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SynapsePay, legally known as Synapse Financial Technologies Inc., was a Banking-as-a-Service (BaaS) platform designed to provide payment, deposit, lending, and card issuance services for fintech companies and financial institutions. Their core offering aimed to simplify the process for businesses to embed financial products into their applications. However, after facing significant financial difficulties and disputes with partner banks, Synapse Financial Technologies filed for Chapter 11 bankruptcy protection in April 2024. This led to major disruptions for its clients and their end-users, with services largely ceasing and ongoing legal proceedings to address customer funds and company assets.
Prior to its bankruptcy, this office served as the central hub for corporate operations, engineering leadership, product development, and business strategy. Operations from this location have ceased following the bankruptcy.
The headquarters was located within the Letterman Digital Arts Center campus in the Presidio, known for its modern office spaces and scenic surroundings. Specific internal features of Synapse's office suite are not widely publicized.
Before its financial collapse, Synapse aimed to cultivate a dynamic, innovative, and challenging startup environment focused on fintech solutions. The subsequent financial distress, layoffs, and bankruptcy dramatically altered the work environment and company stability.
The San Francisco location provided Synapse with proximity to a rich talent pool, venture capital, and a dense ecosystem of tech and fintech companies. This strategic positioning was vital during its growth phases.
SynapsePay was primarily headquartered and operationally focused within the United States, serving US-based fintech companies. The BaaS platform enabled its clients to offer financial services that could potentially reach end-users globally, contingent upon the clients' own regulatory compliance and operational scope. Synapse itself did not maintain a significant international office footprint. All services and operations have been halted due to the bankruptcy proceedings.
1 Letterman Drive, Building C, Suite C3-500
San Francisco
CA
USA
No additional office locations available.
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As of April 2025, Synapse' leadership includes:
Synapse has been backed by several prominent investors over the years, including:
The past 12 months for SynapsePay have been defined by severe financial distress, culminating in a Chapter 11 bankruptcy filing in April 2024 and subsequent operational wind-down. Key executive developments revolved around managing this crisis, including the appointment of a Chief Restructuring Officer. Most staff, including many in leadership roles, were laid off as operations ceased.
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SynapsePay, which operated under the domain synapsefi.com, likely used standard corporate email address formats. Common structures include [first].[last]@synapsefi.com or [first_initial][last]@synapsefi.com. Due to the company's bankruptcy and cessation of normal operations, email addresses for former employees are inactive, and communication channels are limited to official bankruptcy proceedings.
[first].[last]@synapsefi.com or [first_initial][last]@synapsefi.com
Format
sankaet.pathak@synapsefi.com (Historical example based on common format)
Example
5%
Success rate
American Banker • May 24, 2024
The trustee overseeing Synapse Financial Technologies' bankruptcy reported an $85 million shortfall between what Synapse's fintech clients recorded for customer funds and the actual cash held at partner banks, deepening the crisis for affected end-users....more
Reuters • May 10, 2024
U.S. banking regulators ordered Synapse Brokerage LLC, the brokerage arm of bankrupt Synapse Financial Technologies, to cease operations, transfer existing customer accounts, and not accept new ones, amid the ongoing fallout from the parent company's collapse....more
TechCrunch • April 22, 2024
Synapse Financial Technologies, a prominent banking-as-a-service platform, officially filed for Chapter 11 bankruptcy protection following months of financial instability, customer disputes, and an inability to secure a buyer or additional funding....more
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