Sis ID completed a €5 million funding round backed by Bpifrance, Opera Tech Ventures from BNP Paribas and Aonia Ventures.

Sis ID, a Lyon, France-based software startup for payment security, announced that it secured a €5 million ($6M) financing round.

The money was raised from investors from France, including  Bpifrance, Opera Tech Ventures from BNP Paribas and Aonia Ventures.

The proceeds will be used to get a grip of the France market positioning and develop an international expansion (first in the United Kingdom and Spain, particularly targeted by fraud).

Sis ID, founded in 2016 and led by CEO Laurent Sarrat, developed a SaaS solution that can be used for Authorized Push Payment fraud. The platform is aiming to help financial companies, as it combines technology and collective intelligence to secure third party, customers and suppliers bank details beyond company borders.