International payments platform iPiD secures $3.3m in seed funding

By Leandra Monteiro

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 has announced the appointment of Alain Raes, a long-time payments industry expert and former SWIFT executive, to the iPiD management team as Chief Commercial Officer.

“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,” said co-founder and CEO, Damien Dugauquier. “As our valued partners, they will provide operating experience and growth capital to accelerate our go-to-market strategy and help us to position iPiD for the next phase of growth.”

Given the company’s growing network of investors and partners, iPiD also announced that Alain Raes, a payments expert, and former SWIFT executive, joined the company as Chief Commercial Officer. His strong relationships with financial institutions and deep understanding of payments and technology – including domestic and cross-border payments, market infrastructures, retail and corporate payments, compliance, regulatory issues and mobile technologies – will play a critical role in helping iPiD to scale its business.

“I am thrilled to join iPiD at this crucial stage in the company’s development and for the industry,” said Raes. “The trend towards 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.”