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IPID Raises $16M as Instant Payments Expose a Growing Global Blind Spot

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IPID Raises $16M as Instant Payments Expose a Growing Global Blind Spot

IPID, the payment intelligence company helping institutions know who they are paying, announced a $16 million Series A led by Foundation Capital, with participation from strategic investors Citi and HSBC. The round also includes existing investors QED Investors, Monk’s Hill Ventures and Quona Capital.

Digital payments have become faster and more seamless, but the information needed to evaluate them has not always kept pace. Institutions still do not always know who is receiving a payment or have enough information to assess risk before it is sent. The burden often falls on the sender to confirm the recipient, even when that sender may be the target of a scam. According to LSEG, Authorized Push Payment fraud alone is projected to cause $331 billion in global losses by 2027.

IPID is a leading global provider of bank account verification, supporting major financial institutions across more than 50 countries. It will soon expand its platform by applying its expertise in fragmented payment markets to U.S. payments and digital assets, giving institutions the intelligence to make the right decision before funds move.

“Every payment starts with a decision, but institutions are often making that decision with incomplete information,” said Damien Dugauquier, co-founder and CEO of IPID. “We started by solving bank account verification globally. We are now building the broader decision intelligence that institutions need before funds move – across countries, payment rails and forms of value. The future of payments will not be defined simply by moving money faster.



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