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The area of banking services was achieved as a success service last year when The clamp collapsed. But this did not prevent the Baaas Startup Synctera from collecting another $ 15 million of financing, it tells Techcrunch exclusively.
Synctera The CEO and co -founder Peter Hazlehrest said that the work to provide companies “among all shapes and sizes with everything they need to launch and operate the compact banking products and the integrated facility,” including: accounts, cards and payment products.
Finactal and Diagram participated in the leadership of the Series Extension Tour, which brings the total rights of Synctera, which has been raised since its appearance to 2020 to 94 million dollars. Among the other current investors are Vinterpeed Venture Partners, Navertures, Banco Popular, Mana Ventures, Evolution, True Equity, 1st and Main.
Hazersrest refused to disclose the company’s evaluation. Regarding the basics of business, he said that he expected the latest capital leakage on “Synctera” to a tie “by early 2026.
The company has seen an 80 % increase in revenue and a 230 % increase in total profit on an annual basis for the fiscal year ending January 31, according to Hazlehurst. Its 31 customers include Bolt Bolt and Webull, fruitful and united signal, and FirstCard, among other things. In SYNCTERA 416,000 final users on his primary system, Hazurrest said it has risen more than 3x compared to last year.
He said that the largest discrimination of the company lies in compliance.
“While all of our competitors provide the API layer needed to launch Fintech and integrated banking products, the main distinction of Synctera lies in the tools and infrastructure that we provide to customers and banks to manage compliance and continuous operations.”
Nowadays, there are about 90 employees at the same time as it was last year. Hazrrest said he is proud of the fact that the company “is able to approximately 2x the company without the need for gradual employees.”
The company reaps money in several ways, including imposing fees on the monthly platform and fees based on the professor’s book, accounts, transactions, fraud control and KYC/KYB (Learn about your customer and know your work). It also gets the share of revenue on exchange and benefits on deposits.
As for the effect Clash collapseHazars says a disaster that hurts me in some respects and helped in others.
“We have seen a number of technologies coming to us in search of solutions and a path to immigration to a new banking relationship,” Techcrunch told Techcrunch.
“I have always been built with consumers and banks in mind first and foremost. What we have seen with the clamp and evolution clearly did not follow this approach, which was, which is horrific to see the tremendous influence on real people and their money.”
From the perspective of industry, the entire situation had a “material influence” on the technology of new technology that is funded and new banks that enter the ecosystem, from Hazrrest’s point of view.
It slowed down and caused caution in the market as a whole. Certainly we see more in -depth due care operations with new partners, banks and clients, and I think it is ultimately good for consumers and industry as a whole. “
SYNCTERA has recently signed a strategic partnership with Hawk, a company that uses artificial intelligence to combat financial crimes such as money laundering.
Looking forward, the new financing will partially go to the expansion of the three -sales team in addition to the development of products, according to Hazelst. The start starting also sees a great opportunity to expand in Latin America, where she has seen a lot of demand and has two adult customers.