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Synapse’s collapse has frozen nearly $160M from fintech users — here’s how it happened

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Synapse’s collapse has frozen nearly $160M from fintech users — here’s how it happened - TechCrunch

Quick Summary:

Tens of millions of customer dollars remain unaccounted for at his previous startup, fintech Synapse.

The San Francisco-based startup raised a total of just over $50 million in venture capital in its lifetime, including a 2019 $33 million Series B raise led by Andreessen Horowitz’s Angela Strange.

October 13: Evolve Bank & Trust and startup digital bank Mercury ended their respective relationships with Synapse and work directly with each other.

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Synapse’s collapse has frozen nearly $160M from fintech users — here’s how it happened - TechCrunch (Picture 1)

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Article Details

Author / Journalist: Mary Ann Azevedo

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-22 @ 20:33:27 (10 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1525 words

Reading Time: 9 minutes read

Sentences: 73 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 22215991

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