Fintech Fidel API raises $65 million in new investment round

  • ECO News
  • 7 April 2022

By the end of the year, the fintech intends to more than double the number of employees at the hub in Lisbon, from 52 to more than 104 people.

With offices in London and New York and a technology hub in Lisbon, Fidel API is looking for Portuguese talent to join the local engineering, product and design team. The aim is to more than double the number of employees in the Portuguese capital by the end of the year, from 52 to more than 104 people. The hiring ambitions follow a new $65 million (almost €60 million) Series B funding round.

“Today, thousands of developers are using the Fidel API platform to build real-time payment experiences that deliver new value to consumers and businesses around the world,” says Dev Subrata, CEO of Fidel API.

“This funding round will allow us to continue our growth plan, grow our team globally and meet the ever-increasing demand for development tools that make it possible to create programmable money experiences,” he adds in a statement.

With this new round of investment – led by Bain Capital Ventures and with participation from investors NYCA Partners, QED Investors, among others – the company’s total funding now amounts to $88 million. Besides attracting talent, the capital raised will also enable further investment in existing products, as well as the development of new solutions related to identity verification, consent management and payments.

“In the last 12 months, we have expanded our global team by more than double, a goal we intend to replicate this year in Portugal, positioning ourselves in the market with a differentiating culture that values flexibility and trust. We offer various benefits that stimulate the creativity and motivation of employees,” says the head of engineering, Carlos Vilhena.