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Startup Jumio Gets Funding From Facebook Co-Founder

Jumio, a startup that claims will revolutionize mobile payments, has received $6.5 million in funding from Facebook co-founder Eduardo Saverin along with a few other investors.

Daniel Mattes, the company CEO, founded the startup in 2010 and currently has a few products in development. Jumio claimed via a blog post that the product would launch soon.

“We are excited to work with Eduardo,” said Mattes in a press release. “It’s amazing how many luminaries are fascinated by our project. The way online and mobile payments are handled today are practically outdated. There is a lot of space for innovation, and our mission is to make online and mobile payments as simple and secure as a handshake.”

Given that the company has yet to launch, its hard to know for sure what they do. Their promotional video (see below) claims they will end cash as we know it. Perhaps its just a new form of credit card combined with a Square-like service. Who knows?? But apparently it caught the attention of Saverin which currently resides in Singapore.

Jumio The End of Cash from Jumio Inc. on Vimeo.

Photo Courtesy of Danny Choo