Synctera, a leading banking-as-a-service (BaaS) provider, has recently secured a $15 million funding round co-led by Fin Capital and Diagram Ventures, bringing its total capital raised to $94 million.
This investment aims to accelerate Synctera’s growth and enhance its ability to meet the complex needs of its expanding customer base.
In a significant development, Synctera has onboarded Bolt, a prominent fintech company known for its one-click online checkout solutions, as its largest customer to date. Through a partnership with Midland States Bank, Bolt plans to offer financial services to consumers, leveraging Synctera’s robust BaaS platform to enhance its service offerings.
Additionally, Synctera has partnered with Hawk, a pioneer in AI-driven financial crime prevention. By integrating Hawk’s advanced anti-money laundering (AML) and counter-financing of terrorism (CFT) technology into its core platform, Synctera aims to bolster its risk management and compliance capabilities.
Peter Hazlehurst, co-founder and CEO of Synctera, expressed satisfaction with the company’s progress, stating, “We are very pleased to earn the trust of increasingly larger and more complex customers and partners.” He emphasized that the continued support from investors enables Synctera to drive scalable growth and deliver excellence for its customers and banking community.
This funding round and the addition of significant customers like Bolt underscore Synctera’s leadership position in the BaaS and embedded finance sectors. The company’s commitment to innovation and compliance positions it well to continue supporting a diverse range of fintech applications and embedded banking products.
