iPiD Secures $5.3 Million to Enhance Global Payment Security
iPiD Overview:
iPiD Overview:
Founded in 2021, iPiD is a venture-backed fintech startup simplifying, securing, and streamlining global payments through partnerships with banks and payment providers.
Core Solutions:
Core Solutions:
iPiD offers two solutions, Validate and Fetch, reducing costs, mitigating fraud, and improving the payment experience via a single API that ensures data security compliance.
Founding Team:
Founding Team:
Led by industry experts Damien Dugauquier and Geertjan van Bochove, iPiD enhances existing payment services with deep expertise in global financial transactions.
Pre-Series A Funding:
Pre-Series A Funding:
iPiD secured $5.3 million in pre-Series A funding, led by Monk’s Hill Ventures with participation from QED Investors, Quona Capital, and others.
Primary Function:
Primary Function:
iPiD authenticates and identifies payees to improve transaction safety and efficiency, combating fraud and reducing unsuccessful payments with its Validate solution.
Use of Funds:
Use of Funds:
The funds will expedite iPiD’s global payment security initiatives, focusing on Europe and Southeast Asia, and supporting adherence to upcoming regulations like Europe’s Verification of Payee.
Global Presence:
Global Presence:
Operating in the US, UK, Netherlands, and more, iPiD’s network spans over 2.8 billion accounts and 6,000 banks, targeting the $150 trillion cross-border payment market.
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