OSLO, NORWAY – 01 APRIL 2019 – Biometric technology company Zwipe is pleased to announce the appointment of Dr. Robert Mueller as its Chief Technology Officer, effective today.
Dr. Mueller joins Zwipe with an impressive track record of over 20 years in senior technical development positions focusing on biometrics and smart card technology at leading companies such as Siemens, Giesecke+Devrient and BMW. His most recent role was serving as Chief Technology Officer at Next Biometrics.
At Zwipe, Dr. Mueller will lead Zwipe’s technical vision and development to ensure the company’s commercialization and long-term success. With this appointment, Zwipe will establish a European tech hub, which will complement the company’s existing research and development center in Colorado Springs, USA. Based out of Munich, Germany, the new hub will add further expertise to Zwipe on biometrics, algorithms, payment card integration, enrolment solutions and product management.
Commenting on this strong addition to the Zwipe team, CEO of Zwipe André Løvestam said “Robert brings a wealth of experience and knowledge and will be instrumental in ensuring the successful delivery of our technology platform to our expanding global customer base.”
OSLO, NORWAY - MARCH 12, 2019 - The board of directors of Zwipe AS calls for an extraordinary general meeting to be held at the premises of Advokatfirmaet Simonsen Vogt Wiig AS, Filipstad Brygge 1, 0252 Oslo, Norway on 11 April 2019 at 13:00 CET. Enclosed you will find the notice of the extraordinary general meeting.
The purpose of the extraordinary general meeting is to vote on:
Notice of attendance, in person or by proxy, shall be given no later than 10 April 2019 at 16:00 CET. Shareholders are encouraged to register this electronically through the company’s website www.zwipe.com or through VPS Investor Services (where pin code and reference number is not needed). Alternatively, the attached form may be sent by e-mail to email@example.com, or regular post to DNB Bank ASA, Verdipapirservice, NO-0021 Oslo.
For more information, please contact:
Lisbeth Breum, CFO
+47 932 28 126
To subscribe or unsubscribe to notification of Zwipe news, please visit the link here
OSLO, NORWAY - MARCH 12, 2019 - Zwipe AS today publishes its annual report 2018. To view or download the report please visit the link here.
The general meeting of Zwipe AS will be held Tuesday, 14 May 2019 at 13:00 CET.
For more information, please contact:
Lisbeth Breum, CFO
+47 932 28 126
To subscribe or unsubscribe to notification of Zwipe news, please visit the link here
OSLO, NORWAY – MARCH 11, 2019 – Zwipe's CEO André Løvestam sat down to share some updates at Zwipe and to talk about the company's role in the growing biometric payment marketplace.
OSLO, NORWAY – FEBRUARY 27, 2019 – Biometric technology company Zwipe has selected Fingerprint Cards’ T-Shape sensor for use in the company’s latest generation offering to be submitted for certification as part of Zwipe’s commercialization efforts for biometric payment cards. The selection is based on the sensor’s performance and scalability in mass volume production.
The selection also highlights Zwipe’s first patent* describing a method of manufacturing a smartcard with an on-board biometric sensor, where first a card body is formed having a circuit embedded within it, and then a cavity is formed in the card body to expose contacts on the circuit to connect to the biometric sensor. In the card manufacturing industry this production method is commonly referred to as post-placement, enabling industrialized manufacturing techniques such as hot lamination of plastic cards without damaging the sensor.
The T-Shape sensor is specifically designed to utilize this post-placement production method as it is the most efficient means of mass producing biometric smart cards. It is expected that, over time, a significant portion of biometric smart cards will be manufactured in this method. As previously communicated, fingerprint sensor suppliers are expected to sell sensors made for post-placement directly to the card producers as they will not be fixed to the card inlay before lamination.
The patent has been granted by the European Patent Office (EPO), as well as in the United States, China, South Korea and Australia. The patent was challenged in the EPO by multiple industrial groups. As a result, the patent is currently in an appeal process which is expected to take a minimum of two years if not longer to complete and finalize. During this period the rights granted under the EPO patent are upheld for the patent holder until a final decision is rendered.
Speaking on the selection André Løvestam, CEO of Zwipe, said “we have a long-standing partnership with Fingerprint Cards and have chosen the T-Shape sensor because it gives our solution the quickest route to market, helping Zwipe offer a mass-market ready solution while leveraging our strong position in the value chain as evidenced by our patent portfolio.”
