The fintech infrastructure provider has now raised $126.7 million and is expanding its bank network while working toward break-even.
Synctera has raised $24.5 million in new financing, bringing the embedded finance company's total funding to $126.7 million.
Investors participating in the round include Multiplier Capital, Fin Capital, 1st & Main Growth Partners, Diagram and NAventures.
The announcement, reported November 6, comes as the banking-as-a-service industry continues adapting to tighter regulatory scrutiny and greater demands for compliance.
Synctera provides the infrastructure connecting fintech companies with regulated banks, allowing businesses to launch financial products without obtaining their own banking charters.
The Infrastructure Behind Embedded Finance
Launching a financial application requires more than a user interface.
Companies also need banking relationships, account infrastructure, transaction monitoring, payment processing and compliance controls.
Synctera combines those capabilities in a software platform designed to connect financial technology businesses with sponsor banks.
Its customers can build banking and payment products while relying on regulated financial institutions to provide the necessary underlying banking services.
The company currently works with eight active sponsor banks, including Main Street Bank.
Two additional bank partners are in implementation, according to recent company disclosures.
Expanding Compliance Capabilities
Synctera was co-founded by Peter Hazlehurst, its CEO, who previously held senior roles at companies including Uber, Google Wallet and Postmates.
In April 2026, Synctera acquired Cable, a compliance testing company.
The acquisition expanded its ability to help banks and fintechs monitor controls and identify potential compliance weaknesses.
The company also introduced Synctera Labs in October, a platform intended to simplify the launch of new financial products.
Synctera says it has signed 20 new customers during 2026.
The Road to Break-Even
The new funding will strengthen Synctera's balance sheet and extend its runway toward break-even.
The company has not publicly disclosed its revenue, profitability or latest valuation.
Banking-as-a-service platforms face a demanding business environment.
Their customers need reliable financial infrastructure, while banks must maintain oversight of products operating under their charters.
Synctera's opportunity is to make embedded finance easier to launch without compromising regulatory controls.
The financing suggests continued investor demand for that infrastructure, although long-term success will depend on turning expanding banking relationships into sustainable transaction and software revenue.
Sources: Startup Researcher · Dealroom