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IrisGuard, the Iris Recognition Payment Technology Company, has Closed its Latest Funding Round With Goldman SachsLONDON, November 14, 2017 /PRNewswire/ -- IrisGuard, the UK-based pioneer in Iris Recognition Technology (IRT) payment solutions, today announced an investment from Goldman Sachs' Merchant Banking Division. Terms of the transaction were not disclosed. IrisGuard was founded in 2001 by its current CEO Imad Malhas and Rudain and Karim Kawar. IrisGuard serves millions of unbanked customers through its innovative EyePay® Platform, used by the United Nations and government aid agencies around the world. These programs rely on IrisGuard for the delivery of financial aid, by providing beneficiaries with cash based transfers and other assistance using iris recognition. IrisGuard's ground-breaking technology is specially suited to individuals with no bank accounts, such as migrant workers, displaced persons, refugees, natural disaster victims, and social welfare recipients. IrisGuard allows such individuals to access cash withdrawals, food vouchers, bank wires and money transfers using solely their eyes for identity verification and ensuring a fully secure transaction. These solutions significantly reduce levels of fraud, making sure humanitarian aid reaches its intended recipient. The EyePay® Platform is also blockchain-ready, with IrisGuard working in partnership with the United Nations to enable goods to be purchased using iris recognition and settled directly on the blockchain. This project is the largest private fork of the Ethereum blockchain implementation to date for humnitarian assistance. Authenticating the last mile is achieved through an iris recognition system designed by IrisGuard, where the eye becomes the key that cannot be lost, stolen, forged, copied, or forgotten. "IrisGuard has established itself as a leading player in iris recognition, with differentiated technology, a unique approach to payment solutions and an unmatched track record of service, including to clients such as the United Nations. Goldman Sachs is excited to partner with IrisGuard to support the company in its next stage of growth and development." said Anthony Arnold, a Managing Director at Goldman Sachs. "We are very excited about the investment from Goldman Sachs, with their relevant experience in innovative and leading FinTech companies. This is also a tribute to IrisGuard's pioneering EyePay® Platform and our strong growth prospects. The investment is well timed as IrisGuard expands its merchant network services into new territories around the world." commented About IrisGuard Inc. About Goldman Sachs Merchant Banking Division Contact Information: |