Fidel raises £14.6m Series A funding co-led by Nyca Partners and QED Investors
The investment round was co-led by Nyca Partners and QED Investors to support international expansion and product development.
Fidel provides an API that connects developers directly to major card networks for real-time payment data and compliance management. Its technology enables brands like British Airways and Klarna to build financial services more quickly.
Fidel has raised £14.6m in a Series A funding round co-led by US-based venture firms Nyca Partners and QED Investors. The capital will be deployed to expand the team and accelerate product development and international growth across North America, the Nordics and the Asia Pacific region. Additional participants in the oversubscribed round include Commerce VC, Elefund, Horizons Ventures, 500 Startups and several angel investors.
From the founder
"Though the card networks have built extremely robust infrastructure, alternative payment methods are evolving and consumer choice will be driven by value. Our goal at Fidel is to supercharge innovation by empowering everyone in the ecosystem. By making it easy for developers to build on top of the infrastructure, the card networks stay relevant. By removing the barriers to entry for developers, applications can be brought to market more quickly. That drives value back to consumers, who get the same benefits and user experience they are used to receiving with other online services."
Subrata Dev
Founder and CEO at Fidel
Investor perspective
"Fidel provides a completely original approach for fintech innovators to create new products by opening up access to the world’s three largest payment networks. This company has seen very impressive traction and customer adoption, and we think is poised to be a breakout fintech success story."
Hans Morris
Managing Partner, Nyca Partners
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
