[Funding News] iPiD Raises $5.3M Pre-Series A Funding Round Led by MonkHill, QED, Quona Cap

A pre-Series A investment round led by Monk's Hill Ventures and including Quona Capital, QED Investors, and current partners has brought in $5.3 million for iPiD, a fintech business that specialises in payee verification and identity solutions.

The money will go towards developing products that stop payment-related fraud and increase iPiD's market share in key regions, namely Asia and Europe.

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Along with current partners Jungle Ventures, 1982 Ventures, Saison Capital, and Resolution Ventures, they are joined by international FinTech venture funds QED Investors and Quona Capital.

The flagship product of iPiD, checks account information and payee names to prevent fraud and improve customer satisfaction. With more than 2.8 billion accounts and 6,000 banks served, iPiD provides services to clients on six continents.

Damien Dugauquier, CEO and Founder, iPiD, said: "This investment empowers us to tackle the pressing challenges in the payment industry—enhancing security and simplifying compliance. By advancing our validation technologies, we're not just responding to regulatory demands; we're actively enhancing trust and efficiency in global payment ecosystems that are increasingly targeted by fraudsters,"

About iPiD

Founded in 2020 by Damien Dugauquier, The goal of iPiD is to provide simple, safe, and seamless cross-border payments. In order to create an addressing data platform that benefits the payment industry, we collaborate with financial services providers (banks, payment systems, and payment fintechs).

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