month, with trading commencing shortly after.<\/p>\n

Zwipe CEO Andr\u00e9 L\u00f8vestam said, \u201cZwipe is at the forefront of a global shift towards more secure and convenient contactless payments and the market is primed for growth. We are confident that our industry leading technology and partnerships will secure a strong market position both in the short and long-term. Thanks to the new funding received, we can intensify our efforts to support our customers and partners in Making Convenience Secure.\u201d<\/p>\n

Zwipe develops biometric technology for payments, access control and identity. The company has built a payment card which has an embedded fingerprint scanner which verifies the transaction at the point-of-sale.<\/p>\n

Copyright \u00a9 2019 RegTech Analyst<\/p>\n","protected":false},"excerpt":{"rendered":"

Norway-based biometric technology developer Zwipe has closed a new round of funding on NOK 120m ($14m), ahead of the release of trading on Merkur Market, Oslo B\u00f8rs. Investors to the round were not disclosed, but the company said the round was over-subscribed and received interest from institutional and professional investors. It was also backed by… <\/p>\n

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