Synapse, a fintech company that increases access to best-in-class financial services products, announced today that four new senior leaders have joined its executive team to support the company’s growth. Collectively, these new hires will empower Synapse to expand its offering while embracing direct regulation and oversight at scale. Joining the team:
Synapse, described as the “AWS of banking,” makes it faster and easier for fintech companies to launch and scale a wide range of financial services products to their customers, from foundational services such as checking accounts and debit cards, to credit cards and personal loan offerings. Synapse’s client roster includes Mercury, Cadre, and YottaSavings. These hires follow impressive growth for Synapse, which has seen active users double over the past year.
“As we prepare to expand our product offering into regulated areas, we must match our hiring efforts to our ambitions,” said Sankaet Pathak, CEO of Synapse. “With leaders like Sheetal, Lauren, Michelle, and Brad on the executive team, I’m confident that we are well-positioned for the next phase of growth. We continue to set a precedent for flexibility, speed, and ability to scale and will continue to do so as we build an even more robust product offering for our customers.”
In 2019, Synapse processed over $14B in payments, following its Series A and Series B funding rounds held in 2018 and 2019, respectively. The company has raised $50 million to date, led by Andreessen Horowitz, Trinity Ventures, and Core Innovation Capital.