SoftBank Vision Fund is a subsidiary of Softbank Group that specializes in growth capital and social impact investments. Sectors that the fund invests in include the internet of things, artificial intelligence (AI), robotics, communications infrastructure, telecoms, computational biology, biotech, cloud technologies and software, consumer internet businesses, financial technology, and mobile apps. The Fund is designed to be a catalyst for technology progress in anticipation that it will expand SoftBank's capabilities, accelerating progress towards SoftBank 2.0. It aims to invest in businesses and foundational platforms that SoftBank believes to revolutionize and innovate the world tomorrow.

SoftBank Vision Fund

TabaPay

TabaPay provides a simple unified API to support a range of use cases, offers direct connections and intelligent least-cost routing across 10 card networks, and boasts one of the industry's best approval rates.

TabaPay is an instant money movement platform that enables fintech innovators to facilitate real-time payouts and payments. The company's unified API offers direct access to various payment rails, including card networks (Visa, Mastercard, American Express, Discover), real-time payments/ACH, and multiple geographies. TabaPay's platform supports a range of products and features, such as payments, payouts, PayFac, routing, a proprietary tokenization vault, AML compliance tools, multi-currency support, reconciliation, and merchant-level reporting.

TabaPay Ranked Among Top Merchant Acquirers by Nilson Report

Tabapay Blog

Instant Money Movement For Fintech Innovators

TabaPay was ranked 6th in CNP and 20th among US merchant acquirers by the Nilson Report

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

TabaPay ditches plan to buy assets of bankrupt BaaS firm Synapse

TabaPay is a full-stack payment processor that enables instant money movement for fintech innovators and financial institutions. The company's platform facilitates payouts and payments in the US and Canada, with plans for expansion to additional countries. TabaPay's unified API offers direct access to all payment rails, including card networks and real-time payments/ACH, across multiple geographies. The company's technology stack includes features such as a least cost routing engine, proprietary tokenization vault, AML compliance tools, multi-currency support, and enhanced reconciliation capabilities.
As of May 2023, TabaPay was ranked as the 6th largest card-not-present (CNP) acquirer based on total purchase transactions and 5th by dollar volume. It was also recognized as the 20th largest merchant acquirer in the US based on Visa and Mastercard volume. The company has processed over 600 million transactions totaling more than USD 60 billion since its inception. TabaPay has established itself as a top three enabler of Visa Direct, Mastercard Send, and The Clearing House's RTP network. In August 2022, TabaPay was named one of America's fastest-growing private companies on the Inc. 5000 list for the second consecutive year.

TabaPay is an instant money movement platform that enables fintech innovators to facilitate real-time payouts and payments. The company's unified API offers direct access to various payment rails, including card networks (Visa, Mastercard, American Express, Discover), real-time payments/ACH, and multiple geographies. TabaPay's platform supports a range of products and features, such as payments, payouts, PayFac, routing, a proprietary tokenization vault, AML compliance tools, multi-currency support, reconciliation, and merchant-level reporting.Key customers and partnershipsAs of December 2024, TabaPay&nbsp;serves notable companies such as Klarna, Dave, Remitly, SoFi, Upgrade, Payactiv, and numerous others. The company has direct connections to various banking partners, including Evolve Bank &amp; Trust, Cross River, WebBank, Sutton Bank, Stride, Coastal Community, Lead Bank, Bancorp, Pathward, CBW, Stride, and Sunrise.In October 2023, TabaPay expanded its strategic partnership with Pathward, enhancing its suite of faster payment solutions for bank partners. This collaboration aimed to empower fintech firms, merchants, and platforms with faster payments nationwide, catering to consumer expectations.The company also partnered with Visa to launch the Visa+ service for digital peer-to-peer payments.The company has processed over 600 million transactions totaling more than USD 60 billion. TabaPay's unique technology allows clients to disburse and collect one million transactions daily on behalf of more than 2,500+ clients in the US and Canada.

