Fintech startup Sign2Pay received investment of 605.000 euro
EIT ICT Labs Business Development programme ‘Access to Finance’ accelerated an investment round for the Flemish-Dutch startup Sign2Pay. The investment of 605.000 euro has been done by business angels and the main investors are Arco van Nieuwland and Lucas Brentjens, respectively the founder and the former CEO of the Dutch company Exact Software. Another investors’ round has been planned in 2015 as well.
Sign2Pay is a startup in the EIT ICT Labs Business Acceleration programme that receives coaching, pitch training and access to finance support. They also participated in the EIT ICT labs’ Investors Dinner in Eindhoven at the High Tech Campus, last October. This investors round has been accelerated by the EIT ICT Labs Access to Finance programme through supporting the startup in becoming investment ready, setting up forecast finance modeling and KPI’s to go ahead with the right business angels.
Sign2Pay offers consumers a platform that gives consumers the opportunity to pay online with the use of a smartphone with touchscreen. The verification is one’ s own signature that you write on your touch screen. The amount will be transferred automatically from ones account. Imagine sitting on the couch ordering online on your ipad. Never get up to find a card reader! Complete the payment in the checkout of the merchant. Authenticated and validated with your personal signature. Easy & more secure! Sign2Pay has been founded in November 2013 by the entrepreneurs Nicolas Mertens, Nick Lloyd and Tom Schouteden.
Biometrical authentication: how does that work?
Sign2Pay’s digital platform analysed hundreds of data points in a single signature. In that sense the security level is equal to biometrical authentication and that means that it is much safer than passwords or pin codes. The best part of it all is that the technology does not require extra devices such as card readers, fingerprint pads or other biometric constructions. Nowadays Sign2 Pay caters more than 3.700 banks in 18 countries. Two months ago the founders were extremely proud that they could launch and present the Sign2pay innovation at the prestigious TechCrunch event in London.
Seed for further development
Already two months after the launch, Sign2Pay is getting calls from web shops for supporting the mobile application, daily. This is a logical development because the expectation is that the mobile use will increase and surpass the desktop use. In case this turning point is in sight, the company has to be up scaled to follow this trend.
Fulfilling merchant’s need
Sign2Pay launched a plug-in for small webshops, end of January 2015. This mobile solution is compatible with common used webshop-software such as Magento, WooCommerce and
Prestashop.
DESCRIPTION OF THE PRODUCTS / SERVICES
- High conversion Mobile Payments
- Gesture Authentication
- Asynchronous Fraud detection
- Recurring Payments
TECHNOLOGY USPs
- Biometric Gesture Authentication
- Cognitive prediction Fraud
