TabaPay, Inc., a leading instant money movement platform, has announced that it has agreed to acquire the assets and affiliates of Synapse Financial Technologies, Inc., marking a pivotal move in its growth trajectory.
This development comes in the wake of Synapse’s voluntary bankruptcy petition under Chapter 11.
The acquisition of assets signifies a strategic expansion of products and services aimed at fostering customer innovation, all the while ensuring business continuity for Synapse’s current clients and partner banks.
Upon approval by the bankruptcy court, the acquisition will enable TabaPay to expand its suite of financial services tailored for FinTech firms and financial institutions.
The integration of Synapse’s assets is expected to bring unprecedented capabilities to TabaPay’s platform, empowering clients with enhanced solutions for their financial needs.
Prior to this acquisition, both TabaPay and Synapse were recognised for their contributions to the fintech landscape, with Synapse achieving remarkable growth, as evidenced by its inclusion in Deloitte’s 2023 Fast 500 list.
Rodney Robinson, the Co-founder and CEO of TabaPay, commented, “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. 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.”
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