TLDR:
- iPiD secures USD 5.3 million in Pre Series A funding round.
- Funding will help enhance payment security and expand globally.
iPiD Closes Oversubscribed USD 5.3 Million Pre Series A
iPiD, a global fintech company, announced the closure of its oversubscribed Pre Series A funding round of USD 5.3 million. The round was led by Monk’s Hill Ventures, with participation from QED Investors and Quona Capital, as well as existing partners Jungle Ventures, 1982 Ventures, Saison Capital, and Resolution Ventures. This funding will be used to enhance payment security globally, with a focus on strategic markets in Europe and Asia.
iPiD, founded in 2021 by former Swift executives, offers cutting-edge payee verification solutions to improve security and convenience in global payments. The company aims to capitalize on the growing cross-border payment flows, which reached approximately USD 150 trillion in 2022. The new funds will support 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 expressed gratitude for the support from investors and highlighted the company’s mission to enhance payment security and simplify compliance. The funding will also enable iPiD to focus on expanding its operations in Asia, particularly Southeast Asia, where it already has a significant presence.
The investors, including Monk’s Hill Ventures, QED Investors, and Quona Capital, emphasized the strength of iPiD’s technology and team, highlighting the company’s potential to address global payment challenges and improve the payment landscape.
