Founded in 2016 and based in Lyon, Sis ID developed a collaborative platform to address fraud risk in bank transfers. The startup relies on a network of over 10,000 companies, enabling the verification of hundreds of thousands of bank account details each month. The platform secures payment details of third-party clients and suppliers beyond an organization's borders.
Sis ID serves numerous international companies in the telecom, construction, retail, transportation, and services sectors. The company plans to use the funds to strengthen its position in France and accelerate its expansion into the UK and Spain.
Bpifrance is a French public investment bank that helps companies grow and has supported Sis ID with its Digital Venture Fund. BNP Paribas is a French multinational bank and financial services company that operates in 72 countries. Opera Tech Ventures is a venture capital fund of BNP Paribas that invests in fintech startups. Aonia Ventures is a venture capital firm that invests in early-stage technology companies.
This funding round will enable Sis ID to continue developing its platform and expand its customer base.