OSLO, NORWAY – 28 JANUARY 2019 – Biometric technology company Zwipe today marks the first day of trading of its shares on Oslo Stock Exchange’s Merkur Market under the ticker symbol ZWIPE-ME. The event follows a recent NOK 120 million (USD 14 million) capital raise, conducted to strengthen the company’s financial position and fund the further development and commercialisation of the company's technology.
At the opening of trade this morning at 09:00 CET, CEO André Løvestam, joined by the Zwipe management team and board of directors, will ring the opening bell at the Oslo Stock Exchange, marking a significant milestone in the history of the company.
“On a mission of Making Convenience Secure, Zwipe is positioned at the forefront of a global shift towards contactless payment. Partnering with global industry leaders, we are on the cusp of making Zwipe-enabled biometric payment cards available to consumers worldwide. Through the successful capital raise and today’s admission to trading on Merkur Market we have strengthened our balance sheet and broadened our shareholder base, both important factors supporting us as we continue to pursue our growth strategy,” Zwipe CEO, André Løvestam, said commenting on the first day of trading.
A total of 15,946,205 shares with a face value of NOK 20.00 will today be admitted to trading on Merkur Market. A total of 6,000,000 new ordinary shares were issued following Zwipe’s recent share offering, raising NOK 120 million (USD 14 million) in new equity capital for the company. In addition, a convertible loan of NOK 9.4 million (USD 1.1 million) including accrued interest was converted to a total of 520,543 new ordinary shares in the company. Prior to the share offering and loan conversion, Zwipe had 9,425,662 ordinary shares outstanding.
A copy of the prospectus can be found through the following link here. Hard copies are available, free of charge, at Zwipe’s offices. Address: Rådhusgata 24, 0151 Oslo, Norway.
Investor Relations: Lisbeth Breum, CFO, +47 932 28 126, firstname.lastname@example.org
OSLO, NORWAY – 21 JANUARY 2019 – Zwipe announces that it has successfully raised NOK 120 million (USD 14 million) in the offering of new shares ahead of a planned admission to trading on Merkur Market, Oslo Børs. The offering was substantially over-subscribed attracting strong interest from institutional and professional investors as well as the general public in Norway and Sweden.
The offering and outcome in brief
Commenting on the capital raise André Løvestam, CEO of Zwipe, said “Zwipe is at the forefront of a global shift towards more secure and convenient contactless payments and the market is primed for growth. We are confident that our industry leading technology and partnerships will secure a strong market position both in the short and long-term. Thanks to the new funding received, we can intensify our efforts to support our customers and partners in Making Convenience Secure.”
Commenting on the capital raise Jörgen Lantto, Chairman of the Board of Zwipe, said “the capital raise and subsequent admission to trading at Merkur Market are important milestones for Zwipe, as the company seeks to capitalize on its strong position in the biometric payment marketplace and as the payment industry moves towards bringing biometric payment cards to consumers. We would like to thank our existing shareholders for their continued support and welcome all new shareholders to Zwipe.”
Carnegie acted as Manager and Joint Bookrunner together with Redeye in connection with the offering. In addition, Nordnet acted as Selling Agent. Advokatfirmaet Simonsen Vogt Wiig AS acted as legal advisor to the company and Advokatfirmaet Wiersholm AS acted as legal advisor to Carnegie.
OSLO, NORWAY – 04 JANUARY 2019 - Biometric technology company Zwipe today announces its plan to raise up to NOK 120 million (USD 13.7million) and intention to apply for admission to trading on Oslo Børs’ multilateral trading facility (MTF) Merkur Market. Commenting on the capital raising and Merkur Market process, André Løvestam, CEO of Zwipe, said:
“These are truly exciting times. Biometric payment cards enabled with Zwipe technology offer consumers the convenience of contactless and the security and peace of mind of biometrics. With a mission of Making Convenience Secure, Zwipe is the first mover and technology leader in our field. We are partnering with global leaders and are well protected with a strong IP portfolio. We are preparing for a commercial breakthrough for our biometric payment card solution in the second half of 2019 and accelerating growth in 2020 and beyond, both within biometric payment cards, wearables and other form factors and verticals. With a strengthened balance sheet and shareholder base, we will be well positioned to capture the opportunities ahead.”
