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Digital Identity, Security & Online Fraud

UK startup PixelPin raises GBP 1.5 mln to upgrade authentication services

Thursday 11 April 2019 | 02:45 PM CET

UK startup PixelPin has announced it has closed a GBP 1.5 million pre-series A funding round to reach out to new customers and develop its authentication services.

The round was led by SBI Investment, a subsidiary of SBI Holdings, which is a major internet financial group in Japan known as the formerly SoftBank Investment. SBI Investment invested GBP 1 million from the SBI AI & Blockchain Fund. An additional investment of GBP 500k from existing Angel investors completed the round, bringing it to GBP 1.5 million in total.

FIDO-certified PixelPin will use the new funds to target new customers in the finance and retail sectors and support continued product development. In addition, the funding is being used to establish new offices in Tokyo to act as a base for the company’s expansion into Japan and the wider Asian market.

PixelPin’s cloud-based platform, hosted on Microsoft Azure, replaces passwords and PINs for secure means of logging into their online accounts for banking, shopping and more. Instead of remembering a password or PIN, users can select a picture and four specific points on that picture that must be selected in sequence to log in to their online accounts.

This funding round brings PixelPin’s total funding to date to USD 4.5 million which has facilitated expansion internationally, with partnerships across Asia, Europe and the Americas. This latest funding deal was brokered by PixelPin’s legal partners, Osborne Clarke.

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