Latvian fintech startup Handwave has secured $4.2 million in seed funding to launch its palm-based payment and identity platform in Europe and the US.
The funding round is led by Practica Capital and supported by FirstPick, Outlast Fund, and Inovo.vc. These funds will be directed towards product development, regulatory certifications, and live retail pilots.
Handwave allows users to scan their palm using their phone camera, linking payment and loyalty cards, as well as identity credentials, to a secure digital wallet. Once registered, users simply hold their palm over a reader to make payments, activate loyalty programs, or verify their age.
Co-founder Jānis Stirna commented: “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 for restricted items. It’s often slow and frustrating. Handwave simplifies all of that with a single gesture.”
To date, Handwave has raised a total of $5 million, which includes an earlier $780,000 angel investment. The company is gearing up for market pilots with selected merchants across the Baltics.