Latvian biometric startup Handwave has secured $4.2 million in Seed funding to introduce its palm-based payment and identity platform in Europe and the US.
Handwave transforms your palm into a secure, contactless payment and identity tool—no need for cards, phones, apps, or facial scans, just a simple gesture.
The company replaces traditional payment and identity verification methods with a palm scan using proprietary technology that allows users to onboard themselves by scanning their palm with their phone camera, linking payment and loyalty cards, and storing identity credentials in a digital wallet.
Once registered, users can simply hold their palm over a reader to pay, activate loyalty, or verify their age without apps, phones, or wallets. It doesn’t track movements like facial recognition and is harder to spoof than fingerprints.
Handwave utilizes surface line and subdermal vein imaging to create a unique, encrypted ID controlled solely by users, offering dual-factor authentication for top security.
“We’re building the next evolution in everyday identity and payment experiences,” says Jānis Stirna, Handwave co-founder.
“The checkout process in stores is often cumbersome. Handwave streamlines this to a single gesture. It’s not just a tech innovation but a solution to a widespread problem for customers and merchants.”
Handwave targets three main customer groups:
– Consumers wanting faster, seamless in-store checkout without juggling loyalty cards or devices.
– Retailers aiming to reduce checkout friction, enhance customer experience, and integrate services like age verification and loyalty programs without costly hardware upgrades.
– Acquirers, financial institutions, and payment operators through strategic integrations.
The funding round is led by Practica Capital, with FirstPick, Outlast Fund, and Inovo.vc participating, and will support product development, regulatory certifications, and retail pilots.
“Handwave demonstrates bold, intuitive technology meeting today’s digital needs,” said Arvydas Blože, Partner at Practica Capital.
To date, Handwave has raised $5 million, including a $780,000 angel investment, as it prepares for market pilots, enhances its biometric infrastructure, and expands partnerships across the Baltics and beyond.