Fidel API raises $65 million

UK-based Fidel API has raised $65 million in Series B funding. The round was led by Bain Capital Ventures, with participation from existing investors NYCA Partners, QED Investors and more. It brings Fidel API’s total funding to $88 million since inception.

Launched in 2018, 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 connect to a user’s card, capture purchases in real time and trigger event-based experiences.

Startups 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.

“Today, thousands of developers are using the Fidel API platform to build real-time, event-driven experiences that deliver utility to consumers and businesses around the world. This financing round will help us meet the ever increasing demand for developer tools that enable programmable money experiences. Above all, it’s a testament to where the industry is headed. We are fortunate to be at the heart of this transformation, providing a unique set of developer tools that is accelerating the future of programmable money.” – Dev Subrata, CEO of Fidel API.

“Fidel API is driving the next wave of financial innovation. We have been exceptionally impressed by Dev, his team and their mission to enable the future of payment experiences through their infrastructure. Fidel API is poised to become a dominant player in the space as it continues to scale its platform and offerings. We are proud to support the company on this exciting growth trajectory.” – Merritt Hummer, partner at Bain Capital Ventures.