Synapse

Provides banking platform via APIs

San Francisco, California, United States

About Synapse

Synapse Financial Technologies offers a banking platform that helps businesses create and launch financial products without needing to build their own infrastructure. The company provides APIs that allow clients to integrate various financial services, such as issuing loans, processing wire transfers, and managing payment systems like ACH and debit cards. These APIs are designed to be easy for developers to use, enabling quick implementation of financial services. Synapse differentiates itself from competitors by focusing on a flexible, developer-friendly approach and a business model that generates revenue through subscription and transaction fees. The goal of Synapse is to empower businesses to offer financial products efficiently while handling the complexities of financial services.

San Francisco, CaliforniaHeadquarters
2014Year Founded
$49.3MTotal Funding
SERIES_BCompany Stage
Fintech, Financial ServicesIndustries
51-200Employees

Benefits

401k Company matching contribution
Parental leave & family support
Medical, dental & vision benefits
Life insurance & LTD
Flexible location, remote-friendly
PTO and Holidays

Risks

Increased regulatory scrutiny could raise operational costs and limit business flexibility.
Bankruptcy has led to a loss of trust among partner banks and clients.
Ongoing FDIC enforcement actions against partner banks may disrupt Synapse's services.

Differentiation

Synapse offers developer-friendly APIs for quick financial service integration.
Their platform supports a wide range of services like loans and wire transfers.
Synapse enables fintechs to offer banking services without building infrastructure from scratch.

Upsides

Growing demand for developer-friendly APIs in fintech boosts Synapse's market potential.
Expansion potential in international markets as global fintech adoption increases.
Opportunity to strengthen partnerships with banks seeking to modernize services.

Funding

Total raised$49.32 M
Latest valuation$165.00 M
StageSERIES_B
$17
$85.00 M
SEED
2/28/2015
$1
$3.50 M