iPiD, a fintech startup operating as a cross-border payments platform, has raised $3.3 million in a seed funding round led by strategic investors Rapyd Ventures, Jungle Ventures, 1982 Ventures, Resolution Ventures, Saison Capital, the XA Network, and Wing Vasiksiri.
In addition to funding, the startup appointed Alain Raes, a long-time payments industry expert and former SWIFT executive, as its Chief Commercial Officer (CCO).
Founded in 2021 by Damien Dugauquier, Eddie Haddad, and Geertjan van Bochove, International Payments Identity (iPiD) is a fintech startup that aims to enable a simpler cross-border payment experience and prevent fraud attempts.
“We are delighted that Rapyd Ventures, Jungle Ventures and several fintech-focused Venture Funds can see the potential of iPiD’s solution in the creation of frictionless cross-border payments,” says co-founder and CEO Damien Dugauquier. “As our valued partners, they will provide operating experience and growth capital to accelerate our go-to-market strategy and help us to position iPiD for the next phase of growth.”
With iPiD, financial institutions can replicate globally the seamless and easy experience that their customers in many countries have become used to for domestic payments, the startup said.
The startup claims to have grown a presence in eight countries, including India. It also announced that more than 20 financial institutions across 15 countries have signalled their intent to use iPiD’s global validation and addressing technology and are working with the company to help evolve its suite of products and services.
iPiD’s community includes institutions and startups in the banking and fintech industries such as YES BANK (India), Cashfree Payments (India), Bank Sahabat Sampoerna (Indonesia), CIMB (Malaysia), GCash (Philippines), Wallex (Singapore), Opal Payments (Singapore), and Moolahgo (Singapore), among others.
“Collaboration between fintechs and banks can help us to build a sustainable ecosystem together that will meet changing customer expectations and support industry growth”, says Reeju Datta, co-founder, Cashfree Payments. “We look forward to working closely with iPiD to help them evolve their solution.”
Source @Indianstartupnews
