US-based banking-as-a-service (BaaS) provider Synctera has secured $15m in a funding round, jointly led by Fin Capital and Diagram Ventures.
Other existing investors such as First & Main, Evolution, and True Equity also contributed to the round.
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The fresh infusion brings the company’s total capital raised to $94m.
It will help expedite Synctera’s growth and enable it to cater to the complex needs of its customers.
Synctera has also onboarded Bolt, its largest customer to date. Bolt offers one-click online checkout solutions.
Through its partnership with Midland States Bank, Bolt is set to provide financial services to consumers soon.
Synctera also partnered with Hawk, a pioneer in AI-driven financial crime prevention.
By integrating Hawk’s anti-money laundering (AML) and counter-financing of terrorism (CFT) technology into its core platform, Synctera looks to enhance its risk management and compliance.
Synctera co-founder and CEO Peter Hazlehurst said: “We are very pleased to earn the trust of increasingly larger and more complex customers and partners.
“The ongoing evolution of our business and steadfast support of our investors enable us to continue to drive scalable growth and excellence for our customers and community of banks.”
In 2023, Synctera raised $15m in funding, led by NAventures, to expand in Canada. Other participants included The Banc Funds and partner banks Veritex, Midland States, and Emigrant.
