Former Swift Execs’ Fintech iPiD Raises US$5.3M in Pre-Series A

Former Swift Execs’ Fintech iPiD Raises US$5.3M in Pre-Series A

by June 5, 2024

International Payment Identity (iPiD), a Singapore-based fintech that recently joined Visa’s 2024 Accelerator Programme, has raised US$5.3 million in a Pre-Series A funding round.

The round, led by Monk’s Hill Ventures, also saw participation from Quona Capital, QED Investors, and existing backers Jungle Ventures, 1982 Ventures, Saison Capital, and Resolution Ventures.

Founded in 2021 by former Swift executives, iPiD offers advanced payee verification and identification solutions aimed at enhancing global payment security.

The new funds will be used to develop products that prevent payment-related fraud and to expand in strategic markets, especially in Asia.

Additionally, the funding will support the rollout of iPiD’s solutions in Europe, helping financial institutions comply with the upcoming Verification of Payee regulation by 2025.

Damien Dugauquier

Damien Dugauquier

Damien Dugauquier, CEO and Founder of iPiD, said,

“I am proud to see the support of prominent and influential investors like Monk’s Hill Ventures, Quona Capital and QED Investors. This investment empowers us to tackle the pressing challenges in the payment industry—enhancing security and simplifying compliance.

 

By advancing our validation technologies, we’re not just responding to regulatory demands; we’re actively enhancing trust and efficiency in global payment ecosystems that are increasingly targeted by fraudsters.”