About Synctera
Synctera provides a platform for businesses to create and launch their own banking and financial products through Banking as a Service (BaaS). It uses secure application programming interfaces (APIs) to give access to necessary technologies, along with comprehensive documentation to assist in development. Unlike its competitors, Synctera partners with sponsor banks to handle the actual banking services, allowing businesses to focus on their product vision. The goal is to enable companies to offer banking services without becoming banks themselves.
San Francisco, CaliforniaHeadquarters
2020Year Founded
$86.6MTotal Funding
DEBTCompany Stage
Fintech, Financial ServicesIndustries
51-200Employees
Benefits
Health Insurance
Health Savings Account/Flexible Spending Account
401(k) Retirement Plan
Mental Health Support
Unlimited Paid Time Off
Home Office Stipend
Stock Options
Risks
Increased regulatory scrutiny may slow Synctera's growth and operations.
Recent layoffs suggest potential financial instability or strategic shifts.
Competitive BaaS landscape pressures Synctera to innovate and maintain market share.
Differentiation
Synctera offers a unified API platform for launching diverse financial products.
The company partners with sponsor banks to provide comprehensive banking services.
Synctera's platform supports both US and Canadian markets, enhancing its geographical reach.
Upsides
Growing demand for embedded finance boosts Synctera's market potential.
Open banking initiatives align with Synctera's fintech-bank partnership model.
Digital transformation in banking creates opportunities for Synctera's agile solutions.
Funding
Total raised$86.57 M
Latest valuation$50.00 M
StageDEBT
EARLY VC
11/30/2024$10
$50.00 MDEBT
11/30/2024$10
$12
$62.00 M