IPID has raised $16.0M in Series A funding to expand its payment intelligence platform, which verifies payment details before transactions are sent.
The company's API connects clients to more than 6,500 financial institutions and 4 billion bank accounts across 50+ countries, covering roughly 90% of the global banked population. IPID helps banks, payment service providers, platforms and corporates confirm names, accounts, routing and regulatory compliance ahead of payments, addressing rules like the EU's Verification of Payee and the UK's Confirmation of Payee. Its customers include Citi, Emirates NBD, Abu Dhabi Commercial Bank, Hana Bank, Alfardan Exchange, Nium and Eftsure.
