Fidel API raised $65 million in series B funding, making the future of programmable currency possible

2022-06-23 0 By

New York and London –(BUSINESS News)– Global financial infrastructure platform Fidel API today announced that it has raised $65 million in series B financing.The round was led by Bain Capital Ventures, with existing Investors including NYCA Partners and QED Investors.The financing brings the total amount raised by Fidel API to $88 million since its inception.This press release contains multimedia content.Full press release can be found in the following web site: https://www.businesswire.com/news/home/20220406005044/en/Fidel API allows developers to create programmable experience, so as to improve the value of use and accept payment card.Its platform provides identity, data and payment products that allow developers to obtain consent and securely connect payment cards to services or apps.With this infrastructure, developers can create highly contextualized and event-driven user experiences at the time of purchase.From startups to global companies including Google, ROYAL Bank of Canada and British Airways, The Tools of the Fidel API are used to drive the implementation of a range of solutions, including digital receipts, omni-channel attribution, loyalty and rewards, expense management and personal financial management.Fidel API’s Series B financing will allow the company to continue to expand its workforce and product offerings.The company plans to more than double its global workforce to meet growing demand, with a special emphasis on hiring engineering, sales and product talent.The additional capital will be used to accelerate investment in existing products, in addition to developing new product features such as authentication, consent management and payments.”Today, thousands of developers are using the Fidel API platform to build real-time, event-driven experiences that provide utilities to consumers and businesses around the world,” said Dev Subrata, CEO of Fidel API.This round will help us meet the growing demand for developer tools that provide programmable currency experiences.Most importantly, it’s a testament to where the industry is headed.We are fortunate to be at the heart of this transformation and offer a unique set of developer tools to accelerate the future of programmable currency.””Fidel API is driving the next wave of financial innovation,” said Merritt Hummer, a partner at Venture capital firm Bain Capital.Dev and his team were extremely impressed with their mission to enable the future payment experience through infrastructure.As it continues to expand its platform and products, The Fidel API will become the dominant player in this space.We are proud to support the company on this exciting growth trajectory.”Since its launch in 2018, Fidel API has experienced dramatic growth, more than doubling its workforce in the past 12 months and entering markets in North America, Europe, Asia Pacific and the Middle East.Fidel API currently serves millions of cardholders and hundreds of thousands of merchants around the world.About the Fidel API The Fidel API is a global financial infrastructure platform that enables developers to build programmable experiences associated with real-time payment events through user cards.Companies from startups to global companies are using the Tools of the Fidel API to drive implementation of a range of solutions, including digital receipts, customer attribution, loyalty and rewards, expense management and personal financial management.Founded in 2018, Fidel API is headquartered in London, with offices in Lisbon and New York and remote staff around the world.Investors in Fidel API include Bain Capital Ventures, Nyca Partners, QED Investors, Citi Ventures, RBC Capital and Commerce Ventures.For more information, visit https://fidelapi.com about Bain Capital Venture Capital Bain Capital partners with disruptive founders to accelerate bringing their ideas to market.Bain Capital ventures invests in startups from seed to growth stage, driving industry transformation from software-as-a-service, infrastructure software and security, to fintech and healthcare, to business and consumer technology.The company has helped launch and commercialize more than 395 companies,They include Attentive, Digital Currency Group, DocuSign, Flywire, Jet.com, LinkedIn, Redis Labs, Rent the Runway, SendGrid and SurveyMonkey.Bain Capital, a venture capital firm, manages $10 billion in assets and has offices in San Francisco, New York, Boston and Palo Alto.Follow the company on LinkedIn and Twitter.Disclaimer: The original version of this announcement is the official authorized version.The translation is for convenience only, please refer to the original version, the original version is the only legally valid version.Contact: Laura Nizlek Director of Global Communications Fidel API co-founders Dev Subrata (CEO) and Andre Elias (CTO) (Photo: US Business News)