Synctera, the embedded finance and banking as a service (BaaS) platform, has raised $24.5m in new funding as sponsor banks renew their interest in embedded banking, bringing its total capital raised to $126.7m.

The San Francisco-based company secured investment from Multiplier Capital, Fin Capital, 1st & Main Growth Partners, Diagram and NAventures. The funding will support its work with sponsor banks and FinTechs, strengthen its balance sheet and provide additional runway as it targets break-even.

The raise comes as financial institutions reconsider their approach to BaaS, with some looking to establish or expand partnerships after reassessing the complexity and costs of building the infrastructure themselves.

Synctera is positioning its platform around operational resilience and regulatory compliance, arguing that banks need dependable technology to support programmes that can run for years and carry significant reputational responsibility.

Compliance is a central part of that strategy. In April 2026, Synctera acquired Cable, a compliance technology provider that enables continuous testing of controls across banks, FinTechs and service providers. Rather than relying on periodic sampling, the technology allows institutions to assess whether controls are operating effectively on an ongoing basis.

Synctera has also established a dedicated programme management team, introduced supporting operational processes and registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business (MSB). The company says these measures provide the ongoing oversight required to protect consumers and businesses using its banking and payments programmes.

The company operates as a software provider rather than a bank, working with multiple sponsor banks that retain responsibility for their individual programmes.

Source link