Having secured sufficient seed funding, Handwave prepares to pilot its palm-based payments and identity platform in Europe and the US.
Riga-based biometric startup Handwave has secured €3.6 million (about $4.2 million) in a Seed funding round to launch its palm-based payment and identification platform.
The round, led by Practica Capital with participation from FirstPick, Outlast Fund, and Inovo.vc, will support the Latvian startup’s product development, regulatory approvals, and live retail pilots. With €4.3 million raised to date, including an earlier €682k angel investment, Handwave is preparing market pilots and expanding industry partnerships across the Baltics and internationally.
Founded in 2021, Handwave uses proprietary palm-scanning technology to replace cards, phones, and facial recognition with a single gesture. Users can securely link payment methods, loyalty programs, and ID credentials to a digital wallet, enabling instant checkout, age verification, and loyalty activation without devices or apps. The innovative biometric user identification system combines surface and subdermal vein imaging for enhanced security and two-factor authentication.
The platform targets consumers seeking faster checkout, merchants aiming to reduce friction and integrate compliance features, and financial institutions looking for seamless, secure payment solutions. Retailers can integrate the service without major hardware upgrades, while benefiting from improved throughput and customer engagement.
Previously, similar payment authorization systems were introduced by WeChat and Amazon, in a bid to make checkout technology as seamless and invisible as possible.
