back Back

Fidel API raised $65m in a Series B funding round led by Bain Capital Ventures

By Joy Dumasia

April 07, 2022

  • API
  • API payments
  • Bain Capital Ventures
Share

Fidel API, a global financial infrastructure platform, announced it had 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.

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 can create highly contextualised 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, omnichannel attribution, loyalty and rewards, expense management and personal finance management.

Fidel API’s Series B financing will allow the company to continue to scale its workforce and product offerings. The company plans to double its global headcount more to meet growing demand, emphasising Engineering, Sales and Product hires. The added capital will also accelerate investments into existing products and newer product capabilities across identity verification, consent management, and payments.

Dev Subrata, Chief Executive Officer of Fidel API, said: “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.”

Merritt Hummer, Partner at Bain Capital Ventures, said: “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.”

Since launching in 2018, Fidel API has experienced tremendous growth, more than doubling the size of its workforce over the past twelve months and entering markets across North America, Europe, Asia Pacific and the Middle East. Fidel API is currently powering services for millions of cardholders and hundreds of thousands of merchants around the world. 

Previous Article

April 07, 2022

Scroll Finance launches greenfield UK mortgage offering on Mambu

Read More
Next Article

April 07, 2022

COFINA banks on Oracle to get loans to underserved businesses faster

Read More






IBSi Daily News Analysis

UK, Bank

July 12, 2024

API

Global securities lending revenue sees sharp 16% decline to $2.53bn in Q2 2024, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

Today

Payset and ClearBank partner for local and cross-border payments

Read More

Today

Network International launches Business Payment Solutions with Mastercard

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024