Wultra, a cybersecurity startup focused on safeguarding financial transactions against emerging quantum computing threats, has announced a €3 million funding round. The investment, led by Tensor Ventures, Elevator Ventures, and J&T Ventures, will fuel the development of its post-quantum authentication technology and support its expansion into Western Europe and Southeast Asia.
The funding aims to bolster Wultra’s cutting-edge technology that provides banks and fintech with robust protection against quantum-enabled malware. Leveraging NIST-endorsed quantum-resistant cryptography, Wultra’s solutions offer passwordless, secure, and globally compliant digital authentication. These innovations align with stringent regulations, including PSD3/PSR1 and eIDAS 2.0, ensuring both security and regulatory adherence for financial institutions.
“Quantum computing poses a significant threat to current cryptographic systems, and we predict a ‘Q-day’ within the next five years, where traditional authentication will no longer suffice,” said Petr Dvořák, CEO and founder of Wultra. “This investment enables us to deliver next-generation solutions that empower financial institutions to future-proof their systems and maintain trust in their digital infrastructure.”
Wultra’s clientele includes prominent financial institutions such as Raiffeisen Bank International, Erste Digital, OTP Bank, and Global Payments. Its smartphone-based software authentication is the company’s core offering, while its recently launched hardware authenticator, Talisman, caters to corporate and premium banking needs. Manufactured entirely within the European Union, with final production in the Czech Republic, Talisman ensures compliance with new PSD3 regulations, which require alternative authentication methods beyond smartphones.
“The rapid adoption of digital banking in Western Europe and Southeast Asia presents a timely opportunity for Wultra to expand its footprint,” added Dvořák. “Our solutions address the urgent need for advanced security in these markets as financial institutions face the accelerating challenge of post-quantum threats.”
“Wultra is at the forefront of a critical innovation in cybersecurity,” said Martin Drdul, co-founder of Tensor Ventures. “Their technology addresses one of the most pressing concerns for bankers worldwide. What sets Wultra apart is their ability to deploy advanced solutions rapidly, showcasing Czech innovation on a global stage.”
The company’s emphasis on both innovation and compliance positions it as a leader in the race to protect digital banking infrastructure in a quantum future.
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