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The Independent UK
The Independent UK
World
Graig Graziosi

The fintech company that collapsed and took $90 million of people’s life savings with it

Synapse fintech Evolve FDIC Banking Dive Yotta Lawsuit Juno
Fintech apps help gamify personal finance — but the collapse of Synapse left thousands without their money and no protection - (AFP via Getty Images)

Thousands of everyday investors who used banking apps to gamify personal finance have been left with mere pennies after a fintech company collapsed earlier this year.

The collapse and bankruptcy of fintech middleman Synapse in May has left more than 100,000 Americans locked out of a collective $90 million of their own money, prompting a class action lawsuit.

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