Practica Capital invests in Latvian fintech authentication solutions provider Handwave

Lithuanian investment fund Practica Venture Capital III KŪB has invested EUR 2,4 million in Handwave, a Latvian biometrics and fintech company that specialises in developing user-friendly and secure authentication and payment systems through the use of palm-scan technology.

This funding is part of a larger seed investment round totalling EUR 3,65 million led by Practica Venture Capital III KŪB, alongside investors KŪB Firstpick Seed Fund, KŪB Firstpick Accel Fund, Outlast Fund and Inovo Fund III.

COBALT provided full legal support to Practica Venture Capital III KŪB, Handwave, and its existing shareholders throughout the investment process, including legal due diligence, drafting investment documents, and registering corporate changes in the target company.

The COBALT team was led by Partners Akvilė Bosaitė in Lithuania and Indriķis Liepa in Latvia, and included Specialist Counsel Elīna Ločmele, Senior Associates Marija Berdova and Agnese Gerharde, and Associate Vadims Zvicevičs.