UK fintech Fidel API secures $65m Series B round

London-based financial infrastructure platform Fidel API has raised $65 million in a Series B funding round.

Fidel API CEO Dev Subrata

The round was led by Bain Capital Ventures and saw participation from existing investors NYCA Partners, QED Investors, Citi Ventures, RBC Capital and Commerce Ventures.

The Series B brings Fidel API’s total funding to date to $88 million.

Fidel API provides identity, data and payments infrastructure to enable developers to create programmable experiences for card payments, such as digital receipts, omni-channel attribution, loyalty and rewards, expense management and personal finance management.

CEO Dev Subrata says: “This financing round will help us meet the ever increasing demand for developer tools that enable programmable money experiences.”

The funding will allow the company to double its global workforce, with a particular emphasis on engineering, sales and product teams.

Fidel also plans to spend cash on nurturing existing product lines and developing new ones in the identity verification, consent management and payment spaces.

Launched in 2018, the company boasts Google, Royal Bank of Canada and British Airways as customers and powers services for millions of cardholders across the world.