OSLO, NORWAY, BAGHDAD, IRAQ and BEIRUT, LEBANON – 17 MARCH 2022 – Zwipe, Al Mansour Bank and areeba have confirmed that they will pilot Biometric Payment Cards built on the Zwipe Pay platform in Iraq. This will be one of the earliest pilots of next generation contactless payment cards in the country.
Al Mansour Bank is a private bank with Qatar National Bank (QNB) as its majority owner. The bank was established in 2005 and today it has more than 10 branches across Iraq. The bank is always seeking innovative products to introduce to the Iraqi market.
Speaking on this development, Mr. Roger Abboud, Head of Retail, AI Mansour Bank said, “Post pandemic, we have seen strong demand for PIN-free and touch-less payment solutions as they are safer and much more secure. We are delighted to partner with Zwipe, a leading provider of biometric payment technologies and areeba, a respected leader in innovative payment services. Biometric Payment Cards will uplift our payment portfolio and enable us to deliver excellent service quality to our customers. We are now working with both partners to launch pilots in the coming months.”
Mr. Issam Adra, General Manager of areeba Iraq said: “We are excited to be part of Al Mansour Bank’s biometric payment cards initiative and confident to deliver a world-class experience and security to the bank’s customers. areeba has for a long-time pioneered payment innovations that uplift customer loyalty, create unique differentiation and strong business cases for banks. Biometric payment cards will be instrumental in continuing this effort.”
Ramzi Saboury, General Manager of Zwipe in the MENA Region added, “The banking sector in Iraq is demonstrating a great appetite for innovation. We are thrilled with our collaboration with Al Mansour Bank on biometric payment cards together with areeba, one of our key partners in the region.”
For further information please contact: André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
About Al Mansour Bank
Al Mansour Bank is a private bank with Qatar National Bank (QNB) as its majority owner. The bank was established in 2005 and today it has more than 10 branches across Iraq. The bank is always seeking innovative products to introduce to the Iraqi market.
For more information, visit www.mbi.iq
About areeba
areeba is an electronic payment technology company licensed by Visa and MasterCard and has an agreement with American Express & Discover. Established in 2017, areeba adopts the latest technologies and provides solutions and payment services to banks, governments and merchants to suit their aspirations and needs.
areeba offers services tailored to global requirements, from card issuance and management, non-contact payment solutions, contactless and mobile payment. It also provides merchants and governments with the latest e-commerce platform and point-of-sale machines that adopt the highest standards and safety systems. areeba operates a wide range of loyalty programs, including collecting points and miles, cashback programs, and providing consultancy services for the planning, design and development of electronic products and payment solutions.
For more information, visit www.areeba.com, or @areebalebanon on LinkedIn, Facebook or Instagram.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries & cultures to make convenience safe & secure. We are pioneering next-generation biometric card and wearables technology for both payment and physical & logical access control and ID solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
OSLO, NORWAY and TRIPOLI, LIBYA – 8th MARCH 2022 – Zwipe and Mediterranean Bank are pleased to confirm that they will pilot Biometric Payment Cards built on the Zwipe Pay platform, making it the first pilot of biometric payment cards in Libya.
Mediterranean Bank is a medium-sized bank in Libya, focusing on corporates, small and medium sized enterprises (SMEs) and entrepreneurs, with branches in all major Libyan cities like Benghazi, Tripoli and others. The bank is keen to pilot Zwipe’s disruptive “single silicon” biometric payment card platform and assess its impact on making payment experience seamless and more secure for consumers. Libya is a key emerging market in Africa that is seeking innovation in its payment ecosystem with the objective to minimize fraud, corruption and uplift user experience.
Speaking on this development, Mr. Ahmed Nafo, Chief Information Officer at Mediterranean Bank said, “We are very pleased to partner with Zwipe, a leading technology brand in biometric payment cards. We are especially proud to be the first bank in Libya to introduce this world-class innovation. We want to ensure that our customers are extremely well protected when using payment cards and enjoy a great user experience. Our collaboration with Zwipe is well timed and strongly complements our vision to be a customer centric bank. We are looking forward to launching the pilot in Q2 2022 as a step to deployment of the cards later in the year.”
As part of this collaboration, Zwipe will train key stakeholders in the bank on all aspects of issuing and managing biometric payment cards. These cards will be delivered by one of the Zwipe certified smart card manufacturers in the region.
