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BaaS fintech SynapseTechCrunch
•78% Informative
BaaS fintech startup Synapse collapsed in April and liquidated under Chapter 7 .
The San Francisco -based startup allowed others to embed banking services into their offerings.
About $158.6 million was still owed to end users, including $65 million to $95 million in funds that were missing.
Synapse has laid off 86 people, about 40% of its workforce.
Evolve Bank & Trust and startup digital bank Mercury ended their respective relationships with Synapse and work directly with each other.
In 2019 , TechCrunch reported on the company's $33 million Series B raise led by Andreessen Horowitz .
VR Score
72
Informative language
67
Neutral language
58
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semi-formal
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English
Language complexity
51
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short-lived
External references
11
Source diversity
10
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