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Juli Spottiswood to lead new holding company focused on payments industry

Syncapay, a new holding company focused on high-potential payments products, has launched with the backing of Bain Capital Ventures, Silversmith Capital Partners, MissionOG, Nyca Partners and Juli Spottiswood as chairman and CEO, according to a press release.

The organization will focus on acquiring disruptive financial technology innovators that can collaboratively share centralized, non-core services and best practices and capture greater market share.

Syncapay's first acquisition, Swift Prepaid Services, was made late last year.

"The U.S. payments industry continues its rapid growth, but few opportunities exist for high-potential companies to leverage industry knowledge or shared services and tackle the market together," Spottiswood said in the release. "The Syncapay vision is to build a powerhouse portfolio of disruptor payment solutions that can accelerate growth and success through our investments and support."

Syncapay plans to acquire payments companies with innovative or emerging technology and solutions and leverage the many synergies between them to accelerate growth. The investment focus is on companies that provide, facilitate or issue B2B and B2C payments in growth markets around the world. Syncapay will house an array of payments brands to serve multiple needs, according to the release.

"As the payments industry matures, we are finding there are a meaningful number of exciting, disruptive companies looking for a structure within which they can get some liquidity, as well as additional resources to take the next step in their evolution," Matt Harris, managing director of Bain Capital Ventures, said in the release. "Syncapay will be that home for a set of these leading players."