TLDR:
- iPiD secures $5.3 million in pre-Series A funding round led by Monk’s Hill Ventures, QED Investors, and Quona Capital.
- The funding will be utilized to enhance payment security globally, with a focus on strategic markets like Europe and Asia.
iPiD (International Payment Identity) has secured $5.3 million in a pre-Series A funding round. The funding was led by Monk’s Hill Ventures, along with global FinTech venture funds QED Investors and Quona Capital, as well as existing partners Jungle Ventures, 1982 Ventures, Saison Capital, and Resolution Ventures. Founded in 2021 by a team of former Swift executives, iPiD provides payee verification and identification solutions. The funds will be used to accelerate the commercial rollout of iPiD’s Verification of Payee solutions in Europe, helping payment service providers comply with upcoming regulations. CEO and Founder Damien Dugauquier emphasized the importance of enhancing security and simplifying compliance in the payment industry. The company also plans to focus on expanding in Asia, particularly Southeast Asia. Monk’s Hill Ventures Partner Susli Lie highlighted iPiD’s unique position in addressing the issue of failed payments and improving the global payment landscape.
