Synctera raises $24.5M to expand banking infrastructure for fintechs
The San Francisco BaaS platform raised about $9.5M in equity and the remainder in venture debt; its CEO says it could break even in early 2027.
By RuntimeWire Staff · Published
Primary source: Business Wire
Why it matters
Synctera's round tests whether BaaS can return after the Synapse collapse with the middleware provider taking direct responsibility for ledgers, reconciliation and continuous compliance testing.
Peter Hazlehurst has seen the hard version of embedded finance from inside Uber. Even with Uber's engineers, lawyers and bank relationships, building financial products took multiple teams and years. The experience led Hazlehurst to conclude that smaller companies had no practical way to launch such products, he said in interviews about Synctera's founding thesis.…
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