Latvian fintech startup Handwave has raised $4.2 million in seed funding to launch its palm-based payment and identity platform in Europe and the US.
The round includes backing from regional investors, led by Practica Capital, with support from FirstPick, Outlast Fund and Inovo.vc, and will fund product development, regulatory certifications, and live retail pilots.
Handwave enables customers to scan their palm using their phone camera, and link payment and loyalty cards, as well as identity credentials, to a secure digital wallet. Once enrolled, users hold their palm over a reader to pay, activate loyalty, or confirm their age.
Jānis Stirna, co-founder of Handwave, says: “The checkout process in physical stores is still full of friction—digging for a wallet, opening apps, scanning loyalty cards or QR codes, verifying age while buying age-restricted items. It’s slow, clunky, and often frustrating. Handwave simplifies all of that with a single gesture.”
To date, Handwave has raised $5 million in total funding, including an earlier $780,000 angel investment. The company is currently preparing for market pilots with selected merchants across the Baltics.