SurePay provides payment-authentication services including IBAN-name checks and a Confirmation of Payee (CoP) solution to reduce misdirected and fraudulent transfers. The company has performed over 120M CoP checks in the UK and says it has carried out 4B payment checks overall. SurePay reports checking more than 25% of all online payments in the UK and claims its technology reduces misdirected payments by 67% and fraud payments by 81%. Over 30 banks and more than 150 corporates use its service, with clients including ING, ABN AMRO, Rabobank, NatWest Group, Atom Bank and STRATO. Future plans announced alongside the raise include hiring business development teams in Germany and the UK, adding IT staff to scale the platform, launching bulk and cross-border payment solutions, and expanding SurePay PayID. The company also partners with institutions such as Triodos Bank UK and supports government payment checks related to COVID-19 schemes.

Total raised

$13M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2024