San Francisco-based banking-as-a-service platform, Synctera, has announced that it has raised $18.6 million in an extended Series A funding round. This brings the total amount raised in the Series A round to $33.6 million.
The funding round was led by Lightspeed Venture Partners, with participation from existing investors like Citi Ventures, Diagram Ventures, and Trinity Ventures. The additional funding will be used to accelerate Synctera’s growth and expand its platform offerings.
What is Synctera?
Synctera is a banking-as-a-service platform that connects community banks and FinTech companies to offer a seamless banking experience to their customers. The platform provides a range of banking services, including account opening, debit cards, payments, and compliance solutions.
Since its launch in 2020, Synctera has quickly gained traction in the market and has partnered with numerous community banks and FinTech companies to power innovative financial products and services.
CEO’s Comments
Commenting on the funding round, Peter Hazlehurst, CEO and co-founder of Synctera, said: “We are thrilled to have the support of Lightspeed Venture Partners and our existing investors as we continue to revolutionize the banking industry. This additional funding will enable us to further expand our platform and bring even more value to our customers.”
With the new capital injection, Synctera is well-positioned to capitalize on the growing demand for banking-as-a-service solutions and drive innovation in the financial services industry.
About Synctera
Synctera was founded in 2020 by Peter Hazlehurst, co-founder of Coda Payments and former head of Uber Money, along with Kris Hansen, a former Google executive. The company is on a mission to empower community banks and FinTech companies to offer modern banking services to their customers through its innovative platform.
For more information about Synctera and its banking-as-a-service platform, visit https://www.synctera.com/.