MagicCube, a leader in software-based security for payments and device integrity, today announced $10 million in committed new funding to fuel expansion beyond tap-to-phone technology into biometrics, identity verification, and AI-driven device security. The round features strategic investment from Verifone, a major global payment solutions provider, alongside continued backing from existing investors Bold Capital, Mosaik Partners, ID Tech, and an undisclosed prominent EMEA-based investor to be revealed on second closing.
Quick Intel
Advancing Software-Based Trust for the Next Era
Founded in 2014 and based in Cupertino, California, MagicCube pioneered Software Defined Trust (SDT), a patented approach that creates a software Trusted Execution Environment (sTEE). This innovation brings enterprise-level security to commodity devices, protecting sensitive data and enabling secure processing without hardware dependencies. The technology supports scalable, cost-effective deployment for payments and beyond.
Expanding from Payments to Broader Digital Trust
MagicCube's i-Accept solution has established the company as a key enabler for acquirers and financial institutions, allowing merchants to accept contactless payments securely on standard mobile devices. This eliminates the need for dedicated terminals, reducing complexity and costs while maintaining compliance and global scalability. The new capital will drive advancements in biometrics and identity verification, positioning MagicCube to secure emerging digital interactions where trust is paramount.
"With this round and with Verifone joining as both an investor and partner, we are moving beyond payments into securing the next era of digital identity, IoT, and AI-driven computing," said Sam Shawki, CEO and co-founder of MagicCube. "Our mission is to make trusted environments available anywhere — from phones to cars to connected systems at the edge."
"Our mission is to give our partners, their merchants, and their ISVs peace of mind, knowing they are using the most advanced technology to secure the digital experiences they deliver to their end users—pure software with hardware‑grade security and global scalability," said Nancy Zayed, CTO and co‑founder of MagicCube. "This is the fastest path to delivering trusted digital services—not just for payment acceptance, but also for identity, biometrics, and AI‑driven edge security at global scale."
Strategic Partnership with Verifone
Verifone's investment and collaboration highlight the alignment between the two companies in advancing secure commerce. The partnership enhances Verifone's offerings by integrating MagicCube's software trust capabilities, enabling identity-verified experiences across diverse devices and channels.
"Our investment in MagicCube expands our ability to serve clients seeking secure, identity-verified commerce across new and emerging form factors. By integrating MagicCube's technology, Verifone can bring trusted innovation to every step of the digital commerce experience," said Prasanna Narayan, Executive Vice President and Head of Product at Verifone.
This funding round positions MagicCube to accelerate innovation in software-defined security, supporting the evolving needs of payments, identity, and AI at the edge while maintaining hardware-grade protection through software alone.
About MagicCube
MagicCube provides software-based isolation solutions that protect sensitive data and transactions everywhere. Its patented Software Defined Trust (SDT) platform is deployed globally by leading financial institutions enabling secure payment acceptance and trusted computing without hardware dependencies.
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