Fidel raises $18M to let developers build on top of payment data from Visa, MasterCard and Amex
Fidel, the U.K.-headquartered startup that offers an API to let developers build functionality, such as rewards, on top of the major card payment networks, has raised $18 million in Series A funding.
The pretty sizeable round is co-led by U.S.-based fintech funds Nyca Partners and QED Investors. Also participating are Citi Ventures, Commerce VC, Elefund, Horizons Ventures, RBC Ventures Inc. (a subsidiary of Royal Bank of Canada), and 500 Startups. Several angel investors also joined in, such as Cris Conde, former CEO of Sungard, and Taavet Hinrikus, founder of TransferWise.
Meanwhile, Hans Morris, former President of Visa and Managing Partner of Nyca Partners, and Yusuf Ozdalga, Partner at QED Investors, will join the company’s board.
Fidel says the new funding will be used to expand the Fidel team and support the company’s growth, product development and international ambitions in North America, the Nordics and APAC.
Working in partnership with Mastercard, Visa and American Express, put simply Fidel has developed a suite of APIs that make it easy to link a user’s payment card to an app. This means that developers are able to build card-linked applications “in a matter of minutes,” such as loyalty-based rewards and more innovative use-cases afforded
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