Syncfy, one of Latin America’s leading open finance platforms, announced $10 million in seed funding.
Syncfy’s platform enables single API access to financial data from 125+ different banks, digital wallets, tax authorities, utility providers, crypto exchanges, and blockchains across 15+ countries in Latin America and internationally. The company currently provides financial data aggregation and enrichment across its Connect, Fiscal, and Invoice Stamping API integrations.
Some of Syncfy’s customers include large banks, enterprise software companies such as BBVA and Intuit, and fast-growing startups, including FinTech unicorn Clara. Key customer use cases include personal financial management, credit underwriting, and accounting/tax integrations, amongst others.
This financing round will enable Syncfy to invest in regional business development across Latin America and broaden its product suite. While the company was a first mover in Mexico, Syncfy plans to expand its customer base in Argentina, Brazil, and Colombia in particular. The company also plans to launch payment initiation solutions in key markets, enabling interoperable access to financial data and seamless funds transfer via API.
Syncfy can help power the next wave of financial innovation in Latin America, enabling the creation of more inclusive financial solutions that can bring the underbanked into the financial system.