# Handwave

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/handwave

- Industry: Financial Services
- Headquarters: Riga, Latvia
- Website: www.handwave.com/
- Total disclosed funding: $4.2M
- Latest round: Seed (Jul 1, 2025)
- Investors on record: 4

## About

Handwave, based in Latvia, specializes in biometric payment solutions, integrating innovative palm scanning technology with point-of-sale systems to enhance transaction efficiency and security for businesses and consumers alike.Founded in 2022 and headquartered in Riga, Latvia, Handwave provides biometric payment solutions utilizing palm scanning technology. In July 2025, Handwave raised EUR 3.6 million in seed funding led by new investor Practica Capital, with participation from other new investors FIRSTPICK, Inovo VC and Outlast Fund. Handwave specializes in biometric payment solutions, offering a seamless and innovative service that integrates palm scanning technology with point-of-sale (POS) systems. Their core product includes a palm scanning device that facilitates not only payment processing but also age verification and loyalty program activation through a single hand wave. This technology significantly simplifies the customer experience by eliminating the need for physical cards or identification documents, thus reducing wait times and enhancing service efficiency. The company targets a diverse clientele, including retailers and businesses that require secure and efficient transaction methods. Handwave's services are currently being introduced in various geographical markets, with a focus on regions that experience high foot traffic and require robust age verification protocols, such as North America and key European markets. Handwave's revenue model is built around direct partnerships with businesses, enabling them to integrate Handwave's services into their existing operations. The company generates revenue primarily through subscription arrangements, where clients pay a fee to use the palm scanning devices along with the associated software services. Each transaction processed via Handwave incurs a service fee while benefiting from a streamlined experience that encourages higher customer turnover and loyalty engagement. The pricing structure encompasses the cost of the palm scanning device, along with ongoing service charges, ensuring a continuous revenue stream from both retail and consumer interactions. As clients implement Handwave’s technology, they benefit from reduced operational costs and enhanced security, illustrating a mutually beneficial relationship that supports client retention and revenue growth. Additionally, Handwave is targeting expansion into North America and key European markets by mid-2024 to increase its footprint in areas with high customer engagement and robust age verification needs.The company will use the July 2025 funding to accelerate product development, secure regulatory approvals, initiate live retail pilot programs, advance its biometric technology and expand merchant and partner integrations across Europe and US.

## Funding rounds

- Seed, Jul 1, 2025, $4.2M — Practica Capital, Inovo VC, FIRSTPICK, Outlast Fund

## Investors

- Practica Capital (https://capitalatlas.ai/funds/practica-capital) — Seed
- Inovo VC (https://capitalatlas.ai/funds/inovo-vc) — Seed
- FIRSTPICK (https://capitalatlas.ai/funds/firstpick) — Seed
- Outlast Fund (https://capitalatlas.ai/funds/outlast-fund) — Seed