miiCard raises £1.6 million for US expansion

Online identity verification service miiCard has completed a second seed funding round. It has secured £1.6 million angel and venture capital from a mix of investment groups including New Wave Ventures, IQ Capital and Par Equity, to support its expansion into the US.

James Varga, miiCard CEO, comments: "Now, more than ever, we are seeing a huge amount of activity in the marketplace around online identity and trust. With miiCard we can create a level of trust that currently does not exist online, and dramatically change the way we transact on the internet. We’re delighted to have New Wave Ventures onboard to help drive our business forward. Along with our existing investors and board members, we have a fantastic team and a unique opportunity to change the way we interact online.”

This is the first time New Wave Ventures have invested in miiCard and the backing builds on an earlier funding round during which miiCard raised over half a million pounds from investors including IQ Capital and Par Equity. Tim Bullock, co-founder of New Wave Ventures, says: "As the internet plays a growing role in the way we interact with each other, especially when executing financial transactions, it becomes increasingly important to be able to prove who we are, and quickly and reliably establish who we are dealing with.”

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