TabaPay, Inc., the leading instant money movement platform for the fintech industry announced it has entered into an agreement to acquire the assets and affiliates of Synapse Financial Technologies, Inc. The agreement follows the filing by Synapse of a voluntary bankruptcy petition under Chapter 11.
With the addition of the Synapse assets, TabaPay will offer an unprecedented array of financial services for fintech firms and financial institutions, pending approval by the bankruptcy court. Prior to the acquisition, the two businesses provided complementary financial technology services, with both companies ranking on Deloitte’s 2023 Fast 500 with Synapse posting 650%+ growth over a five-year period.
“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,” said Rodney Robinson, the Co-founder and CEO of TabaPay. “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.”
As the asset acquisition is approved by the bankruptcy court, TabaPay will announce additional solutions that leverage the Synapse assets.