MagicCube, a leader in software-driven security for payments and device integrity, has secured $10 million in new funding to accelerate its growth beyond tap-to-phone technology. The company plans to expand into emerging areas such as biometrics, identity verification, and AI-powered device security. This round features strategic participation from Verifone, a global payments provider, while existing investors Bold Capital, Mosaik Partners, and ID Tech continue to support the company. Additionally, MagicCube will announce a major EMEA-based global investor at its second closing.
Founded in 2014 and based in Cupertino, California, MagicCube offers Software Defined Trust (SDT), a technology that delivers hardware-level protection purely through software. Its software Trusted Execution Environment (sTEE) enables smartphones, tablets, and IoT devices to process sensitive data securely without relying on specialized chips or hardware modules.
“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.”
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MagicCube has gained recognition for its flagship product, i-Accept, which converts everyday mobile devices into compliant contactless payment terminals. Over the years, the company has built trust with leading financial institutions and acquirers, including JPMorgan Chase, Global Payments, Fiserv, and Dojo by Paymentsense. Its platform allows merchants and service providers to adopt secure, scalable payment solutions without investing in new hardware.
“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.”
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Prasanna Narayan, Executive Vice President and Head of Product at Verifone, underlined the importance of this partnership:
“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.” MagicCube plans to use the new capital to advance R&D in software-based trust technologies, strengthen its AI security offerings, and deepen integrations with global payment and identity ecosystems. With these efforts, the company aims to make secure, software-defined trust accessible across devices, industries, and geographies.
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Source: PRNewswire
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