Handwave has recently received USD 4.2 million to expand its biometric software solutions across Europe and the United States.

This financial backing is anticipated to fuel accelerated product development, regulatory compliance efforts, live retail pilot tests, and enhancements in biometric technology. It will also facilitate growth in merchant and partner integrations within these regions.

The funding round was spearheaded by Practica Capital, an early-stage venture capital firm based in Lithuania that supports Baltic founders. Other participants included Vilnius-based VC firm FIRSTPICK, Outlast Fund, and Inovo.

Key Features of Handwave’s Platform

Handwave specializes in creating a palm-based biometric identity and payments platform. This innovative system enables users to make payments, verify their age, and activate loyalty rewards using just a hand gesture, without the need for smartphones, wallets, or cards.

The enrollment process involves scanning one’s hand via smartphone and linking payment methods and credentials to a secure digital wallet. At checkout, users can complete transactions simply by holding their hand over a reader. The technology also includes built-in liveness detection and two-factor biometric authentication, which helps ensure security while making the checkout process smoother.

Handwave’s platform is designed to integrate seamlessly with existing Point of Sale (POS) and Electronic Cash Registers (ECR) systems. This minimizes the hardware upgrades needed for businesses to adopt this technology. Beyond payments, it supports real-time age verification and loyalty integration, offering companies ways to reduce checkout friction, combat fraud, and enhance operational efficiency.