Global: Latvian Fintech Handwave Secures $4.2M to Advance Palm-Based Payment Technology

Latvian fintech startup Handwave has raised $4.2 million in a new funding round aimed at scaling its biometric payment platform that allows users to pay and verify identity with a wave of their palm.

The round was led by Practica Capital, with participation from FirstPick, Outlast Fund, and Inovo.vc. The funds will support product development, regulatory certifications, and live pilot deployments in retail environments across the Baltic region.

Handwave’s core innovation lies in transforming the human palm into a secure, multi-functional wallet. Using a standard smartphone camera, users scan their palm to enrol and link payment cards, loyalty programs, and ID credentials to a digital wallet. Once enrolled, transactions can be completed by simply hovering a hand over a compatible reader—eliminating the need for phones, cards, or PINs.

“The in-store checkout experience remains riddled with friction—digging through wallets, scanning QR codes, juggling apps and loyalty cards,” said Jānis Stirna, co-founder of Handwave. “We’ve reimagined this process to be seamless, private, and intuitive—using just your palm.”

The latest investment brings Handwave’s total funding to $5 million, following a previous $780,000 angel round. The company is now preparing to launch pilot programs with selected merchants across the Baltics, as it moves toward broader market validation.

Palm biometrics offer a unique value proposition in the fintech space, combining ease of use with enhanced privacy. Unlike facial recognition or fingerprint scanning, palm vein authentication is considered more secure and harder to replicate—making it a strong candidate for future-proof digital identity and payment systems.

Handwave is entering a fast-evolving space as global demand grows for frictionless, biometric-first retail solutions, particularly in sectors such as convenience retail, hospitality, and age-restricted product sales.

With its latest funding, Handwave joins a growing class of European fintechs betting on next-generation identity infrastructure to power a more secure and efficient digital economy.