Cross River Bank provides a white-label banking-as-a-service (BaaS) platform for enterprises, combining banking services, payments, and marketplace lending infrastructure to build fintechs. Its solutions comprise demand deposits, savings accounts, credit and debit cards, and payment clearing services, including automated clearing house (ACH) and real-time payments. The company also provides banking and payment infrastructure for the crypto industry, including risk management services for its crypto clients.Cross River Bank has expanded its operations by acquiring Betterfin, a platform offering lending-as-a-service (LaaS) solutions, in November 2021. Through the acquisition, Cross River Bank leveraged Betterfin’s software to digitize parts of the small-business lending process (such as origination and underwriting).&nbsp;Key customers and partnerships&nbsp; As of November 2024, Cross River had over 80 clients, including lenders such as Affirm, Best Egg, and Upstart, neobanks such as <a href="https://sp-edge.com/companies/220119">Revolut</a>, and blockchain-based payment processing platform GreenBox. The platform reportedly originated over USD 24 billion in loans per annum, around 10x the value of loans it originated in 2015.As of November 2024, the company had over 500 employees and had entered more than 80 partnerships.&nbsp;In September 2024, Cross River Bank partnered with Forward, an embedded payments company, to offer payouts-as-service solutions featuring same-day automated clearing house (ACH) payouts through Forward's proprietary API technology.&nbsp;Cross River Bank also teamed up with UK-based BaaS provider <a href="https://sp-edge.com/companies/421515">Railsr</a> in January 2019 to launch a common API for their platforms to be used globally.The company partnered with <a href="https://sp-edge.com/companies/1643">American Express</a> (Amex) to enable FinTechs to issue credit cards through Cross River Bank, on the Amex network, while also providing select Amex benefits to the FinTechs.&nbsp;

Cross River Bank

Synctera was co-founded in 2020 by Peter Hazlehurst, the former head of Uber Money, who previously led the development of Google Wallet. The company offers an API-based infrastructure platform for community and regional banks to find and partner with FinTechs. This enables FinTechs to leverage the former’s licenses to embed FDIC-insured mobile checking, debit cards, savings accounts, and payment innovations, among other features. The API platform offered to the banks will then be sold to the FinTechs to code on. Although the end customers interact with the FinTechs, they legally belong to the bank.<a href="https://sp-edge.com/updates/8117">Synctera mainly charges the banks </a>based on the interchange fees they earn (half of the interchange fees, as of January 2022) from the services provided. It does not charge them an initial amount to use the platform. Moreover, the platform also embeds fraud-as-a-service and charges FinTechs on a per transaction basis (4 cents per transaction) should they choose to use it. It subsequently shares that revenue 50/50 with the banks.The company launched the “t-minus10” project in January 2022, which offers a live sandbox for FinTechs to build apps, test, and go to market, enhancing their access to banking partners. It subsequently launched a “Smart Charge Card” (APIs to build, launch, and issue charge cards) and “White-label Banking App” (a codebase for developers to build embedded banking products or neobank apps) infrastructure in October 2022.Key customers and partnershipsIn February 2022, Lineage Bank (a community bank in Tennessee) and GoGetr (FinTech aiming to promote health and wealth management) became the first companies to launch a banking solution using the Synctera platform. As of March 2023, the platform was working with around 50 fintechs, of which 14 were live (including Wayapay and Float). Synctera reportedly had over 20 implementations set for launch in the following two months.Synctera announced a new card issuing and management infrastructure offering (Card-as-a-Service), in July 2021, which it developed in partnership with Mastercard and leading card issuing infrastructure disruptor, <a href="https://sp-edge.com/companies/64287">Marqeta</a>.In August 2024, Synctera partnered with<a href="https://thepaypers.com/payments-general/synctera-partners-marqeta-to-introduce-fleet-cards--1269833"> Marqeta&nbsp;</a>to develop a fleet card solution that helps companies create and manage their own fleet card and banking products.

Synctera

Based in the UK, Weavr, formerly known as Open Payments Cloud, was spun out of payment provider Ixaris in 2019. Weavr offers the infrastructure for enterprises to embed banking services across various industries, including education, fitness, logistics, etc. Weavr’s “Meta” platform combines multiple banking and payments partners in one platform through application programming interfaces (APIs). Using the APIs, enterprises can embed virtual banking services such as card payments, fund transfers, and international banking accounts.Weavr expanded its operations to Singapore in November 2022, as part of its global expansion plans.In March 2023, the company acquired Comma Payments in a primarily equity-based transaction to integrate the latter’s technology. The integration will allow customers to transition from making payments via existing bank accounts to using Weavr-provided accounts with enhanced controls and payment options.Key customers and partnershipsAs of February 2023, Weavr had served over 1,500 enterprises, including Wectory, AllGravy, Corplife, Finway, Thanks Ben, and MySkillCamp.&nbsp;In October 2019, Weavr partnered with payment service providers Global Processing Services (GPS), Paynetics, and iDenfy to enable developers to create and run sophisticated and streamlined payment experiences for their European customers through Weavr.In June 2023, the company&nbsp;<a href="https://www.weavr.io/blog/weavr-and-visa-to-deliver-embedded-finance-to-the-global-stage/">partnered with Visa</a> to integrate its financial plug-ins with Visa's payment capabilities to create embedded finance solutions that are easy to deploy and cost-effective.

