IPID Raises $16M in Series A Funding to Enhance Payment Intelligence
IPID, a payment intelligence company focused on helping financial institutions verify recipients before sending funds, has raised $16 million in a Series A round led by Foundation Capital. Strategic investors Citi and HSBC also participated, along with existing backers QED Investors, Monk's Hill Ventures, and Quona Capital. The funding aims to expand IPID’s platform into U.S. payments and digital assets while deepening its global payment intelligence network. The company addresses a growing issue in the financial sector: as real-time payments become more common, institutions often lack sufficient information about recipients before sending money, increasing fraud risk. According to LSEG data cited by IPID, Authorized Push Payment (APP) fraud alone could cause $331 billion in global losses by 2027. IPID’s solution helps banks and payment service providers verify bank accounts across more than 50 countries before funds move. The company plans to use the new capital to accelerate growth in key markets like the U.S. and Europe, as well as develop tools that help institutions make better-informed decisions.
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Topics: fraud_prevention payments venture_capital