Ramzi Saboury, General Manager of Zwipe in the MENA Region said, “We are excited to enter the Libyan market with Mediterranean Bank and help them to pilot their next generation payment cards. In close collaboration with our regional partners, we will be supporting the bank through all the stages of the pilot and launch, ensuring the best experience for the bank’s consumers.”
For further information please contact:
André Løvestam, CEO, +47 93 43 69 52 info@zwipe.com
About Mediterranean Bank
Mediterranean Bank is a medium-sized bank in Libya, focusing on corporates, small and medium sized enterprises (SMEs) and entrepreneurs, with branches in all major Libyan cities like Benghazi, Tripoli and others.
For more info contact the bank at info@meditbank.ly, Tel: +218 61 9082167
or visit www.meditbank.ly
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries & cultures to make convenience safe & secure. We are pioneering next-generation biometric card and wearables technology for both payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit www.zwipe.com
OSLO, NORWAY and MELBOURNE, AUSTRALIA – 2 March 2022 – Placard, Australia’s largest card manufacturer and the only one qualified by all major card schemes, has selected biometric fintech pioneer Zwipe as its technology partner in pursuing the global market opportunities for biometric payment cards and other security products.
Placard delivers more than 100 million cards each year for the most established brands in the financial, retail, identification, government, loyalty and hospitality sectors. Placard’s success over the past two decades is accredited to high-quality products and a deep understanding of how new technology and product innovations can benefit customers and societies at large. With the disruptive Zwipe Pay platform, Placard will be able to deliver highly advanced and secure biometric card products that are also exceedingly user-friendly.
“We are excited about the opportunity that this innovative technology represents. The biometric solution provided by Zwipe combines break-through technologies and is the ideal platform for the next generation of payment cards. We believe that highly secure touch-less payments and PIN-free cards create a very compelling proposition for consumers and that our collaboration with Zwipe will provide differentiation and meaningful commercial value to our customers”, said Tess Barone, General Manager Sales & Marketing, Placard.
As part of this agreement, Zwipe will provide biometric technology, technical services and go-to-market commercialization support to enable Placard to manufacture biometric cards. The partners will engage with issuers and other enterprises to run pilots from Q2 2022, followed by full commercial rollouts.
Commenting on this partnership, André Løvestam, CEO at Zwipe, said: “We are very pleased to announce our partnership with Placard, one of the most prominent card manufacturers in the Australasian region. There is a clear growing interest in biometric payment cards globally and Placard will be vital in accelerating the deployment of biometric payment cards to banks and consumers. Zwipe will be supporting Placard’s clients during their launch processes to ensure the best customer experience and successful commercialization.”
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About Placard
Placard is an Australian organization which has been established since 1987, and is Australia’s largest secure plastic card manufacturer. Placard is continuously expanding, providing comprehensive card programs to over 500 clients and producing upwards of 100 million cards per year. Placard provides end to end card solutions and has a reputation of meeting its commitments to its clients and consistently achieves service levels beyond its clients’ expectations.
Placard’s secure manufacturing and bureau facilities are Visa, MasterCard, China Union Pay and American Express accredited to the highest level.
Placard’s core competencies lie in the design, printing, manufacture, personalization and mailing of ISO Standard secure and non-secure plastic cards. With Bureau services encompassing the latest Visa and MasterCard EMV standards for embossing, manufacture of Dual Interface cards, magnetic stripe encoding, indent printing, thermal print duable flat graphics, high quality Drop on Demand personalization, laser printing processes and intelligent matching & mailing services.
For more information, please visit www.placard.com.au or call Tess Barone, General Manager, Sales & Marketing on +61 3 9722 5200.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit zwipe.com
For further information please contact:
André Løvestam, CEO, +47 934 36 952, info@zwipe.com
OSLO, NORWAY and DOHA, QATAR – 28 FEBRUARY 2022 - Zwipe has partnered with Qatar Fintech Hub to bring Zwipe Pay enabled next generation biometric payment cards in the market. With this technology, the partners will deliver the highest level of security and safety with world-class user experience in making in-store payments.
Founded by Qatar Development Bank (QDB), Qatar FinTech Hub supports the growth of the fintech industry in Qatar in collaboration with leading players in FinTech ecosystem in Qatar and tie ups with major FinTech hubs including the UK, Turkey, Australia and Singapore. There is a big focus on partnering with technology pioneers who will make a difference in the payments space and bring it to a new level of experience.
