iPiD secures $7.13m in Pre-Series A funding

The startup will use the funds for expansion.

Singapore-based fintech iPiD raised $7.13m (US$5.3m) in an oversubscribed Pre-Series A funding round led by capital firm Monk’s Hill Ventures and fintech venture funds QED Investors and Quona Capital. Existing investor 1982 Ventures also participated in the round.

The startup will use the funds raised to boost efforts to enhance payment security in focus areas, such as Europe and Asia.

With the additional funding, iPiD hopes to accelerate the commercial rollout of its Verification of Payee solutions in Europe and assist payment service providers (PSPs) in complying with the upcoming Verification of Payee regulation instated by October 2025.

iPiD also plans to intensify its focus on Asia, including Southeast Asia, where it is already operating. The company said the “region is pivotal as one of the largest remittance-receiving regions supported by vibrant economies.”

US$1=S$1.35

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