UK Fintech Fidel Enters United States, Opens NY Office

Fidel, a UK-headquartered financial API provider, has announced on Thursday the establishment of its New York office to facilitate its further expansion in North America.

The Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term already expanded its business beyond its home last year to the Nordic countries and Canada.

“We decided to accelerate our plans to expand to the US due to the surge in demand for our services in the last few months,” Dev Subrata, CEO and founder of Fidel, said. “US businesses are increasingly looking at how they can use payment data to drive engagement by providing new services and experiences. This, together with the size of the US market, made it a natural choice for our third international office.”

Another rising fintech startup

Fidel offers real-time card payment data and is working in partnership with three major payment networks - Visa, Mastercard, and American Express. Its suite of APIs directly connects the user’s payment card to an app, thus allowing developers to connect card-linked applications like loyalty-based rewards.

The company made headlines last year after securing $18 million in a Series A Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term from both venture capital and angel investors including Citi Ventures, Horizons Ventures, and Taavet Hinrikus, founder of TransferWise.

At its New York office, Fidel appointed Patrick Nealon as vice president of strategy to support its US growth initiatives.

“There is a massive opportunity for Fidel to meet demand from American firms keen to use our API. The size and dynamics of the US market make the States a great destination for European fintechs as well,” Nealon added.

“I'm excited to support the progress already made in North America by my Canadian colleagues and I look forward to seeing what our partners will build on top of our API.”

The fintech also inked local partnership deals with Beyond, BAMit, giveback2schools, and Twism.

“We launched the Chip-In program as a way of helping to restart local economies across America and support the #ShopLocal movement. Fidel’s API made it easy for us to access real-time payment data from the card networks, enabling consumers with a seamless way of earning rewards simply by using their credit or debit card,” Bob Carr, CEO of Beyond, said.