Synapse’s collapse could spell trouble for nearly 100 fintech startups | TechCrunch Minute

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After years of missteps and struggles, the banking-as-a-service fintech Synapse officially has gone bankrupt. When a banking or financial startup fails, ordinary people get hurt. According to Synapse’s filings, up to 100 fintechs and 10 million customers could be impacted. But as industry expert Jason Mikula told TechCrunch, some customers using Synapse operate small businesses, meaning that the impact of Synapse’s collapse could be even more widespread than we think.

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