Synctera, a banking-as-a-service and embedded-finance platform, announced $24.5 million in new funding on 6 November 2026, bringing its total funding to $126.7 million, according to its release. The release names Multiplier Capital, Fin Capital, 1st & Main Growth Partners, Diagram and NAventures as investors. It does not name a lead, state the round type or say how the money splits between equity and debt. Runtimewire, whose article is behind a sign-in wall, reports about $9.5 million in equity with the rest as venture debt and gives no source; the release, the chief executive’s blog post and seven other outlets Lens read say the split is not stated.

What the money is for

The release says the funding strengthens the balance sheet and provides runway toward break-even, and that it supports work with sponsor banks and fintechs. Runtimewire adds that the chief executive expects break-even in early 2027; Lens could not verify that.

Company figures

The following are Synctera’s claims and have not been independently verified. It says it signed 20 clients in 2026 across financial services, property management and small-business lending, and that gross merchandise volume and interchange revenue each doubled year over year, without absolute figures. It has eight active sponsor banks, with two more in final implementation and due to go live with programs in the fourth quarter; The Paypers writes the fourth quarter of 2026. Main Street Bank, a Massachusetts bank led by chief executive Walter J. Dwyer IV, joined the network. Synctera describes itself as a financial technology company rather than a bank and says it is registered with FinCEN as a money services business.

Synctera announced on 14 April 2026 that it had bought Cable, a compliance-testing company, for an undisclosed price. It says that since then it has added one bank client and four fintech clients for Cable, and that Cable’s services are free to sponsor banks in its network. It introduced Synctera Labs in October 2026 as a launch platform for fintechs with new embedded-finance ideas, with first programs due to go live in February 2027; the chief executive’s blog post says it received 12 paid applications in the first two weeks.

What was said

Co-founder and chief executive Peter Hazlehurst said in the release: “Two years ago, banks asked me whether to be in this business at all.” He added: “Now they ask how to do it well.” Dealroom frames the round as banks returning to banking-as-a-service after the 2024 collapse of Synapse; that is Dealroom’s framing, not the release’s.

Funding history

According to Synctera’s releases and Crunchbase News, earlier funding was a $12.4 million seed (about December 2020), a $33 million Series A in June 2021 led by Fin VC, with Mastercard and Gaingels, a $15 million strategic round in 2023 led by NAventures, an $18.6 million Series A extension on 4 March 2024 co-led by Lightspeed and Fin Capital, and $15 million on 11 March 2025 led jointly by Fin Capital and Diagram Ventures. Those rounds add up to $94.0 million, which matches the “$94 million to date” in the 2025 release. Subtracting $24.5 million from the new $126.7 million total gives $102.2 million, which is $8.2 million higher; no source explains the difference, and Dealroom’s sidebar gives $119 million raised.

Sources and notes

Sources: Synctera’s release and its chief executive’s blog post of 6 November 2026; PYMNTS (6 November, partly paywalled), Dealroom (6 November), FF News (Lauren Towner, 6 November), The Paypers (Claudia Pincovski, 9 November), Finovate (David Penn, 9 November), The SaaS News, VC News Daily and a Fundz record; Synctera’s earlier releases and Crunchbase News (2 June 2021), all read through summaries. Business Wire’s copy and CityBiz returned HTTP 403, and Runtimewire is paywalled. The release does not name a lead investor, while Fundz tags Multiplier Capital and Fin Capital as lead investors. Sources differ on headquarters: San Francisco in the releases’ datelines, and Palo Alto in Dealroom and Finovate. Synctera’s revenue, valuation and customer names for 2026 are not disclosed.

Image: Rows of black server and network racks with patch panels and cabling in a data-centre room, 4 November 2015. Photo: Carl Lender, CC BY 2.0, via Wikimedia Commons. Stand-in image of generic network infrastructure; it does not show Synctera, a bank or a fintech.