Foundation Capital leads the Series A, with participation from Citi and HSBC

NEW YORK and SINGAPORE, Sept. 24, 2026 /PRNewswire/ -- IPID, the payment intelligence company helping institutions know who they are paying, announced a $16 million Series A led by Foundation Capital, with participation from strategic investors Citi and HSBC. The round also includes existing investors QED Investors, Monk's Hill Ventures and Quona Capital.

Digital payments have become faster and more seamless, but the information needed to evaluate them has not always kept pace. Institutions still do not always know who is receiving a payment or have enough information to assess risk before it is sent. The burden often falls on the sender to confirm the recipient, even when that sender may be the target of a scam. According to LSEG, Authorized Push Payment fraud alone is projected to cause $331 billion in global losses by 2027.

IPID is a leading global provider of bank account verification, supporting major financial institutions across more than 50 countries. It will soon expand its platform by applying its expertise in fragmented payment markets to U.S. payments and digital assets, giving institutions the intelligence to make the right decision before funds move.

"Every payment starts with a decision, but institutions are often making that decision with incomplete information," said Damien Dugauquier, co-founder and CEO of IPID. "We started by solving bank account verification globally. We are now building the broader decision intelligence that institutions need before funds move - across countries, payment rails and forms of value. The future of payments will not be defined simply by moving money faster. It will be defined by making better decisions before money moves."

"IPID has rapidly become the global standard for bank account verification and intelligence. It's quite a feat for something like this to develop outside of a bank consortium and makes IPID uniquely well-positioned to help financial institutions and payors globally fight fraud and streamline payment operations," said Zach Noorani, Partner at Foundation Capital.

Payments are becoming faster and more automated as real-time payments scale, new rails emerge and AI agents begin to initiate transactions. But the information institutions need before executing a payment remains fragmented across markets, providers and rails. IPID is tackling that blind spot by helping institutions know who is behind the receiving account before a payment becomes final.

"In an increasingly digital and interconnected financial landscape, it is critical to have payment validation that is instantaneous and highly secure. Our strategic alignment with IPID is further deepened through our participation in their Series A raise. We are excited at IPID's ability to deliver a globally consistent, high-performance experience that helps our clients continue to optimize their international operations with confidence," said Bis Chatterjee, Global Head, Partnerships and Innovation for Citi's Services.

Tom Simpson, Global Head of Currency Clearing & North America Regional Head of Cross Border Payments, Global Payment Solutions, HSBC, said: "HSBC's arrangement with IPID helps us extend beneficiary validation beyond local scheme requirements and provide clients with more information when making payments. This can help improve efficiency and certainty in an increasingly dynamic payments ecosystem."

IPID will use the funding to deepen its global payment intelligence network, accelerate growth in the United States and Europe, and develop new capabilities that help institutions make more informed decisions and streamline payment operations before funds move across U.S. payment rails, stablecoins and digital assets.

About IPID

IPID provides decision intelligence for banks, PSPs, platforms and corporates moving money. Across the payment lifecycle, IPID helps them verify payees and assess fraud risk, meet regulatory obligations, assess risk, monetise payments and enrich payment data. This gives them certainty, control and safety with reduced fraud, lower operational costs and a better customer experience follows. www.ipid.tech

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