Singapore’s iPiD Secures $16M to Verify Payees in Instant Payments Era
Singapore-based iPiD raised $16 million in Series A funding to expand its payee verification tools.
The round was led by Foundation Capital with strategic participation from Citi and HSBC.
Why Payee Checks Matter Now
Instant payments leave little time to spot errors or fraud before money arrives.
iPiD connects to thousands of banks worldwide through one API for quick account validation.
Existing customers include major banks that use the service for cross-border checks.
Expansion Plans and Market Shifts
The company will grow its presence in the United States and Europe while adding support for stablecoins.
Smaller fintech firms and corporates gain access to verification previously limited to large institutions.
This funding follows earlier rounds and brings total capital to about $24.6 million.
Founders with SWIFT experience built the platform to address gaps in global payment data.
Over the next year banks may integrate similar tools faster as real-time rails expand.
Digital asset growth could create new demand for the same verification layer.
Overall the deal signals rising investor interest in payment infrastructure amid faster transaction speeds.
