● Series B led by Bain Capital Ventures, with participation from existing investors
NYCA Partners, QED Investors and more
● Brings total funding raised to date to $88 million

NEW YORK and LONDON, April 6, 2022 — Fidel API, a global financial infrastructure
platform, today announced it has raised $65 million in Series B funding. The round was led
by Bain Capital Ventures, with participation from existing investors NYCA Partners, QED
Investors and more. It brings Fidel API’s total funding to $88 million since inception.

Fidel API enables developers to create programmable experiences that enhance the value
of using and accepting payment cards. Its platform provides identity, data, and payments
products that allow developers to capture consent permissions and securely connect
payment cards to a service or application. With this infrastructure, developers are able to
create highly contextualized and event-driven user experiences at the point of purchase.
Start-ups through global enterprises, including Google, Royal Bank of Canada and British
Airways, are leveraging Fidel API’s tools to power a range of solutions including digital
receipts, omni-channel attribution, loyalty and rewards, expense management and personal
finance management.
Fidel API’s Series B financing will allow the company to continue to scale its workforce and
product offerings. The company plans to more than double its global headcount to meet
growing demand with a particular emphasis on Engineering, Sales and Product hires. The
added capital will also accelerate investments into existing products, in addition to newer
product capabilities across identity verification, consent management and payments.

“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,” said
Dev Subrata, Chief Executive Officer of Fidel API. “This financing round will help us meet the
ever increasing demand for developer tools that enable programmable money experiences.
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.”

“Fidel API is driving the next wave of financial innovation. We have been exceptionally
impressed by Dev, his team and their mission to enable the future of payment experiences
through their infrastructure,” said Merritt Hummer, Partner at Bain Capital Ventures. “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.”

Since launching in 2018, Fidel API has experienced tremendous growth, more than doubling
the size of its workforce over the past twelve months and entering markets across North
America, Europe, Asia Pacific and the Middle East. Fidel API is currently powering services
for millions of cardholders and hundreds of thousands of merchants around the world.

About Fidel API

Fidel API is a global financial infrastructure platform that enables developers to build
programmable experiences connected with real-time payment events from a user’s card.
Startups through global enterprises are leveraging Fidel API’s tools to power a range of
solutions including digital receipts, customer attribution, loyalty and rewards, expense
management and personal financial management.
Launched in 2018, Fidel API is headquartered in London, with offices in Lisbon, New York,
and remote employees globally. Fidel API is backed by investors including Bain Capital
Ventures, Nyca Partners, QED Investors, Citi Ventures, RBC Capital and Commerce
Ventures.
For more information, visit https://fidelapi.com

About Bain Capital Ventures
Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market.
BCV invests from seed to growth in startups driving transformation across industries, from
SaaS, infrastructure software and security to fintech and healthcare to commerce and
consumer tech. The firm has helped launch and commercialize more than 395 companies,
including Attentive, Digital Currency Group, DocuSign, Flywire, Jet.com, LinkedIn, Redis
Labs, Rent the Runway, SendGrid, and SurveyMonkey. BCV has $10 billion in assets under
management with offices in San Francisco, New York, Boston, and Palo Alto. Follow the firm
via LinkedIn and Twitter.