This Business News Story Was Uncovered By Us From: https://www.under30ceo.com/payment-fraud-prevention-ipid-16m-series-a/
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Instant payments move fast, and that speed is exactly the problem a startup called IPID just raised money to fix. The company announced a $16 million Series A on September 24, led by Foundation Capital with Citi and HSBC joining as strategic investors.
If your business has ever sent a payment to the wrong account, or waited nervously to confirm a client’s bank details were real, this news is for you. IPID exists because the faster money moves, the less time anyone has to catch a mistake before it becomes expensive.
What IPID Actually Does
IPID stands for International Payments Identity, and the company verifies bank accounts and flags payment risk across more than 50 countries. Co-founder and CEO Damien Dugauquier built it around a simple problem: institutions often send money before they fully know who is really on the other end.
Dugauquier’s point is simple. Banks routinely approve a transfer without fully knowing who sits on the other end of it, and that gap only gets more dangerous as instant payment systems spread, because once money moves, there is little time to pull it back.
The company is headquartered across Singapore and New York, which mirrors where instant payment adoption has grown fastest over the last few years. Both markets have pushed hard toward real-time transfer rails, and both have watched fraud losses climb right alongside the convenience.
The Fraud Numbers Driving the Round
The urgency here is not hypothetical. Authorized push payment fraud, where someone is tricked into approving a payment themselves, could cost the global economy as much as $331 billion by 2027, based on projections from data and analytics firm LSEG.
IPID’s Series A at a glance
Detail
Figure
Round size
$16 million Series A
Lead investor
Foundation Capital
Strategic backers
Citi, HSBC
Countries covered
50+
Projected fraud losses by 2027
$331 billion
Existing investors QED Investors, Monk’s H… Read More
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