Zwipe AS

Zwipe AS is a technology company specializing in biometric card solutions that enhance security and convenience in payment transactions through fingerprint recognition integrated into payment cards. Zwipe AS, founded in 2009 in Oslo, Norway, focuses on biometric technology for payment and access control systems. The company has raised NOK 96. 00 mn in its latest funding round, a Private Placement/Follow on, bringing the total amount raised to NOK 96.

00 mn. Zwipe has executed a total of 9 deals, with the most recent deal occurring on January 28, 2019. The company does not operate as a subsidiary and has no reported pivots or changes in its core business strategy. Zwipe specializes in biometric card technology, providing a range of innovative products designed to enhance access control and payment security.

Their flagship offering is the world's first VISA and Mastercard-approved biometric card platform, which integrates fingerprint recognition technology directly into payment cards. This technology enables secure and convenient transactions, allowing users to authenticate payments simply by using their fingerprint, thereby addressing the need for safer financial transactions in various sectors. The company serves a diverse client base, including financial institutions, card issuers, and access control system providers across multiple geographical markets, notably in Europe, North America, and parts of Asia. By adapting their technology to various industry verticals, Zwipe caters to different end-user applications, ranging from consumer payments to enterprise security solutions.

In the most recent fiscal year of 2023, Zwipe reported a revenue of NOK 198,764. 50 with an EBITDA of NOK -9,408,943. 30. The company's revenue model is primarily structured around partnerships with banks and payment service providers, where they license their biometric technology for integration into payment cards and access control systems.

These partnerships typically involve a transaction-based framework, allowing clients to pay for the biometric solutions based on usage, performance, or a fixed subscription model. Zwipe's focus on innovation and security creates a compelling value proposition for its clients, facilitating transactions that prioritize user convenience while ensuring robust security measures. Their biometric cards are positioned as premium products in the market, appealing to financial institutions looking to enhance their offerings with cutting-edge technology. The structured transactions between Zwipe and its clients support the deployment of these biometric solutions, driving growth across their diverse product lines.

Zwipe AS is focused on expanding its product lineup and market reach. The company plans to introduce new biometric card solutions designed to meet evolving security needs in financial transactions with expected launches in the near future. Additionally, Zwipe aims to expand into new markets, particularly targeting regions in Asia and North America by the end of 2024. The NOK 96.

00 mn raised from the latest funding round will be utilized to support these initiatives, enhancing research and development capabilities while bolstering market entry efforts. In January 2019, Zwipe raised NOK 120 mn in an IPO by selling 6 million shares at NOK 20 per share, indicating a strong interest in their offerings.