Announcing the Chapter 11 Sale Process of Assets of Synapse Financial Technologies, Inc.

SAN FRANCISCO, Oct. 25, 2024 /PRNewswire/ -- B. Riley Advisory Services is soliciting bids for the assets of Synapse Financial Technologies, Inc., pursuant to the Order of the United States Bankruptcy Court, Central District of California, Chapter 11 Case No.: 1:24-bk-10646-MB

The Deadline for Initial Indications of Interest is November 4, 2024 at 4:00 p.m. Pacific Time. The  Deadline for Initial Bids is November 11, 2024 at 4:00 p.m. Pacific Time.

The Synapse Financial Technologies platform provided Banking as a Service (BaaS) infrastructure to fintech customers.  According to its Fall 2023 literature, the Synapse platform was serving approximately 120 fintech customers, 3 million active users, $60 billion annualized money movements and $3 billion card-based spending.  The system is running on MongoDB Atlas and AWS.

The assets being offered by the Chapter 11 Trustee include:

• The Synapse Financial Technologies platform, a BaaS (Banking as a Service) and IP
• Equity interests in subsidiaries, Synapse Credit, LLC and Synapse Brokerage, LLC
• Other Assets as determined by the Chapter 11 Trustee

To receive additional information and to request a Non-Disclosure Agreement (NDA) required to investigate this opportunity, please contact:

Seth R. Freeman, Managing Director at [email protected] ; Tel +1-925-899-1550
Jonathan Wernick, Managing Director at [email protected]; Tel +1 310-909-6121

SOURCE B Riley Advisory Services