Ibrahim Abdulaziz Al Mannai, Executive Director – Advisory, Qatar Development Bank, said: “I am very happy to announce the collaboration with Zwipe and welcome them as a valued member at the Qatar Fintech Hub. Zwipe is one of the leading technology brands for biometric payment solutions. Our innovation programs have witnessed tremendous success since their launch, and we are extremely happy to incorporate biometrics now. This collaboration with greatly enrich our technology competency and help Qatar to become a regional hub of fintech solutions, catering to the needs of the global market.”
As part of this collaboration, both parties will join forces to drive education, awareness building and engagement on biometric payment solutions in Qatar enabling issuers to pilot and launch next generation payment experience.
Speaking on this collaboration, General Manager for Zwipe in the MENA region, Ramzi Saboury said, “We are honored to be partnering with Qatar Fintech Hub as we believe this collaboration will further accelerate the adoption of Zwipe Pay enabled biometric payment cards among fintechs, issuers, processors and consumers. Qatar is a core market for us in the MENA region and we are already engaging with issuers in the country to pilot Zwipe Pay and be amongst the first in MENA to deploy the next Gen biometric cards.”
About QFTH
Launched by Qatar Development Bank (QDB) in May 2018, with the support of Qatar Central Bank (QCB), Qatar FinTech Hub (QFTH) is part of QDB’s FinTech vision and ambitions.
QFTH is a global FinTech hub with the purpose to support the development of the FinTech industry in Qatar. It aims to facilitate collaboration among the participants and stakeholders of the FinTech ecosystem and develop local and global relationships that will advance the bank’s FinTech vision.
QFTH brings together talented entrepreneurs, investors, and enablers to develop disruptive technologies so that great visions become reality.
QFTH offers a globally interconnected cluster, which gathers a vibrant community of FinTech entrepreneurs, industry experts, regulators, and investors.
To offer the best global opportunities, expertise, and develop a collaborative FinTech ecosystem, QFTH has tied up with global FinTech hubs, financial institutions, universities, technology partners, industry experts and others.
QFTH holds considerable opportunities for economic diversification, one of the four pillars of the Qatar National Vision 2030 that seeks to “transform Qatar into an advanced society capable of achieving sustainable development” by 2030.
For further information please contact: André Løvestam, CEO, +47 934 36 952, info@zwipe.com
OSLO, NORWAY – 23 February 2022 – Zwipe AS today publishes its annual report 2021.
Highlights for 2021 include:
Financials
Significant events 2021
Significant events after the period
CEO comments
"2021 was a transformative year for Zwipe, preparing the ground for commercial success in 2022.
Our technology platform was upgraded to a cutting-edge, third-generation single silicon platform that provides best-in-class biometric performance at highly competitive cost levels. We prepared for submission of reference cards based on Zwipe Pay components to accredited laboratories for certification by both Visa and Mastercard. The submission has been made and, together with our biometric card manufacturing partners, the certification tests are proceeding according to plan. Based on this, and the core components in our Zwipe Pay platform being validated through Idemia’s certifications obtained in November 2021, we are confident we are closing in on certification as planned.
During 2021 we have also continued to build commercial momentum. We announced engagements with nine new smart card manufacturers and card personalization bureaus during the year, representing an annual volume above 250m payment cards. We also extended and expanded our partnership with TAG Systems, which delivers an additional 100+ million payment cards per annum. Each new partner and customer in our ecosystem contribute to increasing the value creation potential and reducing the risk for Zwipe and its stakeholders.
A great milestone for Zwipe in 2021 was the receipt of commercial orders from BCC, Inkript, and yet another card manufacturing customer for complete Zwipe Pay deliveries worth more than NOK 20m, to be delivered primarily in 2022.
As a complement to our "push" approach, targeting smart card manufacturers as our direct customers, we continued to broaden our go-to-market strategy with the "pull" approach. That means we are marketing the benefits of biometric cards to partners and indirect clients, such as financial institutions – our customers’ customers. This move has allowed us to accelerate awareness, create strong demand for our biometric payment option, take more control of our destiny, and significantly strengthen our strategic position and brand equity.
The results of these efforts started coming to fruition in 2021, when Zwipe announced commitments for 14 pilots with 11 new issuers, including a global Tier-1 bank that will pilot Zwipe Pay in three European markets. We also entered go-to-market and implementation partnerships with many payment processors and, most recently, a major US company that is one of the world’s largest payment services providers. Such partners enable us to leverage their long-term, trust-based relationships with hundreds of banks worldwide to further accelerate the deployment of biometric payment cards built on our platform. I often refer to this as “the Megaphone Effect”, which is fundamental to our pull strategy.
