Synctera Raises $33 Million to Connect Fintech Firms with Banks

Synctera, the US-based company connecting financial technology companies with banks, recently announced that it has raised $33 million in the Series A funding round to accelerate growth.

According to the official press release, Lightspeed Venture Partners, Diagram Ventures, Portage Ventures, SciFi Ventures, and Scribble participated in the latest funding round along with new strategic investors including Mastercard.

The company closed its seed funding round in December 2020 with participation from Lightspeed Venture Partners and Diagram Ventures. The recent Series A funding round means that the company has raised a total of $46.5 million to date.

Commenting on the latest announcement, Peter Hazlehurst, CEO and co-founder of Synctera, said: “Since launch, Synctera has formed one of the best teams in the industry. Bringing on a group of investors with deep industry expertise will help us meet rapidly increasing demand in our next stage of growth. For this next chapter, and to put action behind Synctera’s values, we pledge to reserve 10% of this round and all future rounds to diverse investors, allowing for more representation and collaboration to further innovate the industry.”

Synctera highlighted a surge in demand for its solutions since the start of 2021. The company is planning to utilize the latest funds to accelerate its growth.

Synctera and Fintech companies

Launched in 2020, Synctera was founded by Peter Hazlehurst, who previously worked as the head of Uber Money. During the latest announcement, Hazlehurst outlined the rapidly increasing demand for financial technology products around the world. “As soon as we met Peter, Kris, and Dominik and learned about their vision for the market, we were immediately sold. The specific focus on community banks and the world-class tech behind the platform really convinced us that they’re building a category winner that will underpin financial services of the future,” Logan Allin, Managing General Partner and Founder at Fin VC mentioned in the announcement.

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