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Banking-as-a-Service (BaaS) and embedded finance provider Synctera has raised $15 million in new funding, bringing its total financing to $94 million. The investment aims to accelerate the company’s growth and enhance its ability to meet the evolving and complex needs of its customers, according to a press release issued on March 11.
“This is a vote of confidence that enables us to continue to drive scalable growth and excellence for our customers and community of banks,” said Peter Hazlehurst, Synctera’s co-founder and CEO.
The funding round was led by Fin Capital and Diagram Ventures, with additional participation from existing investors, including 1st & Main, Evolution, and True Equity.
Logan Allin, founder and managing partner of Fin Capital—who also serves on Synctera’s board—praised the company’s commitment to responsible innovation. “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,” Allin stated.
The investment comes at a time when embedded finance is reshaping the financial ecosystem, allowing banks, businesses, and FinTech firms to integrate financial services seamlessly into everyday transactions. Embedded finance enables banking, payments, and lending to move beyond traditional financial institutions and into digital platforms, powering solutions such as Buy Now, Pay Later (BNPL) at checkout.
This transformation is proving valuable for lenders as well, enabling them to reach new customer segments, improve financial inclusion, and leverage data for personalized offerings.
Recent research underscores the growing demand for embedded lending solutions. The report found that 47% of lenders now offer embedded lending exclusively, while 31% incorporate embedded lending alongside other financing options. Only 12% have yet to adopt embedded finance solutions.
With this latest funding, Synctera is well-positioned to capitalize on the expanding embedded finance landscape, delivering innovative financial solutions that bridge the gap between traditional banking and modern digital ecosystems.
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