Zwipe is pursuing a growth strategy and has since inception raised a total of NOK 241.3 million (USD 27.6 million) in equity, debt and grants. The capital has been invested in R&D, technology development, IP, organizational expansion, partnerships, operational expansion and other preparations for large-scale commercialisation. In addition, Zwipe was awarded a NOK 23 million (USD 2.6 million) grant from the European Commission’s Horizon 2020 programme in December 2018. The grant will support Zwipe’s commercial go-to-market ability and will be paid out in tranches over the next 24 months. Horizon 2020 is the largest European Union (EU) Research and Innovation program, aiming to bring innovations faster to the market.
The offering and subsequent admission to trading will contribute to strengthening Zwipe’s equity and financial position, including repayment of debt, and ensure sufficient funding of the company's planned commercialisation phase and further development of the company's technology. The offering will consist of two tranches and is expected to raise gross proceeds of up to NOK 120 million (USD 13.7 million) through the issuance of up to 6 million new ordinary shares at a fixed price of NOK 20.00 per share. The first tranche will be in the form of a private placement offered to large existing shareholders in the company and certain new investors in Norway and Sweden, who have pre-committed to subscribe for a total of 4.5 million shares in the amount of NOK 90 million (USD 10.3million). Among the investors having provided pre-commitments are member of the board of directors, Lars Windfeldt, who has pre-committed to subscribe for 10.3% of the offering, approximately NOK 12.4 million (USD 1.4million) given a NOK 120 million round. Other members of the board of directors have pre-committed to subscribe for a total of approximately NOK 4.1 million (USD 0.5 million), approximately 3.4% of the offering. The second tranche, in the amount of up to NOK 30 million (USD 3.4 million), will be in the form of a public offering of up to 1.5 million shares to retail investors. Existing shareholders in Zwipe who have not been allocated offer shares in the private placement will be offered to participate along with new retail investors in the Swedish and Norwegian markets. All primary insiders in the company have entered into a lock-up agreement with the company, and hence are subject to a lock-up period of six months following completion of the offering.
Preliminary timetable and settlement:
Start of application period: 10 January 2019 at 09:00 hours (CET)
End of application period: 17 January 2019 at 16:30 hours (CET) (may close earlier and on short notice)
Allocation: On or about 17 January 2019
Settlement: Expected on or about 22 January 2019
Delivery and first day of trading: Expected on or about 28 January 2019, not prior to the share capital is registered in the Norwegian Register of Business Enterprises and announced by the company
Note that the timetable is subject to any shortening or extension of the application period and to the conditions outlined below being satisfied.
Completion of the offering is conditional upon the following conditions being satisfied:
In addition, completion of the second tranche of 1.5 million shares to retail investors is conditional upon the approval of an EEA prospectus by the Financial Supervisory Authority of Norway (Finanstilsynet).
The offering is being managed by Carnegie AS and Redeye AB as Managers and Joint Bookrunners. In addition, Nordnet (Nordnet Bank AB in Sweden and Nordnet Bank NUF in Norway) is acting as alternative application office and receiving agent for applications for offer shares in the public offering from investors who are not existing shareholders of the company. Investors who are not existing shareholders and who wish to apply for offer shares in the public offering through Nordnet will have to apply for offer shares through their Nordnet accounts. Persons who are not customers of Nordnet will have to apply for an account in Nordnet in order to apply for offer shares in the public offering. Advokatfirmaet Simonsen Vogt Wiig AS is acting as the company's legal counsel in connection with the offering and admission to trading. Advokatfirmaet Wiersholm AS acts as legal advisor to Carnegie AS in connection with the offering.
