TabaPay to Acquire the Assets of Synapse Financial Technologies, Inc.
19 Abril 2024 - 5:14PM
Business Wire
The acquisition of assets represents a
strategic expansion of products and services to fuel customer
innovation, while providing business continuity for existing
Synapse clients and banks
TabaPay, Inc., the leading instant money movement platform for
the fintech industry, today announced it has entered into an
agreement to acquire the assets and affiliates of Synapse Financial
Technologies, Inc. The agreement follows the filing by Synapse of a
voluntary bankruptcy petition under Chapter 11.
With the addition of the Synapse assets, TabaPay will offer an
unprecedented array of financial services for fintech firms and
financial institutions, pending approval by the bankruptcy court.
Prior to the acquisition, the two businesses provided complementary
financial technology services, with both companies ranking on
Deloitte’s 2023 Fast 500 with Synapse posting 650%+ growth over a
five-year period.
“The addition of the Synapse features is an acceleration of our
TabaPay story, one dedicated to delivering great solutions that
help our clients rapidly innovate, save money, and offer great
financial products to their customers,” said Rodney Robinson, the
Co-founder and CEO of TabaPay. “The Synapse assets are a great and
natural fit to our existing services to grow our offerings in
tandem with providing continuity to Synapse clients and banks.”
As the asset acquisition is approved by the bankruptcy court,
TabaPay will announce additional solutions that leverage the
Synapse assets.
About TabaPay
TabaPay is a leading money movement platform for scalable,
resilient, and cost-efficient instant payment solutions. TabaPay
processes over one million transactions daily on behalf of more
than 2,500 clients in the U.S. and Canada, and provides merchant
acquiring, instant payments, and services across the payments
ecosystem. Through its unified API, customers gain direct access to
15 banking partners, 16 network connections, and full-stack payment
processing, which enable flexibility while eliminating redundant
processes. The company is majority employee owned with investments
from Aligned Partners and Softbank. Recent industry recognition
includes Forbes 2024 Fintech 50, Deloitte Fast 500, Inc. 5000, and
TearSheet. For more information, visit TabaPay.com and follow us on
LinkedIn.
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TabaPay Contact Lindsay Davis Head of Marketing &
Strategy lindsay.davis@tabapay.com 954-529-3995