Fintechs-Banks collaboration can help build a sustainable ecosystem, says Datta
Southeast Asian linked Singapore-based investors, with offices in Singapore, have participated in fintech start-up iPiD’s US$3.3 million seed funding round.
The strategic investors are Rapyd Ventures, Jungle Ventures, 1982 Ventures, Resolution Ventures, Saison Capital, the XA Network and Wing Vasiksiri, said Singapore-headquartered iPiD, which has global representatives in India, Belgium, Malaysia, the Netherlands, South Africa, Spain and Vietnam.
“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.”
“Collaboration between Fintechs and banks can help us to build a sustainable ecosystem together that will meet changing customer expectations and support industry growth”, said Reeju Datta, co-founder, Cashfree Payments. “We look forward to working closely with iPiD to help them evolve their solution.”
Founded in 2021, iPiD’s growing community includes leaders in the banking and fintech industries such as YES BANK (India), Cashfree Payments (India), Bank Sahabat Sampoerna (Indonesia), CIMB (Malaysia), GCash (Philippines), Wallex (Singapore), Opal Payments (Singapore), Moolahgo (Singapore), JiPay (Singapore), Equity BCDC (Democratic Republic of Congo) and Exchange Bank of Canada (Canada).
Given the company’s growing network of investors and partners, iPiD says Alain Raes, payments expert and former SWIFT executive, has joined the company as Chief Commercial Officer.
Raes said, “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.”
Headquartered in Singapore, iPiD is a fast-growing, venture-backed fintech start-up with a global team who have held senior roles at major payments and technology companies, including SWIFT and Thomson Reuters. Its Advisory Board includes senior figures from across the industry: Christian Sarafidis, Microsoft Chief Business Development Officer WWFSI; Kosta Peric, Deputy Director, Financial Services for the Poor, the Bill & Melinda Gates Foundation; and Nick Lewins, former banking Chief Technology Officer and now an advisor in data and AI, cloud technology and digital transformation. fiinews.com