The contents of this announcement have been prepared by, and are the sole responsibility of, the company. The company's financial advisors are acting exclusively for the company and no one else, and will not be responsible to anyone other than the company for providing the protections afforded to their respective clients, or for advice in relation to the transactions, the contents of this announcement or any of the matters referred to herein. The transactions and the distribution of this announcement and other information in connection with the transactions may be restricted by law in certain jurisdictions. The company assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about, and to observe, any such restrictions. This announcement may not be used for, or in connection with, and does not constitute, any offer of securities for sale in the United States or in any other jurisdiction. The transactions have not, and shall not, be made in any jurisdiction or in any circumstances in which such offer or solicitation would be unlawful. This announcement is not for distribution or publication, directly or indirectly, in or into any jurisdiction in which it is unlawful to make any such offer or solicitation to such person or where prior registration or approval is required for that purpose. No steps have been taken or will be taken relating to the transactions in any jurisdiction in which such steps would be required. Neither the publication and/nor delivery of this announcement shall under any circumstances imply that there has been no change in the affairs of the company or that the information contained herein is correct as of any date subsequent to the earlier of the date hereof and any earlier specified date with respect to such information. This announcement is not for publication or distribution, directly or indirectly, in the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The shares to be issued in the transactions have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to, or for the account of, U.S. persons (as such term is defined in Regulation S under the US Securities Act), except pursuant to an effective registration statement under, or an exemption from the registration requirements of, the US Securities Act. All offers and sales outside the United States will be made in reliance on Regulation S under the US Securities Act. There will be no public offer of securities in the United States. This announcement does not constitute an offering circular or prospectus in connection with an offering of securities of the company. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the investor material made available by the company only to qualified persons in certain jurisdictions where an offer may be made. This announcement does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for, any securities and cannot be relied on for any investment contract or decision. The offering is not being made into Australia, Canada, Hong Kong, the United States or Switzerland.
OSLO, NORWAY – 13 DECEMBER 2018 – Biometric technology company Zwipe is proud to announce that it has been awarded a EUR 2.3 million (NOK 23 million) grant from the European Commission as part of Horizon 2020. The grant will support Zwipe’s commercial go-to-market ability by funding its scale-up initiative "Generation NxT” and will be paid out in tranches over the next 24 months.
Horizon 2020 is the largest European Union (EU) Research and Innovation program with nearly EUR 80 billion of funding made available over a seven-year period from 2014 to 2020. It aims to facilitate European breakthroughs, discoveries and world-firsts by taking ideas from the lab to the market by promoting European innovation and competitiveness on a global scale.
More than 1850 companies across the European Economic Area applied for grants in this most recent application round, with only 3% of applicants receiving funding. Zwipe’s application and selection were rooted in its innovative approach to developing and launching the world’s first battery-less biometric payment card, designed to enable a more secure means of completing contactless transactions without requiring any changes to the existing payments infrastructure. The EU acknowledged the scale of this challenge and recognized the merit of Zwipe’s proprietary biometric and power harvesting technology platform to make convenience secure on cards, wearables and other form-factors deployed in the financial services industry. The grant will support Zwipe’s Generation NxT initiatives that include technological development, certification and commercialization of a proprietary application specific integrated circuit (ASIC) tailored for energy harvesting and power management, as well as efforts focused on cost reduction and supply-chain readiness to facilitate Zwipe’s scale-up and go-to-market capacity.
Zwipe’s biometric technology is currently being piloted by Banca Intesa Sanpaolo in Italy, the Bank of Cyprus and by 10 leading banks in five different countries across the Middle East with several more banks planning to commence pilots in the coming weeks with support from the world’s largest payment schemes.
Commenting on this major achievement, CEO of Zwipe, André Løvestam said “We are humble and grateful for this stamp of approval from the European Commission in recognition of the value our technology offers to our customers and stakeholders on a global level. We take this recognition as a confirmation that our technology can play a dynamic role supporting the goals of recent European directives, such as PSD2 and GDPR, in addressing the need for strong customer authentication, data protection and consumers’ right to privacy as biometrics becomes an integral part of everyday life.”
Zwipe is a technology solution provider that enables battery-less, ultra-low-power, self-contained biometric authentication solutions. Together with an ecosystem of partners including global brands within security, financial services and ID applications, Zwipe is “Making Convenience Secure™” for banks, merchants and consumers. Using advanced fingerprint recognition while protecting personal information, Zwipe’s solutions address the data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, Zwipe has spent the last 10 years developing its unique power harvesting technology platform in combination with security solutions based on international infrastructure standards. To learn more, visit www.zwipe.com
Media Contact for Zwipe: Ado Fazlic, VP Marketing, +47 930 44 040 email@example.com
OSLO, NORWAY 10 DECEMBER, 2018- Last week Zwipe attended Fintech Connect where we had a wonderful event, meeting with many of the largest banks in the UK, in addition to many rapidly growing challenger banks. The show was an excellent venue for us to showcase our innovative biometric payment cards as well as our at-home and in-branch enrolment solutions which were very well received by all stakeholders. In addition to this we were able to speak to over 100 delegates representing some of the most important players in the financial services industry who shared their views on contactless payment. The results, as seen below, show that many in the banking community, in one of the most mature contactless payment markets in the world, see the value of integrating biometric payment applications into their product portfolios.