Banking-as-a-service provider Synapse lays off staff, loses major client americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
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 San Francisco-based company, which operates a platform enabling banks and fintech companies to easily develop financial services, has been open about past layoffs. In June, CEO Sankaet Pathak wrote in a blog post that the company had let go of 18% of its workforce as “the current macroeconomic conditions” had begun to impact its clients and platforms, affecting its anticipated growth. Earlier this week, Fintech Business Weekly publisher Jason Mikula posted on X that “one of the company’s largest clients, Mercury, gave notice of non-renewal & plans to move directly to Evolve.”
Stripe is reportedly cutting jobs again, nearly eight months after it eliminated more than 1,000 roles. The company recently acquired analytics software company Okay and forged a partnership with