Synapse Recognized on the 2023 Inc. 5000 Annual List for Second Consecutive Year

Synapse Ranks No. 881 Among America’s Fastest-Growing Private Companies

SAN FRANCISCO--(BUSINESS WIRE)--Synapse Financial Technologies, Inc., a regulated embedded finance platform that increases access to best-in-class financial products, has been ranked 881 on the annual Inc. 5000 list. The list ranks the fastest-growing private companies in America and represents a one-of-a-kind look at the highest-performing companies within the economy’s most dynamic segment—its independent businesses. With its second consecutive year on the list, Synapse cements its position alongside successful past honorees including Facebook, Chobani, Under Armour, Microsoft and Patagonia, among other well-known names.

“We are pleased to be included again in the Inc. 5000 list and see a significant jump in our rank from 1,339 last year to 881,” said Synapse CEO and co-founder Sankaet Pathak. “This recognition is a testament to the strength of our strategy – empowering an industry of innovators making financial services more accessible and equitable. Our wide range of products has become essential to our fintech customers, allowing them to grow their businesses and, by extension, grow ours as we work to democratize financial services for all.”

Synapse was founded to advance financial inclusion for those on the outskirts of the traditional banking system. Globally, more than 1.7 billion adults are underbanked and therefore have no access to earnings on savings or investments, credit or other tools to build financial health. Through Synapse’s regulated embedded finance platform, fintechs across the globe are empowered to launch feature-complete financial products in weeks.

“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”

Synapse and its fellow honorees on the 2023 Inc. 5000 have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and other macroeconomic headwinds. For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.

About Synapse

Synapse was founded in 2014 with the mission to ensure that everyone around the world has access to best-in-class financial products, regardless of their net worth. Synapse’s regulated embedded finance platform provides payment, card issuance, deposit, lending, compliance, credit and investment products as APIs to more than 18 million end users. It has an annualized transaction volume of $76 billion across 91 million transactions. The company is backed by more than $50 million in funding from top venture firms, such as Andreessen Horowitz, 500 Startups, and Trinity Ventures, and recently ranked #92 in Financial Services on the 2022 Inc. 5000 Fastest Growing Companies list. Global cash management services are provided by Synapse Brokerage LLC, a registered broker-dealer and member of FINRA and SIPC. Synapse is not a Bank. Banking and card services are provided by Synapse Financial Technologies Inc.’s partner banks, Members FDIC. For more information, please visit synapsefi.com.

More about Inc. and the Inc. 5000

Methodology

Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.

About Inc.

Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.

For more information on the Inc. 5000 Conference & Gala, slated for October 31 - November 2 in San Antonio, visit http://conference.inc.com/.