iPiD Secures $5.3 Million to Enhance Global Payment Security

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:

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:

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:

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:

iPiD authenticates and identifies payees to improve transaction safety and efficiency, combating fraud and reducing unsuccessful payments with its Validate solution.

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:

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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