Synctera Secures $18.6M for Global Expansion
March 8, 2024, 4:45 pm
Location: United States, California, San Francisco
Employees: 51-200
Founded date: 2020
Total raised: $94M
Synctera, a key player in embedded banking and finance, has just announced an $18.6 million extension to its Series A funding round. Lightspeed and Fin Capital are leading the charge, with support from previous investors NAventures and Diagram, as well as new backers Banco Popular and Mana Ventures.
This funding boost marks Synctera's second extension since its initial $33 million Series A round in June 2021. The company's expansion efforts have already reached Canada, with plans to further grow internationally.
In addition to the financial injection, Synctera has welcomed Leigh Gross as its new chief revenue officer, bringing valuable experience from fintech companies Array and Summer. The company's focus remains on expanding its reach globally, with recent partnerships in Latin America and Africa.
CEO Peter Hazlehurst emphasizes the importance of stringent compliance standards in the industry, setting a high bar for potential partners. As Synctera navigates the competitive landscape of Banking as a Service, its commitment to regulatory adherence and quality service sets it apart.
While Synctera forges ahead with new funding and strategic alliances, other players in the BaaS market face challenges. Synapse, Solid, Blue Ridge Bank, Choice Bank, and Lineage Bank have all encountered setbacks, highlighting the importance of resilience and adaptability in the financial technology sector.
As Synctera continues to innovate and expand its global footprint, the company's dedication to excellence and regulatory compliance positions it as a leader in the evolving landscape of embedded banking and finance.
This funding boost marks Synctera's second extension since its initial $33 million Series A round in June 2021. The company's expansion efforts have already reached Canada, with plans to further grow internationally.
In addition to the financial injection, Synctera has welcomed Leigh Gross as its new chief revenue officer, bringing valuable experience from fintech companies Array and Summer. The company's focus remains on expanding its reach globally, with recent partnerships in Latin America and Africa.
CEO Peter Hazlehurst emphasizes the importance of stringent compliance standards in the industry, setting a high bar for potential partners. As Synctera navigates the competitive landscape of Banking as a Service, its commitment to regulatory adherence and quality service sets it apart.
While Synctera forges ahead with new funding and strategic alliances, other players in the BaaS market face challenges. Synapse, Solid, Blue Ridge Bank, Choice Bank, and Lineage Bank have all encountered setbacks, highlighting the importance of resilience and adaptability in the financial technology sector.
As Synctera continues to innovate and expand its global footprint, the company's dedication to excellence and regulatory compliance positions it as a leader in the evolving landscape of embedded banking and finance.