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 U.S.-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 company’s board.
Fidel says the new funding will be used to expand