Singapore-based fintech company International Payment Identity (iPiD) is the latest to join. Visa’s 2024 Accelerator Programraised $5.3 million in a pre-Series A funding round.
The round was led by Monk’s Hill Ventures, and also included participation from Quona Capital, QED Investors, and existing backers Jungle Ventures, 1982 Ventures, Saison Capital and Resolution Ventures.
It was founded in 2021 by former Swift executives. IPID We provide advanced payee verification and identification solutions designed to enhance global payment security.
The new funding will be used to further develop products to prevent payment-related fraud and to expand into strategic markets, particularly Asia.
Additionally, the funding will help roll out iPiD’s solutions across Europe and help financial institutions comply with upcoming regulations. Recipient Restriction Validation By 2025.
Damien Dugoukier
Damien Dugauquier, CEO and Founder of iPiD said:
“We are pleased to have support from prominent and influential investors such as Monk’s Hill Ventures, Quona Capital and QED Investors. This investment will help us address the payments industry’s most pressing challenges: strengthening security and simplifying compliance.”
By evolving our verification technology, we are not only meeting regulatory demands, but proactively increasing trust and efficiency in a global payments ecosystem that is increasingly being targeted by fraudsters.”
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