Polish fintech PayEye raises over $130k to promote its brand on foreign markets

Wroclaw-based startup PayEye has received more than $130,000 from the Polish Agency for Enterprise Development in the frames of “Go to Brand” competition, MamStartup reports.

Founded in 2019, PayEye introduces the complete payment system based on payment acceptance and user identification using iris biometrics. As the startup claims, it is the first company in the world, which introduces such a solution commercially. PayEye ecosystem consists of POS terminals, an electronic wallet for users, algorithms converting the iris into a biometric pattern. The startup will also develop solutions for ATMs and e-commerce in the nearest future.

PayEye is planning to invest the proceeds into promoting its brand and expanding the footprint in other European countries, the US, the United Arab Emirates and Singapore. The choice of markets is motivated by a huge demand for services related to modern methods of cashless payments there.