IPID, a payment-intelligence company that helps institutions identify payment beneficiaries, raised $16 million in a Series A round led by Foundation Capital, with strategic participation from Citi and HSBC. Existing investors QED Investors, Monk's Hill Ventures and Quona Capital also participated. The company provides bank-account verification services to major financial institutions in more than 50 countries and plans to expand its platform into U.S. payments and digital assets. IPID says the funding will strengthen its global payments-information network, accelerate growth in the United States and Europe, and support tools that help institutions assess beneficiary identity and fraud risk before funds move through U.S. payment networks, stablecoins or other digital assets. The announcement cited LSEG's estimate that authorized push-payment fraud alone could produce $331 billion in global losses by 2027.