Weavr

MX offers an open finance portal, data connectivity application programming interface (API), and MX platform API for banks, credit unions, and other financial service providers. The company’s solutions allow its clients to utilize financial data to reduce fraud, approve loans faster, and improve their customer experiences. In addition to APIs and connections, MX also offers a range of capabilities, including data aggregation, analytics, financial feed insights, wealth and investment services, and verification services.MX looks to enable banks and financial institutions to launch next-generation services and apps that automate and personalize financial experiences.Key customers and partnershipsAs of January 2021, the company noted that it worked with more than 1800 banks, credit unions, and FinTech companies, and its platform reached over 200 million end-users. Moreover, it also powered 43 of the top 50 digital banks as of the same period.&nbsp;As of November 2024, the company maintained connections with more than 13,000 financial institutions and FinTechs. Moreover, the company had processed transactions worth USD 170 billion, averaging around USD 150 million per day.In November 2024, the company partnered with&nbsp;<a href="https://www.pymnts.com/news/banking/2024/american-express-forms-data-sharing-partnership-with-mx/">American Express</a> to enable the latter’s customers to securely connect their accounts with third-party financial institutions and FinTech apps through MX's platform.In&nbsp;<a href="https://sp-edge.com/updates/8753?industryIds=53">February 2022, MX partnered</a> with&nbsp;<a href="https://sp-edge.com/companies/361160">Rize</a>, to enable users to access Rize’s banking infrastructure to build, launch, and scale financial products through a single API, thereby reducing the development time and cost.&nbsp;&nbsp;

Bankable is a banking-as-a-service (BaaS) infrastructure provider allowing financial institutions and corporations to utilize its API to integrate banking services. It provides a platform for its enterprise customers to offer modular banking services, including ledger management (process data from multiple banks to support cash management for global corporate affairs), digital banking, payment cards, and e-wallets. The company expanded its platform by <a href="https://sp-edge.com/updates/19662">acquiring Arex Markets </a>in June 2023, to embed working capital solutions (such as flexible invoice financing, corporate credit cards, lodged cars, and revolving credit).The company has a global presence, with operations spanning from the US to the Middle East as of January 2021. Bankable noted that the expansion of its global footprint also helps its European and US FinTech clients expand their operations internationally.Key customers and partnershipsIn January 2020, the company partnered with the diversified FinTech infrastructure provider <a href="https://sp-edge.com/companies/85350">Plaid </a>, which enabled Bankable’s customers to use Plaid’s tech to connect to more than 15,000 banks in the US and Europe.

Bankable

Platforms that allow FinTechs to integrate banking services such as opening and maintaining accounts, facilitating card payments, etc.


Platforms that enable FinTechs to integrate a range of payment-related services such as one-time payments, subscriptions, and receipt management for domestic and cross-border transactions.


Companies that enable organizations to embed anti-money laundering (AML), identity verification, and know-your-customer (KYC) solutions.


Platforms that allow FinTechs to integrate lending services,  by typically applying AI/ML technology to a spending analysis to analyze creditworthiness.

Companies providing APIs and integrations for FinTechs to access securities markets, facilitate transactions and clearing, and provide insights to help end-users manage their finances.

May specialize in promoting inclusiveness in financial services, primarily in the investment and lending spaces

AI/ML can improve the quality of their offerings, such as using AI/ML to reduce biases

Used for payment completions, accessing banking and transaction data, and providing financial insights, among others

ANALYST_QUICK_TAKE

<div>
 The instant money transfer platform, TabaPay, intends to acquire assets and affiliates of Synapse, a banking-as-a-service (BaaS) infrastructure provider. The intended acquisition comes after Synapse filed a voluntary bankruptcy petition under Chapter 11.
 TabaPay plans to expand its financial services offerings using Synapse's assets and technologies. The arrangement will ensure business continuity for Synapse’s clients and banks.
</div> Analyst QuickTake: 
 Leading up to the planned acquisition, Synapse went through two rounds of layoff during 2023. The <a href="https: 
//medium.com/@sankaet/a-hard-decision-to-position-us-for-the-future-7f8a38f0fa69"> initial round of layoff </a> (~18% of its workforce) was as part of a restructuring initiative in June 2023 and <a href="https: 
//sp-edge.com/updates/22521"> its second round of layoffs </a> (~40% of its workforce) in October 2023 due to worsening macroeconomic conditions having unfavorable impacts on business circumstances, clients, and platforms.

TabaPay

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