Insider Brief
- MagicCube raised $10 million in new funding with strategic participation from Verifone to expand beyond tap-to-phone payments into biometrics, identity verification, and AI-driven device security.
- The company’s Software Defined Trust platform delivers hardware-grade security through software, enabling secure computations on mobile and IoT devices without specialized chips.
- The new capital will fund R&D, strengthen AI security capabilities, and deepen integrations across global payments and digital identity ecosystems.
PRESS RELEASE — MagicCube, the leader in software-based security for payments and device integrity, announced that it has raised $10 million in committed new funding to accelerate its expansion beyond tap-to-phone technology and into emerging areas such as biometrics, identity verification, and AI-driven device security. The round includes new strategic participation from Verifone, one of the world’s leading payment solution providers, as well as continued support from existing investors Bold Capital, Mosaik Partners, and ID Tech, along with a major global investor based in EMEA that will be announced on second closing.
Founded in 2014 and headquartered in Cupertino, California, MagicCube delivers Software Defined Trust (SDT) — a breakthrough technology that brings hardware-grade protection to mobile devices through software alone. Its software Trusted Execution Environment (sTEE) allows smartphones, tablets, and IoT devices to perform secure computations and protect sensitive data without requiring 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.”
“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.”
Since launching its flagship product i-Accept®, which turns everyday mobile devices into compliant contactless payment terminals, MagicCube has become a trusted partner for major acquirers and financial institutions, including JPMorgan Chase, Global Payments, Fiserv, and Dojo by Paymentsense. The company’s infrastructure platform provides a flexible path for merchants and service providers to deploy secure, scalable payment acceptance solutions without the cost or complexity of new hardware.
Prasanna Narayan, Executive Vice President and Head of Product at Verifone, highlighted the strategic value of the 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.”
The new funding will be used to accelerate R&D in software-based trust technologies, further strengthen MagicCube’s AI security offerings, and deepen integrations within global payment and identity ecosystems.
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. For more information, visit www.magiccube.co.