We have upgraded our sales-enabling services and tools to support these processes and our customers. For example, this has resulted in the launch of new services such as "Zwipe Experience" (pilot and launch program services) and Zwipe Insights (consumer research to gauge demand for biometric payments), to name a few. The ROI calculator for issuers, created together with industry experts, is another example. It demonstrated that, even without an additional card fee from consumers, Zwipe Pay could deliver a $22.4m annual net benefit for an average US issuer converting a portfolio of 1 million credit cards, 1 million debit cards, and 100,000 commercial cards to biometric cards.
As part of our end-to-end offering, ranging from leading technology to professional sales enablement, these kinds of services and initiatives make Zwipe stand out from the crowd, adding considerable value to customers.
In addition, Zwipe announced its first entry into adjacent sectors, starting with the launch of “Zwipe Access”, building on years of investments into our advanced biometric authentication technology platform designed to fulfil the highest criteria for security, scalability, and mass-volume implementation. At the same time, we announced collaborations with several leading companies in the security industry; notably HID Global, LeGrand, and Southco. This coalition will bring a highly advanced, cost-effective biometric authentication solution to market, fully capable of working with existing access control infrastructure.
We also raised NOK 104 million in a private placement directed towards one of the Nordic’s most respected investors, Erik Selin. This means that our shareholder base and finances have been significantly strengthened in 2021.
Adding to our confidence in our future outlook is the consistent evidence from numerous consumer surveys covering more than 2,500 cardholders from diverse markets around the world that cardholders want the touch-less and PIN-free experience with world-class security that is made possible by biometric payment cards. 56% said they were willing to pay to get a biometric card and 57% said they were willing to switch banks to get a biometric card. These findings, which are consistent with survey findings of industry peers and other analyst reports, suggest that launches of biometric cards will offer valuable differentiation to first-moving banks and trigger competitive reactions from others.
Like most other companies engaged in multinational development projects, Zwipe has, as mentioned before, been impacted by COVID-19 through added complexity and extended lead times. However, I have been impressed by the grit and determination of my team and technology partners, systematically overcoming hurdles and setbacks along the way.
I want to express my deep gratitude to the exceptional team of Zwipers for their unfailing efforts through this challenging pandemic which has taken its toll on everyone.
My sincere thanks also go out to all our customers, partners, and shareholders for supporting our journey and sharing our mission - Making Convenience Safe and Secure.
I am looking forward to 2022 with a lot of excitement due to the prospects ahead.” says CEO of Zwipe André Løvestam.
Please find the annual report here
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit zwipe.com
For more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
lars.kristian@zwipe.com
OSLO, NORWAY – 23 February 2022 – Zwipe AS today publishes its second half-year 2021 report.
Summary of financial development for the second half-year 2021:
Please find the second half-year report here
The annual report 2021 will be released through a separate stock exchange announcement shortly after this announcement.
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit zwipe.com
For more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
lars.kristian@zwipe.com
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo, Nasdaq First North Growth Market and the EU Market Abuse Regulation. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0)8528 00 399. The information was submitted for publication, through the agency of the contact person set out above, at 07:58 CET on 23 February 2022.
OSLO, NORWAY – 23 February 2022- The share capital increase of 384,000 new shares in Zwipe AS, as resolved by the board meeting of the company on 20 January 2022, has today been registered in the Norwegian Register of Business Enterprises. The new share capital is NOK 3,736,668.50, and the new number of shares and votes are 37,366,685.
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit zwipe.com
For more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
lars.kristian@zwipe.com
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Market Oslo and on Nasdaq First North Growth Market Stockholm. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out above, at 00:20 CET on 23 February 2022.
OSLO, NORWAY – 22 February 2022- The share capital increase of 384,000 new shares in Zwipe AS, as resolved by the board meeting of the company on 20 January 2022, has today been registered in the Norwegian Register of Business Enterprises. The new share capital is NOK 3,736,668.50, and the new number of shares and votes are 37,266,685.
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About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit zwipe.com
For more information, please contact:
Lars Kristian Solheim, CFO
+47 991 661 35
lars.kristian@zwipe.com
This is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Market Oslo and on Nasdaq First North Growth Market Stockholm. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se, +46 (0) 8528 00 399. The information was submitted for publication, through the agency of the contact person set out above, at 20:00 CET on 22 February 2022.
OSLO, NORWAY and DELHI, INDIA – 21 February 2022 – sKarn RoboticS, a high-tech company providing security and privacy solutions to businesses, consumers, and the government sector, is strengthening its solution portfolio with biometric access control and co-branded biometric payment cards built on Zwipe’s technology. Headquartered in Oslo with a global presence, Zwipe is pioneering the deployment of the next generation biometric payment and access control cards globally.
