Worldwide Cost Id (iPiD), a Singapore-based fintech that not too long ago joined Visa’s 2024 Accelerator Programme, has raised US$5.3 million in a Pre-Collection A funding spherical.
The spherical, led by Monk’s Hill Ventures, additionally noticed participation from Quona Capital, QED Traders, and present backers Jungle Ventures, 1982 Ventures, Saison Capital, and Decision Ventures.
Based in 2021 by former Swift executives, iPiD affords superior payee verification and identification options aimed toward enhancing world cost safety.
The brand new funds might be used to develop merchandise that stop payment-related fraud and to broaden in strategic markets, particularly in Asia.
Moreover, the funding will assist the rollout of iPiD’s options in Europe, serving to monetary establishments adjust to the upcoming Verification of Payee regulation by 2025.
Damien Dugauquier
Damien Dugauquier, CEO and Founding father of iPiD, stated,
“I’m proud to see the assist of outstanding and influential traders like Monk’s Hill Ventures, Quona Capital and QED Traders. This funding empowers us to sort out the urgent challenges within the cost business—enhancing safety and simplifying compliance.
By advancing our validation applied sciences, we’re not simply responding to regulatory calls for; we’re actively enhancing belief and effectivity in world cost ecosystems which can be more and more focused by fraudsters.”
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