TabaPay set to acquire Synapse Financial Technologies amidst bankruptcy proceedings

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TabaPay, Inc., a leader in instant money movement platforms for the fintech industry, today revealed its plans to acquire assets and affiliates of Synapse Financial Technologies, Inc., following Synapse’s recent voluntary Chapter 11 bankruptcy filing. This acquisition, pending approval by the bankruptcy court, promises to significantly broaden TabaPay’s financial service offerings, enhancing its position as a pivotal player in the fintech sector.

Financial Growth and Technological Synergy:

Prior to the acquisition, both TabaPay and Synapse Financial Technologies were recognized for their rapid growth and innovation, featuring on Deloitte’s 2023 Fast 500 list. Synapse, in particular, has experienced impressive growth, with an increase of over 650% over the past five years. The integration of Synapse’s assets into TabaPay’s portfolio is expected to deliver advanced financial technology solutions that complement and expand TabaPay’s current offerings to fintech firms and financial institutions.

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CEO’s Vision for Integration:

Rodney Robinson, Co-founder and CEO of TabaPay, expressed enthusiasm about the acquisition, stating, “The addition of the Synapse features is an acceleration of our TabaPay story, one dedicated to delivering great solutions that help our clients rapidly innovate, save money, and offer great financial products to their customers.” Robinson highlighted the natural synergy between the two companies’ services and the potential for growth, emphasizing the continuity this acquisition offers to Synapse’s existing clients and banking partners.

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Future Developments and Capabilities:

Following the acquisition, TabaPay plans to unveil additional solutions that incorporate Synapse’s assets. TabaPay is known for its scalable, resilient, and cost-efficient instant payment solutions, processing over one million transactions daily for more than 2,500 clients across the U.S. and Canada. The company’s robust technology infrastructure includes direct access to 15 banking partners, 16 network connections, and comprehensive payment processing capabilities through a unified API.

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This strategic acquisition is poised to enhance TabaPay’s service offerings and market reach significantly. By assimilating Synapse’s innovative assets, TabaPay not only strengthens its capabilities in instant payment solutions but also ensures business continuity for Synapse’s clientele. This move is likely to reinforce TabaPay’s market position as a comprehensive provider of financial technology solutions, driving further innovation and customer satisfaction in the fintech industry.

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