Fidel API, a global financial infrastructure platform, has snared $65m from a Series B funding round.
The round was headed by Bain Capital Ventures and saw participation from NYCA Partners, QED Investors and more. Following this round, Fidel has raised a total of $88m since inception.
Launched in 2018, Fidel API enables developers to create programmable experiences that enhance the value of using and accepting payment cards. The firm’s platform provides identity, data, and payments products that allow developers to capture consent permissions and securely connect payment cards to a service or application.
Through this infrastructure, developers can create highly contextualised and event-driven user experiences at the point of purchase.
Since its official launch, the company claims it has experience ‘tremendous growth’, more than doubling the size of its workforce over the past year and entering markets across North America, Europe, Asia Pacific and the Middle East.
Fidel claims its funding will allow it to continue to scale its workforce and product offerings. It also plans to more than double its global headcount in order to meet growing demand with a particular focus on engineering, sales and product hires. The company will also accelerate investments into existing products.
Fidel API CEO Dev Subrata 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.”
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