Synctera Raises $33 Million in Series A Funding

Fazzaco learned that Synctera, a banking company that offers secure and scalable partnership banking solutions for startups and fintech, has raised $33 million in a Series A funding round, led by Fin VC with participation from Lightspeed Venture Partners, Diagram Ventures, Portage Ventures, SciFi Ventures, and Scribble ventures as well as several new strategic investors, including Mastercard, Omri Dahan (Former Chief Revenue Officer, Marqeta), Nuno Sebastiao (Chairman and CEO, Feedzai), Tim Sheehan (Co-Founder and CEO, Greenlight), Tom Williams, Johnny Ayers (CEO, Socure) and more. So far, the company has raised over $46.5 million.

According to the official press release,  the company will use the investment to meet the demand for Synctera’s solution by expanding its software engineering team to rapidly accelerate the development of its product roadmap, ramping up sales and marketing to build and capture market demand, and prepare for a future international expansion. Synctera plans to grow its team to over 150 by the end of the year.

Synctera is also announcing its commitment to the Cap Table Coalition alongside other high-growth startups by allocating 10% of all funding rounds to traditionally marginalized investors. Gaingels, Neythri Futures Fund, Plexo Capital and over 20 angels participated in Synctera’s series A as a part of the coalition. 

Founded in 2020, Synctera enables community banks and FinTechs to create new growth opportunities by forging scalable partnerships without the hassle. For banks, Synctera streamlines day-to-day reconciliation, operations and regulatory compliance, while allowing FinTechs to launch faster with more choice via a one-stop-shop API. With Synctera, community banks can focus on serving their communities and local customers, while Synctera matches them with a FinTech to help both partners scale and grow.