Zwipe Raises $4.3 Million with Private Placement

Norway-based fingerprint biometrics specialist Zwipe has raised NOK 36.5 million, or roughly $4.3 million USD, from a new private placement. The company says the new shares went to both existing and new investors, including former Fingerprint Cards CEO Jörgen Lantto, who joined Zwipe’s Board of Directors last November.Zwipe Raises $4.3 Million with Private Placement

In a statement announcing the new capital, Zwipe framed it as part of a larger growth effort, saying it is currently “preparing a commercial launch of technology for payment solutions”, and alluded to recent changes meant to strengthen the company’s leadership – as in its appointment of new executives late last year – and its business partnerships. Zwipe CEO Kim Humborstad added that the private placement proceeds will “strengthen our financial flexibility, assuring our ability to deliver on our positive and maturing partnerships across the world.”

The news comes immediately in the wake of a big capital-raising effort from another Norway-based fingerprint biometrics specialist, NEXT Biometrics, which announced a 156 million NOK (USD $18.7 million) influx of capital from a private placement earlier this week.

February 9, 2017 – by Alex Perala