Founded in 2019, sKarn RoboticS is one of the key contributors to the ‘Self Reliance’ initiative of the Indian government. The company is investing heavily in building ultra-secure digital products and services ecosystems for end-users and businesses. Its WeCript portfolio delivers high-grade security and privacy controls for remote communication, secure searching, browsing, SaaS and e-commerce. Right to privacy, right to freedom and right to information are the three core values at sKarn RoboticS. The company recently won “2021 Global Revolutionary Founder of the Year” and “2021 Global Innovative Product of the Year” from the Government of India.
Speaking on the collaboration, sKarn RoboticS’s Founder & COO, THE KARN, said, “Our mission is to provide highly secured digital services that significantly empower end-users with top rated privacy, security and digital experience. Zwipe’s extremely secure biometric payment and access control cards strongly complement our core values and fit perfectly in the WeCript Ecosystem, our solution portfolio. From Q3 2022 or before, we aim to launch pilots for our B2C and B2B customers with a few thousand biometric access control and payment cards and expect a rapid scale-up thereafter. Biometric cards will create meaningful value for all our customers.”
sKarn RoboticS will take deliveries from selected manufacturers of biometric cards in Zwipe’s global ecosystem with focus on India and key growth markets.
Commenting on this development, André Løvestam, Chief Executive Officer at Zwipe, said: “It is great to see an ambitious and fast-moving high-tech security solution provider such as sKarn RoboticS, with its WeCript Ecosystem, recognize the value of biometric cards for its customers. Both organizations share the passion to deliver enhanced security, privacy and convenience to our direct customers and end customers. We are very much looking forward to our collaboration with sKarn RoboticS and their customers”.
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About sKarn RoboticS
Founded in 2019 by THE KARN, sKarn RoboticS is an Indian tech start-up company, govt. accredited and recognized by DPIIT as start-up India. Carrying forward the Indian government's initiative, sKarn RoboticS is working on prioritizing the significance of building a safe and secure internet ecosystem for the users and businesses. Its private and secure product line named "WeCript Ecosystem'' is a product of the visionary thinking of the founder of sKarn RoboticS, THE KARN about making India and world self-reliant. The company aims to ensure data protection and privacy for users, serving right and relevant results across the web through WeCript Ecosystem.
Core Values of sKarn/Wecript Ecosystem:
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit zwipe.com
For further information please contact: André Løvestam, CEO, +47 934 36 952, info@zwipe.com
Commenting on the capital raise 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 highlights
Financial history
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.
Offering highlights
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:
(i) The company obtaining admission to trading on Merkur Market,
(ii) Approval of the offering by an extraordinary general meeting expected to be held on or about 18 January 2019,
(iii) The company resolving to consummate the offering and allocate the offer shares, and
(iv) Registration of the share capital increase in the company pertaining to the offering with the Norwegian Register of Business Enterprises.
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.
Media Contact for Zwipe: Ado Fazlic, VP Marketing, +47 930 44 040, ado@zwipe.com
Important notice
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.
About Zwipe
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.
For more information, visit: www.zwipe.com
OSLO, NORWAY – 15 June 2016– Zwipe, a global leader in biometric identification technologies, today announced the launch of Zwipe Access 2.0. The updated access control product has several key enhancements such as faster authentication, enhanced image and capture capabilities, and reduced false rejection rates. Zwipe Access 2.0 is being launched at IFSEC in London.
“The enhanced features were developed based on market research, customer feedback and industry advancements,” said Bob Fee, Director of Sales, North America.
The Zwipe Access biometric card is compatible with all popular proximity and smart card readers, including those from HID, Allegion and Farpointe. The on-card 3D capacitive fingerprint scanner both captures and matches on the card; enabling users to maintain the security of their own biometric data. At no time is biometric data communicated to any reader, hard drive or external database; giving peace of mind to end-users and card issuers alike.
Zwipe Access cards can be issued to key staff and personnel, or more specifically for certain high-security areas such as server rooms and pharmacies, providing the enhanced security benefits of 2-factor biometric authentication without the need to change existing access control system software or readers. The card can be integrated into a Physical or Logical Access Control system in the same way that present 125kHz Proximity, iCLASS, LEGIC or Mifare cards are incorporated. Through products such as Zwipe Access©, Zwipe ID© and Zwipe Payment©, Zwipe continues to be the industry leader in innovative biometric identification solutions.
