Synctera, a leading provider of banking-as-a-service (BaaS) and embedded finance solutions, has secured $15m in fresh funding.
The company, which helps firms build and scale banking products, also announced a major customer win with Bolt, an industry leader in one-click online checkouts.
The funding round was co-led by Fin Capital and Diagram Ventures, with additional participation from First & Main, Evolution, and True Equity. This latest investment brings Synctera’s total funding to date to $94m.
Synctera offers a platform that enables companies to develop and integrate financial services while ensuring compliance with regulatory requirements.
With the fresh capital, the company aims to accelerate its growth and enhance its capabilities to serve larger clients with more complex needs.
Beyond its expansion in embedded finance, Synctera has also strengthened its position in financial crime risk management by partnering with Hawk, a company specialising in AI-powered AML and CFT solutions.
Peter Hazlehurst, co-founder and CEO of Synctera, said, “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.”
Fin Capital managing partner and founder Logan Allin 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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