SoftBank-backed TabaPay is buying the assets of a16z-backed Synapse, after it filed for bankruptcy

SoftBank-backed TabaPay is acquiring the assets of a16z-backed Synapse after the latter filed for bankruptcy. TabaPay is an instant money movement platform, while Synapse operated a platform enabling banks and fintech companies to develop financial services. Synapse experienced layoffs and difficulties with banking partner Evolve Bank & Trust in the past year.