Singapore Fintech iPiD Raises $16M in Series A Funding to Expand Payment Verification Network

The Singapore‑based payment intelligence company iPiD has raised $16 million in a Series A round led by Foundation Capital. Investors Citi and HSBC also joined, along with current backers QED Investors, Monk’s Hill Ventures and Quona Capital. IPiD announced the funding on September 24, 2026.

With this capital, iPiD plans to grow into the United States and Europe. iPiD will also strengthen its payment verification tools for payment rails, stablecoins and other digital assets.

iPiD’s Payment Verification Technology

iPiD provides payment intelligence technology that allows banks, payment firms and businesses to check the recipient’s account details before a transaction finishes. IPiD calls this approach "Know Your Payee." iPiD focuses on confirming the beneficiary, not the sender. This way iPiD can spot account details, mismatches, and possible fraud before money moves.

This kind of verification is more important now because instant payments settle in seconds. Faster payment steps give banks time to find mistakes or suspicious destinations before funds leave.

iPiD says its network reaches banks in more than 50 countries. iPiD claims direct links and distribution deals give it access to over 6,500 banks and about 4 billion bank accounts.

How iPiD Plans to Use the $16M Funding

iPiD will use the Series A money in a few ways:

• Global Payment Network: iPiD will grow its payment intelligence network covering more banks and payment systems.
• US and European Expansion: iPiD will use part of the money to boost its presence in the United States and Europe, the two markets iPiD wants to grow in.
• Faster Payment Rails and Digital Assets: iPiD will build products for US payment rails, stablecoins, and other digital assets. IPiD will expand its verification tech beyond bank‑account payments.

Citi and HSBC Join iPiD’s Series A

Citi and HSBC help make the Series A round more strategic. iPiD says Citi uses its tech via Citi Verify while HSBC uses iPiD to improve beneficiary checks beyond systems.

iPiD works with customers and partners such as Visa, Nium, Experian and Tazapay. Foundation Capital partner Zach Noorani highlighted iPiD’s goal to build a verification layer that does not rely on traditional bank consortium models.

iPiD sees building ties with banks as very important. Payment verification depends a lot on linking banking and payment systems in many markets.

iPiD Funding History

The Series A comes after two rounds. In 2022, iPiD raised $3.3 million in seed money from Rapyd Ventures, Jungle Ventures, and 1982 Ventures. In 2024, iPiD got $5.3 million in a pre‑Series A round led by Monk’s Hill Ventures, with QED Investors and Quona Capital investing.

The new $16 million Series A pushes iPiD into a phase of growth focusing on payment verification in global markets and digital payment infrastructure. iPiD has not shared its valuation yet.

About iPiD

Founded in 2021, iPiD is based in Singapore. It operates in many places such as London, New York, Dubai, Amsterdam, Brussels, Kuala Lumpur, and Mumbai. Experienced payments leaders who worked at SWIFT and other fintech firms started iPiD. IPiD concentrates on payment intelligence and beneficiary checks, helping banks and businesses confirm recipient data before sending money. iPiD’s tech is built to meet the growing needs of real‑time payments, where quick transfers can make it hard to reverse errors or fraud.

Editorial & Source Note

This article comes from iPiD’s funding announcement and the data the company gave about its products, investors, network reach, and growth plans. iPiD’s funding history was checked against reported rounds in the supplied material. Numbers, like the count of banks and bank accounts that iPiD can reach, come from the company’s data and should be treated as such.

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