Synctera, a leader in banking-as-a-service and embedded finance, announced a $15 million round of funding, bringing the company’s total raised to date to $94 million. Fin Capital and Diagram Ventures co-led the funding round, with participation from other existing investors, including First & Main, Evolution, and True Equity.
This new funding will support accelerating its growth and ability to meet the more complex needs and increase the scale of its latest customers, such as Bolt and Unified Signal.
Along with the latest funding, the firm has announced the signing of its largest customer to date, Bolt, an industry-leading fintech that facilitates one-click online checkouts. With support from its bank partner, Midland States Bank, the company will soon offer financial services to consumers.
Bolt’s end-user profile and the recently launched Alliant Insurance Services program with customer Unified Signal mark a period of rapid scaling in the consumer sector, which complements Synctera’s leadership position in the enterprise space.
Synctera partnered with Hawk, a pioneer in using AI to fight financial crime. Integrating Hawk’s best-in-class AML and CFT technology into its core platform further solidifies Synctera’s position as the category leader in risk management and compliance.
KEY QUOTES:
“We’re very pleased to continue to be on board once again and support Synctera’s continued mission to power financial innovation for companies of increasing size like Bolt and Unified Signal in new and exciting ways.”
- Fin Capital partner and Synctera board member Frédéric Latreille
“This is a vote of confidence that enables us to continue to drive scalable growth and excellence for our customers and community of banks.”
- Peter Hazlehurst, co-founder and CEO of Synctera
“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.”
- Fin Capital Managing Partner & Founder and Synctera board member Logan Allin
“Bolt has always been incredibly driven to deliver the absolute best online checkout experience for consumers of some of the largest brands on the planet. We’re excited to partner with Synctera to arm brands with more ways to engage with their customers.”
- Bolt’s founder and CEO Ryan Breslow
“The reason we built Hawk was because we wanted to combine AML & Fraud use cases in one platform. Native, Explained AI and our capability to handle largest volumes in real-time position us well to support Synctera’s growth plans, which we love to be part of.”
- Tobias Schweiger, co-founder and CEO of Hawk
“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.”
- Peter Hazlehurst, co-founder and CEO of Synctera
