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Amwal Raises $2.5 Million Pre-Seed Financing Round for Multi-Device Authentication Token-Based Financial Technology Solution

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On March 2, Amwal, a financial technology company based on multi-device authentication token, announced the completion of a pre-seed round of financing of US $…

Amwal Raises $2.5 Million Pre-Seed Financing Round for Multi-Device Authentication Token-Based Financial Technology Solution

On March 2, Amwal, a financial technology company based on multi-device authentication token, announced the completion of a pre-seed round of financing of US $2.5 million, with Shorooq Partners, Outliers Venture Capital and others participating. Amwal hopes to integrate the functions of device identification, fraud prevention and payment token into the independent application program interface (API) to provide an encrypted biometric settlement solution using multi-device authentication token.

Amwal, a financial technology company, completed the pre-seed round financing of US $2.5 million

Interpretation of the news:


Amwal has raised $2.5 million in a pre-seed financing round for its financial technology solution based on multi-device authentication token, according to an announcement made on March 2. The funding was led by Shorooq Partners and Outliers Venture Capital, with other participants also providing support. Amwal’s aim is to integrate device identification, fraud prevention and payment token functions into an independent application program interface (API), which will offer an encrypted biometric settlement solution utilizing multi-device authentication token.

This solution intends to provide secure transactions without the need for users to enter any passwords, reducing the risk of fraud and identity theft. By creating an encrypted biometric solution, Amwal seeks to improve the financial technology landscape by adding a crucial layer of security to payment services. Multi-device authentication tokens offer several benefits, such as increased security, ease of use and flexibility, which can speed up transaction processing time, making this type of technology particularly suitable to financial technology solutions.

Amwal’s financial technology solution, therefore, promises to be a significant addition to the market, offering secure and reliable payment services using multi-device authentication tokens, combined with device identification and fraud prevention solutions, all integrated into an independent API. The integration of these services should streamline payment services by consolidating multiple processes and reducing the time it takes to complete transactions.

The pre-seed financing round provides Amwal with capital to build out its platform, further develop its technology and bring its biometric settlement solution closer to launch. With the backing of firms such as Shorooq Partners and Outliers Venture Capital, Amwal has a solid foundation to build upon and attract further investors as it continues to grow.

In conclusion, by raising $2.5 million in pre-seed financing, Amwal has taken a step towards establishing itself as a significant player in the financial technology sector. While the technology is still in development, the integration of payment solutions, device identification and fraud prevention into an encrypted API-based platform, using multi-device authentication tokens, should provide a secure and reliable payment platform for users.

Keyword 1: Multi-device authentication token
Keyword 2: Financial technology
Keyword 3: Biometric settlement solution

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