New Austin fintech company launches with $4M and aggressive hiring plans

Sam Dewey

A new Austin-based company has burst onto the local fintech scene with the announcement of a $4 million dollar round of private equity and debt financing — and is now hiring across the board.

Sync1 Systems, the brainchild of Austin serial techies Steve Maloney, Bruce Callen and Dan Chaney, develops technology platforms designed to give credit unions more optimization when it comes to digital banking, mobile and loan origination.

“On the heels of the financial crisis of 2008, the world of credit union lending was transformed. Consumers are now digital, lending requirements are changing once again, and the marketplace for customers has broadened,” Maloney, who serves as the company’s CEO, said in a statement. “For nearly two decades, we’ve helped credit unions to successfully navigate these shifting tides. Sync1 Systems is an entirely new technology platform architected from the ground up to help credit unions succeed in this new world.”

The fintech trio of Maloney, Callen and Chaney had previously worked together at Teres Solutions, a local credit union lending provider that ultimately sold to CRIF in 2008. Terms of that deal were never disclosed.

In addition to the round, the company announced it merged with F1-Mobile, another local fintech company that focuses on mobile banking solutions.

Sync1 System’s platform is expected to launch during the first half of 2017.

 

Image via Shutterstock.

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