IPID raises $16 million to enhance payment intelligence

Payment intelligence firm IPID has secured $16 million in Series A funding led by Foundation Capital. The capital will be used to bolster its global payment information network.

New York and Singapore – Payment intelligence company IPID announced it has raised $16 million in a Series A funding round. Foundation Capital led the round, with strategic investors Citi and HSBC participating. Existing investors QED Investors, Monk's Hill Ventures, and Quona Capital also participated.

IPID provides payment intelligence to help financial institutions identify payment beneficiaries before funds are transferred. The company aims to address challenges in fast-paced digital payments where information about the recipient does not always keep pace. This lack of information can lead to significant losses due to fraud, which is projected to reach $331 billion globally by 2027.

"Every payment starts with a decision, but institutions often make that decision based on incomplete information," said Damien Dugauquier, co-founder and CEO of IPID. The company is expanding its platform to cover U.S. markets and digital assets, providing institutions with the necessary intelligence to make informed decisions.

About IPID

IPID delivers decision intelligence to banks, payment service providers, and businesses. It assists in verifying beneficiary identities, assessing fraud risks, and ensuring regulatory compliance. The funding will be used to strengthen its global payment information network, drive growth in U.S. and European markets, and develop new features.