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  • Fraud Prevention
  • Payment
  • France

Sis ID raises funds to fight money transfer fraud


  • Sis ID is a FinTech with a unique model that uses collaboration to combat wire transfer fraud.
  • Against a backdrop of increasing threats, its solutions are attracting the interest of investors, as Sis ID has just raised €5 million in Series A funding from Digital Ventures (Bpifrance), Opera Tech Ventures (BNP Paribas) and Aonia Ventures.


  • Target: CFOs and corporate treasurers.
  • Value proposition: securing the payment details of third parties, customers and suppliers, based on an anonymized database of a network of nearly 10,000 companies in France and abroad.
  • Its offers:
    • My Sis ID, which allows you to check in a few seconds that a company's identity matches its bank details. An alert is instantly raised if there is a risk of fraud.
    • Sis Inside, which enables this platform to be integrated into companies' business applications, via an interface with most major ERP and TMS systems.


  • Connecting companies to facilitate the fight against fraud on a global scale. The strength of Sis ID's proposal is to enable the pooling of these hundreds of thousands of anonymized bank details, in order to provide a global response to a risk that has also become globalized.
  • Sis ID will use its funds to strengthen its positioning in France and accelerate its international development. In particular, it is targeting Spain and the United Kingdom, which are particularly affected by transfer fraud. In this context, it plans to increase its workforce tenfold by 2025.
  • The FinTech platform also needs funding to evolve and improve constantly, to keep up with the equally constant changes in fraudsters.


  • According to figures published by Euler Hermes in its annual barometer for the DFCG, 7 out of 10 French companies suffered a fraud attempt in 2019. A third of them were targeted by more than 5 attempts, a recurrence that suggests that fraudsters seek to bring down a defense system by multiplying attacks. For 1 company in 3, the estimated damage is more than 10,000 euros.  
  • Among these fraud cases, identity theft is the most widespread, in particular fake suppliers (48% of cases) and fake customers (24% of cases).
  • And this trend is far from weakening. The year 2020 has represented a major threat for companies of all sizes; weakened by the crisis, they have been all the more targeted by fraudsters.