Fingerprint payment card firm Zwipe has successfully raised $14 million in an oversubscribed offering of new shares to institutional investors and the general public.
Founded in 2009 and headquartered in Oslo, Zwipe has undertaken several biometric payment card pilots across Europe and the Middle East, partnering with Visa, Mastercard and Gemalto to test out its technology with a series of banks, including most recently Italy's Intesa Sanpaolo.
The company, which consists of a team 32 people, has since inception raised a total of $27.6 million in equity, debt and grants, including a $2.6 million award from the the European Commission’s Horizon 2020 programme in December 2018.
With the new funding under its belt, Zwipe plans to apply for for a listing on Oslo Bors' multilateral trading facility Merkur Market.
Jörgen Lantto, Zwipe chairman comments: “The capital raise and subsequent admission to trading at Merkur Market are important milestones for Zwipe, as the company seeks to capitalise on its strong position in the biometric payment marketplace and as the payment industry moves towards bringing biometric payment cards to consumers. We would like to thank our existing shareholders for their continued support and welcome all new shareholders to Zwipe.”