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IPID Raises US$16 Million for US, Europe and Digital Asset Expansion

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IPID Raises US$16 Million for US, Europe and Digital Asset Expansion

Payment intelligence firm IPID has secured US$16 million in Series A funding led by Foundation Capital.

Citi and HSBC participated as strategic investors, alongside existing backers QED Investors, Monk’s Hill Ventures and Quona Capital.

IPID will use the funding to expand its global network, grow in the United States and Europe, and develop capabilities covering US payment rails, stablecoins and digital assets.

The company provides bank account verification services across more than 50 countries, helping financial institutions verify recipient details before funds are sent.

“Every payment starts with a decision, but institutions are often making that decision with incomplete information. 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.”

Citi and HSBC already work with IPID on payment verification, including beneficiary validation for cross-border payments.

IPID is expanding beyond account verification as real-time payments, automated transactions and newer payment rails increase the need for recipient information before payments are completed.

Featured image: Edited by Fintech News Singapore, based on image by mrsiraphol via Magnific

The post IPID Raises US$16 Million for US, Europe and Digital Asset Expansion appeared first on Fintech Singapore.



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