Fidel API, a London, UK-based provider of a financial infrastructure platform, raised $65m in Series B funding.
The round, which brings Fidel API’s total funding to $88 million since inception, was led by Bain Capital Ventures, with participation from existing investors NYCA Partners, QED Investors and more.
The company intends to use the funds to continue to scale its workforce and product offerings. They plan to more than double its global headcount with a particular emphasis on Engineering, Sales and Product hires. The added capital will also accelerate investments into existing products, in addition to newer product capabilities across identity verification, consent management and payments.
Co-founded by Dev Subrata (CEO) and Andre Elias (CTO), Fidel API enables developers to create programmable experiences that enhance the value of using and accepting payment cards. Its platform provides identity, data, and payments products that allow developers to capture consent permissions and securely connect payment cards to a service or application. With this infrastructure, developers are able to create highly contextualized and event-driven user experiences at the point of purchase. Start-ups through global enterprises, including Google, Royal Bank of Canada and British Airways, are leveraging Fidel API’s tools to power a range of solutions including digital receipts, omni-channel attribution, loyalty and rewards, expense management and personal finance management.
Launched in 2018, the company also has offices in Lisbon, New York, and remote employees globally.