The company from Kiel, Germany, closes their first investment round successfully. With the High-Tech Gründerfonds (HTGF) and PAYONE founders Carl Frederic Zitscher and Jan Kanieß, Hanko wins experienced partners for innovative technology and growth. The capital will be used for further product development and the implementation of the go-to-market strategy.
For apps on smartphones and tablets, biometric authentication such as Touch ID and Face ID have been established for many years. In browsers, on websites, SaaS tools, and online shops, such an easy and secure way of authentication was technically not possible. But this is about to change.
“Hanko offers a technology that makes biometrics on websites usable. Our vision is to enable every online service to make the security of user accounts no longer dependent on passwords or complex 2-factor procedures. At the same time, the user experience will significantly improve.”, says Hanko founder Felix Magedanz.
Therefore, Hanko works with the open FIDO web standards developed by Apple, Microsoft, Google and Mozilla, among others. FIDO is an integral part of Android, iOS, Windows, and macOS as well as of all web browsers and can already be used on about 80% of all end user devices. Hanko is the first provider in Europe that has developed a certified FIDO server. Thus, the startup provides the necessary infrastructure for website operators to offer users secure and easy authentication with Touch ID & Co. Hanko puts the certified server at disposal via a well documented and accessible developer API in the cloud or on premise. Due to the high level of security, Hanko can even be used in the regulated banking environment and offers an unprecedented user experience there as well.
Both investors want to accelerate the development of Hanko with their participation and strong networks and are committed to ensuring that the startup grows into a central player in the identity and authentication market.
Axel Nitsch, principal at HTGF, on the background of the investment: ”Secure login and payment via Touch ID or Face ID should be the standard on any website - instead of insecure and hard-to-remember passwords. A necessary and overdue development. Since Hanko can be used everywhere and is based on open industry standards, the company is ideally placed to be one of the main drivers of this technology change.”
PAYONE founder and Business Angel Carl Frederic Zitscher adds: “Security and convenience are the major factors in the field of digital authentication. This leads to new standards and procedures for how users authenticate themselves digitally, which is passwordless on the basis of biometric features. For service providers, however, the complexity of the required implementation and security know-how increases rapidly. We see strong market potential for the Hanko.io solution and are pleased to actively support the team as investors.”