London fintech Fidel raises $18m Series A

Josh Hall's picture

Fidel, a London-based startup that lets developers build new tools over major card payment networks, has raised $18 million in Series A funding.

The company has developed a series of APIs that allow developers to link users' accounts to apps, providing a way to build new applications such as loyalty schemes.

Loyalty apps could enable users to collect points or rewards automatically, using any registered card.

Using Fidel's tools, these apps could allow for the collection of loyalty points regardless of the type of card being used or the bank with which the account is held.

Fidel says developers can build applications of this sort "within minutes", and that they can use real-time data provided from the payment cards linked via the APIs.

The company already has agreements in place with the three major card networks: Mastercard, Visa, and American Express.

As TechCrunch report, the Series A round was led by US fintech funds Nyca and QED. Angel participants also included Transferwise founder Taavet Hinrikus.

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