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Amid breakup, Synapse, Evolve address allegations about how their relationship ended

Synapse operates a platform enabling banks and fintech companies to easily develop financial services. It was providing those types of services as an intermediary between banking partner Evolve Bank & Trust and business banking startup Mercury. When Evolve and Mercury decided to end their respective relationships with Synapse and work directly with each other, each entity had concerns that they were working through, according to the companies.

Amid breakup, Synapse, Evolve address allegations about how their relationship ended

Synapse and Evolve addressed allegations that claimed the companies were at odds with each other after Evolve decided to end the relationship.

Regulators ramp up pressure on BaaS banks

Indian American-led startup Synapse lays off 86 people

Indian American-led startup Synapse lays off 86 people
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a16z-backed fintech Synapse lays off 40% of its staff

Banking-as-a-service startup Synapse confirmed today that it has laid off 86 people, or about 40% of the company. The San Francisco-based company, which The company's last known raise was a $33 million Series B raise led by Andreessen Horowitz.

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