iPiD Raises $16M Series A Led by Foundation Capital for Payee Verification

iPiD Closes $16M Series A

iPiD, a Singapore-based fintech, has raised $16 million in Series A funding. The round was led by Foundation Capital.

What iPiD Does

iPiD — short for International Payments Identity — provides Know Your Payee (KYP) and payee-verification infrastructure. Its technology lets banks and payment providers confirm account-holder identity in real time.

The stated purpose of the infrastructure is to reduce fraud and failed cross-border payments. By verifying that a payee is who they claim to be before funds move, payment providers can address two persistent problems in international transfers: fraud and transactions that fail to complete.

The Investor Group

The Series A was led by Foundation Capital, with participation from:

• QED Investors
• Monk’s Hill Ventures
• Quona Capital
• HSBC
• Citi

Why This Matters for the Payments Stack

Cross-border payments depend on accurate identification of the receiving party. When payee identity cannot be confirmed in real time, institutions face fraud exposure and operational costs from failed or returned payments. iPiD positions its KYP and payee-verification infrastructure as a layer that banks and payment providers can integrate to confirm account-holder identity at the moment of transaction.

The presence of HSBC and Citi among the investors is notable given that both are global banking institutions with direct exposure to cross-border payment flows. Their participation sits alongside specialist fintech investors QED Investors, Monk’s Hill Ventures, Quona Capital, and Foundation Capital.

Round Details

• Company: iPiD (International Payments Identity)
• Round type: Series A
• Amount: $16,000,000 USD
• Date: September 24, 2026
• Lead investor: Foundation Capital
• Additional investors: QED Investors, Monk’s Hill Ventures, Quona Capital, HSBC, Citi
• Headquarters: Singapore

About the Company

iPiD is a Singapore-based fintech operating in the payments identity space. Its focus is Know Your Payee and payee-verification infrastructure for banks and payment providers, delivered as real-time account-holder identity confirmation to cut fraud and failed cross-border payments.

Context

The Series A brings iPiD to a growth stage with a syndicate that combines venture firms and strategic banking investors. For observers of payments infrastructure, the round adds another data point to the ongoing buildout of verification layers designed to sit between payment initiation and settlement in cross-border flows.