BaaS Platform Synctera Raises $24.5 Million to Expand Compliance Infrastructure
The banking-as-a-service provider raised USD 24.5 million, bringing total funding to USD 126.7 million, with capital directed toward continuous compliance testing technology from its April 2026 acquisition of Cable.
Banking-as-a-service platform Synctera announced on 6 November 2026 that it raised USD 24.5 million, bringing its total funding to USD 126.7 million. Investors in the round include Multiplier Capital and Fin Capital, according to coverage by PYMNTS and citybiz.
The company said the capital will be directed toward compliance infrastructure, including technology from Cable, a continuous compliance testing provider acquired in April 2026 that replaces sample-based compliance reviews with automated ongoing testing across banks, fintechs, and providers. Synctera also reported that its network of sponsor banks reached eight institutions, with two additions in the fourth quarter of 2026, and that it is registered as a money services business with FinCEN.
Company-reported figures cited in the announcement, including twenty new clients in 2026 and a doubling of gross merchant volume and interchange year over year, are vendor claims.