Fintech start-up iPiD has announced a $3.3 million seed funding round by strategic investors Rapyd Ventures, Jungle Ventures, 1982 Ventures, Resolution Ventures, Saison Capital, the XA Network and Wing Vasiksiri. In addition, the company also announced the appointment of Alain Raes, a long-time payments industry expert and former SWIFT executive, as Chief Commercial Officer.
Co-founder and CEO Damien Dugauquier said, “We are delighted that Rapyd Ventures, Jungle Ventures and several fintech-focused Venture Funds can see the potential of iPiD’s solution in the creation of frictionless cross-border payments. As our valued partners, they will provide operating experience and growth capital to accelerate our go-to-market strategy and help us position iPiD for the next phase of growth.
Reeju Datta, co-founder, of Cashfree Payments said, “Collaboration between fintech and banks can help us to build a sustainable ecosystem together that will meet changing customer expectations and support industry growth.”
Raes, on his appointment, said, “I am thrilled to join iPiD at this crucial stage in the company’s development and for the industry. The trend toward frictionless payments is unstoppable. It began in the domestic space and is moving to international payments. Because our solution can be integrated into any existing payment system, we are perfectly placed to support that transformation while leveraging existing infrastructure. Our solution truly is a game changer.”
Founded in 2021 by payment and technology experts, Damien Dugauquier, Eddie Haddad and Geertjan van Bochove, International Payments Identity (iPiD) aims to enable a simpler cross-border payment experience and prevent fraud attempts.
According to the startup, financial institutions can even replicate the seamless and easy experience that their customers in many countries have become used to for domestic payments.
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