SoftBank-backed TabaPay is buying the assets of a16z-backed Synapse, after it filed for bankruptcy | TechCrunch
After a tumultuous year, banking-as-a-service (BaaS) startup Synapse has filed for Chapter 11 bankruptcy and its assets will be acquired by TabaPay, according to the two companies.
The deal is pending bankruptcy court approval.
Founded in 2017, Mountain View-based TabaPay is an instant money movement platform that SoftBank backed in a 2022 round of an undisclosed sum. It is not clear how much venture capital it has raised.
San Francisco-based Synapse, which operated a platform enabling banks and...
Read more at techcrunch.com