Dec. 10, 2013 15:24 UTC

Zwipe Announces Additional $3.5 Million in Series A Funding

Industry Veteran Clas Thelin Joins Zwipe as Chairman of the Board of Directors

OSLO--(BUSINESS WIRE)-- Zwipe, a global leader in biometric identity protection, has raised an additional $3.5 million in Series A funding. Of the $3.5 million, $2.5 million was invested through a private placement, and the remaining $1 million was a grant given by the Government of Norway.

Having recently launched the Zwipe Access biometric card, this funding will be used to both expand the sales organization for the growing access control market, as well increase investment in technology development and application.

“This additional funding further solidifies Zwipe’s vision of our product, our technology and the market,” said Kim Kristian Humborstad, CEO of Zwipe. “Because the Zwipe Access product is the only card on the market that protects user data by keeping biometric information on the card itself, not a remote server, our product’s potential applications in the consumer market are nearly limitless.”

In addition, industry veteran Clas Thelin has been appointed as new Chairman of the Board of Directors of Zwipe. Currently the Managing Partner of Candeo Group LLC, Thelin is formerly the President and CEO of ASSA ABLOY Americas, and former President and CEO of Loomis.

“Clas brings a wealth of both industry and market experience to the Board,” said Humborstad. “We believe he will make an extraordinary addition to our already very strong board.”

About Zwipe:
Founded in 2009, Zwipe is a fast growing company in the center of a quickly evolving industry. Zwipe has a strong portfolio of Patent Applications and is continually developing more.

The Zwipe product is a wirelessly powered card with which you authenticate yourself not through something you know (pin code), but through something you are (your fingerprint). The card is based on a NFC (Near Field Communication) platform with no external database containing sensitive information, as the fingerprint data is only stored inside the Zwipe card. To learn more about Zwipe, please visit www.zwipe.com, or follow Zwipe on Twitter @zwipe.

Contacts

For Zwipe
Kim Kristian Humborstad, +47 922 52 006
kim@zwipe.no


Source: Zwipe