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Digital Identity, Security & Online Fraud

Authentication startup Hypr receives investment from Mastercard

Thursday 7 December 2017 | 11:03 AM CET

Hypr, a US-based authentication solution provider, has received a sizable investment from Mastercard to expand its technology to Mastercard’s ecosystem.

In October 2017, the startup received an additional USD 2 million on a Series A funding. With the current round of funding, Hypr’s total funding is at USD 14 million. Other investors include RRE, RTP, Boldstart and Mesh Ventures.

The company intends to expand its partnerships with major banks, financial institutions, mobile payment and insurance companies. The first area Hypr will focus is mobile payments and then it will gradually expand into other online banking features, merchant services and various IoT initiatives.

Established in 2014, Hypr offers decentralized authentication solutions to mobile payment companies, financial institutions, banks, insurance companies. It provides technology for consumer data to be stored on the consumer’s devices as opposed to a centralized data repository. Thus, the consumer has to authenticate access to that data, and the authentication process can be in the form of biometrics, PINs, passwords, or other methods.

More: Link
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