Total amount raised
$50.7 Million
Latest funding date
6/1/2019
Location
Synapse has successfully raised funding through multiple rounds, with notable investors including 500 Global and Trinity Ventures. The platform enabled companies to offer financial products to their customers.
What Is Synapse?
Founded in 2014, Synapse was a San Francisco-based banking platform that enabled companies to offer financial products to their customers. The company provided APIs for payment, deposit, lending, and investment products.
Synapse was founded by Akl Fahed, Bryan Keltner, and Sankaet Pathak. The platform aimed to make financial services more accessible and affordable.
With a team of 101-250 employees, Synapse offered a range of financial technology solutions until it filed for Chapter 11 bankruptcy protection in April 2024.
How Much Funding Has Synapse Raised?
- Seed Round
- Amount Raised: $700K
- Date: March 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and bring the product to market.
- Series A
- Amount Raised: $17M
- Date: September 2018
- Lead Investors: Core Innovation Capital, Trinity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and start democratizing financial services.
- Series B
- Amount Raised: $33M
- Date: June 2019
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and international expansion.
Total Amount Raised: $50.7M. Current Valuation: Not publicly disclosed.
Key Investors
- Andreessen Horowitz
- Details: A prominent venture capital firm based in Silicon Valley, known for investing in early-stage and growth-stage technology companies.
- Investment Focus Areas: Fintech, enterprise software, consumer tech, bio + healthcare, crypto.
- Notable Investments: Facebook, Airbnb, Lyft.
- Core Innovation Capital
- Details: A venture capital firm that invests in companies democratizing prosperity, based in Los Angeles, California.
- Investment Focus Areas: Financial technology, lending, payments, personal finance.
- Notable Investments: NerdWallet, Oportun, Ripple.
- Trinity Ventures
- Details: A venture capital firm that partners with early-stage founders to build enduring companies, based in Menlo Park, California.
- Investment Focus Areas: Consumer technology, enterprise technology, fintech, SaaS, digital health.
- Notable Investments: Starbucks, New Relic, Docker.
What's Next for Synapse?
Synapse collapsed after TabaPay walked away from a planned $9.7 million purchase of its assets. A court-appointed trustee took over the company's day-to-day operations.
Efforts to sell Synapse's assets yielded no viable bidders. In November 2025, the bankruptcy judge dismissed the case because Synapse lacked the funds to repay its creditors.
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