According to Business Insider, fintech startup Synapse is laying off as many as 63 people or more than half of its staff in its San Francisco office; it is looking to grow its presence in Texas as a move to weather the economic storm; the company provides back office financial products to enable banks and fintech companies to launch new products quickly; the Synapse CEO, Sankaet Pathak, sent an email to customers to inform them that a number of employees had been let go; the startup secured $33 million in funding last year from the likes of Andreessen Horowitz; Synapse is looking to better serve large enterprise companies as it looks to diversify its customer base. Business Insider
