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      <p>
        Synctera, a banking infrastructure provider, has raised USD 18.6 million in Series A1 extension to its 2021 Series A round, co-led by Lightspeed and Fin Capital, with participation from NAventures, Diagram, Banco Popular, Mana Ventures, and others. The funding comes a year after Synctera raised 
        <a href="https://sp-edge.com/updates/16980">
          USD 15 million
        </a>
         and brings its total funding to USD 79 million.
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        The company earmarked the funds to support business growth by facilitating more complex use cases across the US and international markets.
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        Synctera reported a 4.5x YoY increase in ARR, over 2x YoY growth in live customers and a 20x YoY increase of spend on the platform in 2023. The company plans to launch SyncteraPay in 2024 and expand into new geographies and client segments.
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    <a href="https://www.businesswire.com/news/home/20240304417746/en/Synctera-Announces-18.6M-Funding-Boost-Appoints-New-CRO-To-Support-Largest-New-Customers%E2%80%99-US-Expansions">
      Press release
    </a>
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FinTech Infrastructure

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 <p>Synctera, a banking infrastructure provider, has successfully obtained funding amounting to USD 18.6 million in an extension of its 2021 Series A round. The funding round was co-led by Lightspeed and Fin Capital, and also involved participation from NAventures, Diagram, Banco Popular, Mana Ventures, among others. This funding arrives one year after Synctera secured <a href="https://sp-edge.com/updates/16980"> USD 15 million </a>, bringing total funding up to USD 79 million.</p>
 <p>This new capital will be dedicated to support business expansion by enabling more intricate use cases both domestically in the US and in international markets.</p>
 <p>Statistics have revealed that Synctera observed a 4.5x year-on-year increase in annual recurring revenue and over 2x YoY growth in customer base, alongside a 20x year-on-year increase in spend on their platform in 2023. They have plans to launch a new service, SyncteraPay, in 2024 and to branch out into novel geographies and client segments.</p>
 
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All Updates

Synctera raises USD 18.6 million in Series A1 extension

Synctera raises USD 15 million in funding

Synctera partners with Mastercard and Marqeta on card infrastructure