FinTech Startup Fidel API Raises $65 Million FinTech Startup Fidel API Raises $65 Million
Fidel founders

FinTech Startup Fidel API Raises $65 Million

What’s sure to be another hot year for FinTech continued this week as a company that powers cashback platforms and other services revealed an impressive investment. Today, Fidel API announced that it had closed a $65 million funding round. The Series B was led by Bain Capital Ventures while NYCA Partners, QED Investors, and others also participated. To date, the startup raised a total of $88 million, including an $18 million Series A in 2019.

Fidel API is a startup that seeks to “enable the future of programmable money.” According to their site, the API can be used to securely connect consumer cards in order to capture purchase data and trigger “event-based experiences” — such as allowing for cashback when purchases are made at select retailers or brands.

Additionally, the service can be used to generate digital receipts, offer spend management, and more. Currently, Fidel’s API is already employed by such platforms as Google Pay, TopCashback, and several others.

Announcing the Series B and commenting on the company’s growth so far, Fidel API CEO Dev Subrata said in a statement, “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.”

Subrata added, “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.”

Elsewhere, Bain Capital Venture partner Merritt Hummer said of the firm’s investment in Fidel, “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.”

At this point, Fidel API may not be on the level of Plaid or other services that might sound similar to them on the surface. However, this significant Series B could well suggest a bright future ahead for the FinTech. What’s more, with major companies like Google already employing their technology, there’s no doubt the startup is finding significant success. All of this makes the company one to watch as a nine-figure Series C now seems all but inevitable in the months ahead.

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...
Summer app

Student Loan Benefit FinTech Summer Raises $6 Million

For years, student debt has been one of the most talked about financial topics. What's more, while the debt itself has become a major part of many Americans' lives, discussion of student loans has become political due to efforts to forgive certain loan repayments. However, while we wait for resolution on that front, a FinTech that brings student debt benefit solutions to employers and consumers has raised a new round...
H-E-B and Central Market  credit cards

Imprint Launches Credit Cards from H-E-B and Central Market 

The FinTech Imprint is partnering with the popular Texas-based grocery chain H-E-B for a pair of new rewards credit cards. This week saw the launch of the H-E-B Visa Signature Credit Card as well as the Central Market Visa Signature Credit Card. With these two (nearly identical) options, customers will be able to earn rewards on groceries and beyond. First, both versions of the card earn up to 5% back on select...
Melissa Urban holding a Ness card

Health and Wellness Rewards Card Ness Partners with Whole30

In recent years, several unique rewards cards have come to market. These include offerings from FinTech startups as well as brands looking to do something special for their loyal fans. On that note, a recently-announced rewards credit card offering is now working with a popular brand to introduce new benefits for customers. This week, the Ness Card (which is issued by The Bank of Missouri) unveiled a new partnership with...
Choice Privileges Select Card

Choice Hotels, Wells Fargo Debut Choice Privileges Select Card

With spring well underway and the summer travel season now just around the corner, Choice Hotels and Wells Fargo have unveiled their latest co-branded credit card offering. Today, the two companies announced the Choice Privileges Select Mastercard. Carrying an annual fee of $95, this card will serve as the premium option in the hotel brand's new lineup. Looking at the Choice Privileges Select, it offers a mix of rewards categories....