Payment Intelligence Company IPID Secures $16 Million Series A Funding

International Payments Identity (IPID), a payment intelligence company that assists institutions in identifying payees and assessing fraud risk, has secured $16 million in Series A funding. The round was led by Foundation Capital and saw participation from strategic investors Citi and HSBC, as well as existing investors QED Investors, Monk's Hill Ventures, and Quona Capital. IPID's platform, which provides bank account verification across more than 50 countries, is set to expand to include U.S. payments and digital assets.

This expansion aims to equip institutions with the intelligence needed to make informed decisions before funds are transferred. IPID's CEO, Damien Dugauquier, emphasized the importance of complete information in payment decisions and the company's goal to provide decision intelligence that spans countries, payment rails, and forms of value. Foundation Capital's Partner, Zach Noorani, lauded IPID as a global standard for bank account verification and intelligence, positioning the company to assist global financial institutions in combating fraud and streamlining payment operations.

The funding will enable IPID to enhance its global payment intelligence network, drive growth in the United States and Europe, and develop new capabilities to aid institutions in making informed decisions and streamlining payment operations across U.S. payment rails, stablecoins, and digital assets.