TabaPay, Inc., a prominent platform facilitating instant money transfers, has revealed its intention to acquire the assets and subsidiaries of Synapse Financial Technologies, Inc., a move pivotal to its expansion plans.
This announcement follows Synapse’s voluntary filing for Chapter 11 bankruptcy.
The acquisition of Synapse’s assets is aimed at strategically broadening TabaPay’s portfolio of products and services, with a focus on encouraging innovation among its customers while ensuring uninterrupted service for Synapse’s existing clients and partner banks.
Subject to approval by the bankruptcy court, this acquisition will enable TabaPay to enhance its array of financial services tailored for FinTech firms and financial institutions.
The integration of Synapse’s assets is anticipated to bring unprecedented capabilities to TabaPay’s platform, offering clients enhanced solutions for their financial requirements.
Both TabaPay and Synapse have been acknowledged for their significant contributions to the fintech industry, with Synapse’s notable growth recognized by its inclusion in Deloitte’s 2023 Fast 500 list.
Rodney Robinson, Co-founder and CEO of TabaPay, expressed enthusiasm about the acquisition, stating, “The addition of Synapse’s features represents an acceleration of our journey at TabaPay, one centered around delivering innovative solutions that assist our clients in rapid innovation, cost savings, and the provision of exceptional financial products to their customers. Synapse’s assets seamlessly complement our existing services, enabling us to expand our offerings while ensuring continuity for Synapse’s clients and partner banks.”
Source: fintech.global
