US-based banking-as-a-service and embedded finance provider Synctera has secured a $15 million funding round, co-led by Fin Capital and Diagram Ventures, and has signed its largest customer to date, Bolt.
Synctera will use the new funding to support its growth trajectory, as well as to meet the more complex needs and growing scale of its latest customers, including US fintech Bolt.
Existing investors First & Main, Evolution, and True Equity also participated in the funding round, which takes Synctera’s total amount raised to date to $94 million.
Peter Hazlehurst, co-founder and chief executive officer of Synctera called the funding round “a vote of confidence” which will enable it to continue “to drive scalable growth and excellence for our customers and community of banks”.
Frédéric Latreille, partner at Diagram Ventures and a member of the board of Synctera, said: “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 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,” added Fin Capital founder and managing partner, and Synctera board member Logan Allin.
Synctera’s newest customer Bolt specialises in facilitating one-click online checkouts.
Bolt plans to begin offering financial services to consumers with support from its bank partner Midland States Bank.
Bolt’s founder and chief executive officer Ryan Breslow said that, by partnering with Synctera, it will be able to “arm brands with more ways to engage with their customers”.
In addition to the funding round and new customer, Synctera has formed a partnership with Hawk, which uses AI to fight financial crime.
Open Banking Expo USA will take place on June 26, 2025, at the Hilton Midtown in New York, with headline partner Mastercard. Find out more about the speakers, agenda, and partners, and register to attend here.
