Ghost Pass
Face recognition payment solution that prevents personal privacy without storing biometric information on the server.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | N/A | Seed | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
Related Content
Established in November 2019 by CEO Sunkwan Lee, Ghost Pass is a South Korean fintech company that has developed a decentralized biometric authentication solution. The company is headquartered in Gwangju, with a corporate research institute in Seoul.
Ghost Pass addresses the security and privacy vulnerabilities of traditional server-based authentication systems. Its core technology, 'Decentralized Dualized Biometric Authentication' (DDBA), stores a user's biometric data, such as facial recognition information, directly and only on their personal smartphone. When a user needs to authenticate for a payment or access, the system performs a 1:1 comparison between the live biometric scan and the data stored on the user's device, enabling remote, hands-free authentication without the need for a central server. This on-device approach significantly reduces the risk of mass data breaches and can lower operational costs for businesses by up to tenfold compared to server-based methods.
The company's solutions cater to various applications, including physical security for residential and commercial buildings, payment authentication at kiosks, and identity verification. Ghost Pass has engaged in Proof of Concept (PoC) trials with companies like CoMax for smart door locks and NICE Information & Communication for payment solutions, targeting industries such as security, construction, finance, and retail. The technology has received recognition for its performance, achieving 99% accuracy in under 0.6 seconds in tests conducted by Korean certification authorities.
Since its founding, Ghost Pass has achieved several milestones, including receiving seed funding and subsequent Pre-A round investments from firms like the Korea Technology Finance Corporation (KIBO) and Oracle Venture Investment. The company holds over 75 global patents and has been lauded at international events, winning the CES 2025 Best of Innovation Award in the fintech category and a CES 2024 Innovation Award for Smart City technology.
Keywords: biometric authentication, decentralized identity, on-device AI, fintech security, facial recognition payment, access control, cybersecurity, mobile authentication, data privacy, secure payments, smart city technology, identity verification, DDBA, hands-free authentication, remote authentication, Korean startup, Gwangju, Sunkwan Lee