Fidel API Raises $65M Series B for Card-Linked Infrastructure APIs

Fidel API, a London-based fintech infrastructure provider, closed a $65 million Series B funding round on April 6, 2022, led by Bain Capital Ventures. Existing investors NYCA Partners, QED Investors, Citi Ventures, RBC Capital, and Commerce Ventures also participated, bringing the company's total funding to $88 million since inception. Fidel API's platform enables developers to securely connect payment cards to applications via APIs, supporting contextualized, event-driven experiences triggered at the point of purchase.

The company did not disclose its valuation. The raise came during a period of broader venture funding slowdown, with Q1 2022 global VC funding dropping 13% quarter-over-quarter to $160 billion. Despite this cooling, fintech infrastructure remained a bright spot, with 35 new fintech unicorns announced in Q1 2022, outpacing the pace set in 2021.

The funding positions Fidel API to expand its banking infrastructure offering that sits at the intersection of payments data, identity, and embedded finance capabilities.