Synctera, the Banking-as-a-Service Innovator, Raises $15 Million to Transform Financial Solutions

Synctera, the Banking-as-a-Service Innovator, Raises $15 Million to Transform Financial Solutions

Synctera, a prominent name in the banking-as-a-service (BaaS) sector, has recently announced a new funding round of $15 million. This capital injection cements the company’s position as a leader in providing embedded finance solutions, helping businesses develop and scale innovative banking products.

Funding Details and Strategic Partnerships

The funding round was co-led by Fin Capital and Diagram Ventures, with participation from First & Main, Evolution, and True Equity. With this latest investment, Synctera’s total funding reaches an impressive $94 million.

Expanding Capabilities

Synctera’s platform enables businesses to seamlessly integrate financial services while maintaining compliance with regulatory standards. The fresh funding will be directed towards:

  • Accelerating Growth: Expanding services to cater to larger clients with complex needs.
  • Enhancing Technology: Improving capabilities to offer innovative solutions in embedded finance.
  • Strengthening Risk Management: Collaborating with Hawk, a leader in AI-powered anti-money laundering (AML) and counter-financing of terrorism (CFT) solutions.

Leadership Insights

Peter Hazlehurst, Synctera’s co-founder and CEO, expressed his enthusiasm about the company’s growth trajectory, stating, “We are very pleased to earn the trust of increasingly larger and more complex customers and partners. The ongoing evolution of our business and steadfast support of our investors enable us to continue to drive scalable growth and excellence for our customers and community of banks.”

Logan Allin, managing partner and founder of Fin Capital, added, “Fin Capital has supported the Synctera team since its very early days. Their laser focus on doing things the right way, putting banks and end customers first, is why they’ve been able to build a world-class banking platform.”

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Future Prospects

With the new investment and strategic partnerships underway, Synctera is poised to continue its upward trajectory in the banking-as-a-service and embedded finance markets. This reaffirms the company’s commitment to innovation and excellence in providing tailored financial solutions.

For more information about Synctera and its offerings, visit their official website at Synctera.

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