Synctera

Synctera Partners with LoanPro to Offer End-to-End Banking and Credit Card Products

BaaS provider Synctera announced a partnership with lending platform LoanPro to deliver an integrated solution for banking and credit card products. The collaboration enables fintechs and banks to launch deposit and credit offerings via a unified platform. The partnership includes sponsor bank visibility, compliance, and regulatory support, streamlining the path for embedded finance programs.

BaaS Provider Synctera Raises $15M and Signs Bolt as Largest Customer

BaaS provider Synctera secured $15 million in funding and signed Bolt as its largest customer to date. The funding supports Synctera's continued growth in providing banking-as-a-service infrastructure connecting fintechs with partner banks. Bolt's addition represents a major enterprise win for the platform.

Synctera Publishes 'Getting BaaS Right' Compliance Guide for Sponsor Banks

Synctera released a guide titled 'Getting BaaS Right' outlining six principles for compliant sponsor bank-fintech partnerships. The guide was published amid a wave of consent orders and heightened regulatory scrutiny in the BaaS industry. It aims to help banks and fintechs build sustainable, compliant embedded finance programs.

Synctera Raises $18.6M to Expand Embedded Banking and Finance Platform

Synctera announced $18.6 million in funding to support its embedded banking and finance expansion. The BaaS platform connects fintechs with partner banks to launch financial products. The funding will support growth initiatives and expansion in the U.S. market.

Synctera Raises $18.6M Series A-1 Extension for US Expansion

Synctera announced an $18.6 million Series A-1 extension co-led by Lightspeed and Fin Capital. The funding supports the BaaS platform's US expansion and its push to serve larger customers. The round underscores continued investor interest in banking-as-a-service infrastructure despite broader fintech market headwinds.

Synctera Launches SyncteraPay Embedded Banking Payment Platform

Synctera introduced SyncteraPay, an end-to-end embedded banking platform feature enabling seamless integration with any payment provider. The platform supports partners like Checkbook and Method to power fintech and embedded finance applications. This launch expands Synctera's BaaS capabilities beyond core banking into payments orchestration.

Synctera Launches Embedded Banking Platform in Canada

Synctera launched its embedded banking platform in Canada, enabling fintechs to offer banking products through Canadian bank partners. This expansion brings Synctera's BaaS model north of the US border, opening a new market for embedded finance in Canada.

Alpha Modus Partners with Synctera for BaaS Infrastructure

Alpha Modus Financial Services entered into an agreement with Synctera to provide banking-as-a-service infrastructure for its Alpha Cash platform. The deal supports sponsor banking relationships and compliance frameworks. The partnership was disclosed in Alpha Modus Holdings' 10-K annual report for the fiscal year ended December 31, 2023.

Stearns Bank Partners with Synctera to Expand BaaS Offerings

Synctera announced a partnership with Stearns Bank National Association to add the bank to its community of sponsor banks. Stearns Bank, a veteran in banking-as-a-service, will leverage Synctera's end-to-end BaaS platform including APIs, compliance support, accounts, cards, lending, and money movement. The deal expands Stearns Bank's BaaS-driven business, particularly in nonprofit banking solutions.

Synctera Raises $15 Million to Launch Embedded Products in Canada

Synctera raised $15 million in funding to expand its BaaS platform into Canada with embedded financial products. The raise signals the company's international expansion beyond the U.S. market. The funding supports Synctera's strategy to serve fintechs looking to offer banking products in the Canadian market.

Synctera Raises $15.5M Series A Extension for BaaS Sponsor-Bank Network

Synctera, a BaaS platform that builds sponsor-bank networks, raised $15.5M in a Series A extension led by Andreessen Horowitz (a16z) and Neo. The round brought total funding to $36M. The investment came amid growing regulatory scrutiny on BaaS partnerships and sponsor-bank relationships.

Synctera Launches BaaS Industry's First Line of Credit Product

Synctera launched the BaaS industry's first Line of Credit product on September 20, 2022, enabling fintechs to offer credit products through its embedded finance platform. The product expands Synctera's toolkit beyond deposit accounts and cards into lending. This marks a significant step in broadening the range of financial products available through BaaS platforms.

OCC Intensifies Scrutiny of BaaS Banks Including Blue Ridge Bank

The OCC took enforcement action against Blue Ridge Bank (a Unit partner) for inadequate oversight of its fintech partnerships, signaling heightened regulatory focus on BaaS arrangements. The action highlighted risks when banks rely on middleware platforms to manage fintech relationships. This marked a significant escalation in regulatory pressure on the BaaS model, affecting platforms like Synctera, Unit, Treasury Prime, and others.

Synctera Launches Card and Fraud Products, Signs Plaid, Feedzai, Finix

Synctera launched Synctera Card and Synctera Fraud, enabling fintechs and their sponsor banks to issue debit cards and process transactions. The company signed strategic partners including Plaid, Feedzai, and Finix and expanded its sponsor bank network to include CFSB as its fourth partner bank. The launch builds on its Cards API partnership with Marqeta and Mastercard announced in August 2021.

Synctera Signs Community Federal Savings Bank for BaaS Marketplace

Synctera signed Community Federal Savings Bank (CFSB) onto its bank-fintech marketplace platform. The partnership enables CFSB to connect with fintechs through Synctera's BaaS infrastructure, supporting scalable banking partnerships.

Synctera Partners with Marqeta and Mastercard, Launches Card API

Synctera announced partnerships with Marqeta and Mastercard and launched a Card API enabling Cards-as-a-Service. The offering allows fintechs and community banks to quickly issue debit card programs. A full Cards-as-a-Service rollout was planned for fall 2021, expanding Synctera's BaaS capabilities.

Synctera Adds Regent Bank as BaaS Sponsor Bank Partner

Synctera announced Regent Bank as a new community banking partner for its BaaS platform, joining existing partners Coastal Community Bank and Lineage Financial Network. The partnership expands Synctera's sponsor bank network as it targets 15 community bank partners by end of 2021. Regent Bank, based in Oklahoma, aims to grow its fintech servicing capabilities through the marketplace.

Synctera Raises $33M Series A, Partners with National Bank of Canada

BaaS startup Synctera raised a $33 million Series A led by Fin VC, with participation from sponsor bank partners Veritex Community Bank, Midland States Bank, and Emigrant Bank. The company also announced a partnership with National Bank of Canada to help companies launch fintech apps and embedded banking products in Canada. Synctera emphasized a multibank structure to address BaaS pain points and regulatory concerns.

Synctera Raises $33M Series A for BaaS Platform and Canada Expansion

Synctera raised $33 million in a Series A round in June 2021 to grow its BaaS platform, followed by a $15 million extension earmarked for launching embedded banking products in Canada. The funding positions Synctera as a key player in the BaaS middleware space connecting fintechs and community banks.