Far from your usual fintech. Here's iPiD! This Singaporean B2B fintech just raised a $3.3M seed. Get this: they make sending money internationally as easy as sending a text! (Yes, really!)

Investor check. Resolution Ventures, Jungle Ventures and 1982 Ventures co-led the round. Rapyd Ventures, Saison Capital, XA Network and Wing Vasiksiri also joined in.

🤔 Why it matters

For everyone from major multinationals, banks and fintechs to people like you and I, cross-border payments are a pain.

Payments are now faster, yes. The real problem? You need a ton of information to make international transfers, from bank names and account numbers to BIC, IBAN and routing codes. This leaves a lot of room for error!

• Frustrating and expensive. The cost of failed payments has reached a huge $120B.
• It's a huge problem. Don't believe us? iPiD is building to support the nearly $2T global payments market.

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🏦 Where iPiD comes in

Stop typing in tons of details. Just use one alias, like your phone number, email address, Facebook ID or QR code to make the international bank transfer. That's all!

• Local payments are super easy — you just scan a QR code or input the number of a friend. They're bringing this ease (made even better) to cross-border payments.

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🤯 Made possible by...

A lot of data. In a nutshell, they're a data platform that gathers and organizes financial data to make these possible!

• This can be used by any bank or fintech solution — they're fully compliant too!

Working together. They don't replace banks, e-wallets, fintechs or payment platforms. Their API allows financial service providers (banks, fintechs, e-wallets, etc.) to offer their customers these oh-so-simple payment services.

• Founded in 2021, iPiD has brought on 20+ financial institutions in 15 countries like GCash, CIMB and Wallex to use their tech and help them build up their products and services.

Being safer and easier. Their first-of-its-kind global bank account validation and proxy addressing service reduces fraud and minimizes failed payments — lowering costs and boosting efficiency. Businesses (and their customers) will love it!

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✈️ International, baby!

With the $$$, they'll be focusing on product development and pushing expansion to new markets!