miiCard, a Edinburgh, UK.-based digital passport company, has closed its £550K first funding round and completed a management buyout.
Participants in the round, which was oversubscribed by 100% and completed within six weeks, include IQ Capital, angel syndicate Par Equity and the Scottish Investment Bank’s Scottish Seed Fund.
In conjunction with the transaction, Founder James Varga has been appointed as CEO.
Owned and managed by the individual, miiCard allows consumers to track, monitor and take control of their online identity in real-time. It is set to launch in beta before the 2011 Christmas retail season and will cost the consumer £1 a month and is charged to the vendor on a transactional basis.