Company Information

Get to know synapsefi

Founded in 2014 by Sankaet Pathak, Synapse Financial Technologies, Inc. positioned itself as a key infrastructure provider in the fintech ecosystem. Its mission was to enable developers and companies to easily embed financial services like bank accounts, payment processing, card issuance, and loan products into their applications through a unified API platform. By acting as an intermediary between fintech companies and FDIC-insured partner banks, Synapse aimed to simplify the complexity of financial regulations and bank partnerships. However, the company faced significant operational, regulatory, and financial challenges, leading to public disputes with partners and culminating in its filing for Chapter 11 bankruptcy protection in April 2024.

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Technology Software DevelopmentPRIMARY
Financial Other Service

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synapsefi

United States

Founded in

2014 (12 Years)

Founded

Last online: No recent activity

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.