Synctera raises $24.5M to strengthen balance sheet and fund path to break-even
Embedded finance platform Synctera has raised $24.5M, bringing its total funding to $126.7M. The company says the financing will strengthen its balance sheet and provide runway to break even as it adds sponsor banks and FinTech customers.
- Raised
- $24.5M
- Investors
- 5
- Investors
- Multiplier CapitalFin Capital1st & Main Growth PartnersDiagramNAventures
- Target market
- Sponsor banks and FinTechs
- Use of funds
- Supporting work with sponsor banks and FinTechs, strengthening the balance sheet and providing runway to break even
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Quick Answers
What is the latest news about Synctera?
Embedded finance platform Synctera has raised $24.5M, bringing its total funding to $126.7M. The company says the financing will strengthen its balance sheet and provide runway to break even as it adds sponsor banks and FinTech customers.
What does Synctera do?
Launched in 2020 and based in San Francisco, Synctera provides an embedded finance, banking and payments platform. It helps companies build banking products and gives sponsor banks tools to manage compliant partnerships.
How much did Synctera raise?
Synctera raised $24.5M.
Who invested in Synctera?
Investors named in this round include Multiplier Capital, Fin Capital, 1st & Main Growth Partners, Diagram and NAventures.
How will Synctera use the funding?
Synctera plans to use the money for supporting work with sponsor banks and FinTechs, strengthening the balance sheet and providing runway to break even.
Where is Synctera based?
Synctera is based in USA.
Who are the key people at Synctera?
Key people named in this report: Peter Hazlehurst (Co-founder and CEO).