INSUBCONTINENT EXCLUSIVE:
Fidel, the U.K.-headquartered startup that offers an API to let developers build functionality, such as rewards, on top of the major card
payment networks, has raised $18 million in Series A funding.The pretty sizeable round is co-led by United States -based fintech funds Nyca
Partners and QED Investors
Also participating are Citi Ventures, Commerce VC, Elefund, Horizons Ventures, RBC Ventures Inc
(a subsidiary of Royal Bank of Canada) and 500 Startups
Several angel investors also joined in, such as Cris Conde, former CEO of Sungard, and Taavet Hinrikus, founder of TransferWise.Meanwhile,
Hans Morris, former president of Visa and managing partner of Nyca Partners, and Yusuf Ozdalga, partner at QED Investors, will join the
international ambitions in North America, the Nordics and APAC.Working in partnership with Mastercard, Visa and American Express, put
innovative use-cases afforded by access to the real-time data that card payment networks can provide.Not only does Fidel offer a single
compliance from its customers by securely tokenising card numbers
This typically sees a user sign up to a loyalty program, where they can earn points, rewards and cash back automatically when they pay using
Of course, with any such loyalty app, cards are only linked when a user opts in.One example of Fidel-powered card-linking is the British
Airways Executive Club app that lets members earn Avios points automatically when they shop with any linked credit or debit card at
card network data is real-time and granular
Card-linking is also frictionless for the user, who registers their card once and shops as usual
solutions, as the choice of data source is generally dependent on the specific use case
