BaaS startup Synctera raises $15M, signs Bolt as a customer

The banking-as-a-service space took a hit last year when Synapse collapsed. But that hasn’t stopped BaaS startup Synctera from raising another $15 million in funding, it tells TechCrunch exclusively. Synctera works to provide companies “of all shapes and sizes with everything they need to launch and operate fintech and embedded banking products,” including: accounts, cards, and payment products, said CEO and co-founder Peter Hazlehurst. Fin Capital and Diagram co-led the Series A extension round, which brings Synctera’s total equity raised since its 2020 inception to $94 million. Other existing investors include Lightspeed Venture Partners, NAventures, Banco Popular, Mana Ventures, Evolution, True Equity, and 1st and Main. Hazlehurst declined to reveal the company’s valuation. As for business fundamentals, he said he expected the latest capital infusion to get Synctera “to breakeven” by early 2026. The company saw an 80% increase in revenue and a 230% increase in gross profit year- ... Read full article.