About Synchrony
Synchrony is a company based in Salem (United States) founded in 1993 was acquired by Dresser-Rand in December 2011. It operates as a Commission-Based, Brokerage / Intermediation, and Subscription Services. Synchrony has raised $25 million across 6 funding rounds from investors including Dresser-Rand and Third Security. The company has 20,000 employees as of December 31, 2024. Synchrony has completed 5 acquisitions, including Allegro Credit, GPShopper and Loop Commerce. Synchrony offers products and services including Synchrony Credit Cards, Synchrony Bank Savings, CareCredit, and Synchrony Marketplace. Synchrony operates in a competitive market with competitors including PayPal, Zscaler, Chainalysis, New York Life Insurance and Oracle, among others.
- Headquarter Salem, United States
- Employees 20000 as on 31 Dec, 2024
- Stage Public
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Synchrony Financial
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Annual Revenue
$20.76 B19.73as on Dec 31, 2024
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Net Profit
$3.5 B56.34as on Dec 31, 2024
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EBITDA
$12.44 B25.36as on Dec 31, 2024
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Total Equity Funding
$25 M (USD)
in 6 rounds
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Latest Funding Round
$750 M (USD), Debt – Conventional
Jul 31, 2019
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Investors
Dresser-Rand
& 1 more
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Employee Count
20000
as on Dec 31, 2024
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Investments & Acquisitions
Allegro Credit
& 4 more
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Acquired by
Dresser-Rand
(Dec 07, 2011)
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IPO & Listings of Synchrony
Synchrony is a publicly listed company on the NYSE with ticker symbol SYF in USA, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Synchrony
Synchrony offers a comprehensive portfolio of products and services, including Synchrony Credit Cards, Synchrony Bank Savings, CareCredit, and Synchrony Marketplace. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Credit cards are offered for retail financing solutions.
High yield savings accounts are provided for customers.
Financing for health and wellness costs is offered.
Deals and financing options are provided for shoppers.
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Software Development Team
362 people
Leadership Team
181 people
Sales and Marketing
83 people
Data Analysis and Operations Team
59 people
Human Resources and Administration
46 people
Product Management Team
46 people
Finance and Accounting
23 people
Operations Team
20 people
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Funding Insights of Synchrony
Synchrony has successfully raised a total of $25M across 6 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $750 million completed in July 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Debt – Conventional — $750.0M
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First Round
First Round
(01 Jun 2006)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2019 | Amount | Debt – Conventional - Synchrony | Valuation |
investors |
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| Mar, 2011 | Amount | Debt – Conventional - Synchrony | Valuation |
investors |
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| Aug, 2010 | Amount | Debt – Conventional - Synchrony | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Synchrony
Synchrony has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Dresser-Rand and Third Security. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Late-stage venture capital is provided to US life sciences companies.
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Founded Year | Domain | Location | |
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Engineering solutions provider
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Synchrony
Synchrony has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include Allegro Credit, GPShopper and Loop Commerce. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Customizable e-gifting SaaS platform is offered to retailers.
|
2012 | ||||
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Mobile commerce platform and app developer for retailers and brands
|
2007 | ||||
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Pet insurance quoting platform
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2005 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Synchrony
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Synchrony Comparisons
Competitors of Synchrony
Synchrony operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as PayPal, Zscaler, Chainalysis, New York Life Insurance and Oracle, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online payment solutions are offered to consumers and businesses.
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| domain | founded_year | HQ Location |
Cybersecurity and zero trust solutions are delivered for secure networks.
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| domain | founded_year | HQ Location |
Blockchain data platform insights for cryptocurrency are delivered.
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| domain | founded_year | HQ Location |
Mutual life insurance and asset management services are provided.
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| domain | founded_year | HQ Location |
Hybrid cloud infrastructure solutions are delivered for business management.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Synchrony
Frequently Asked Questions about Synchrony
When was Synchrony founded?
Synchrony was founded in 1993 and raised its 1st funding round 13 years after it was founded.
Where is Synchrony located?
Synchrony is headquartered in Salem, United States.
Who is the current CEO of Synchrony?
Tom Quindlen is the current CEO of Synchrony.
Is Synchrony a funded company?
Synchrony is a funded company, having raised a total of $25M across 6 funding rounds to date.
How many employees does Synchrony have?
As of Dec 31, 2024, the latest employee count at Synchrony is 20,000.
What is the annual revenue of Synchrony?
Annual revenue of Synchrony is $20.76B as on Dec 31, 2024.
What does Synchrony do?
Synchrony is involved in offering a range of financial solutions including credit cards, retail financing, and banking products. High yield savings accounts, money market accounts, and CDs are provided through Synchrony Bank. Specialized credit cards such as Synchrony HOME, Car Care, and CareCredit for healthcare financing are offered. The company also operates a marketplace for deals and financing options across various retail categories. Services are extended to both individual consumers and businesses, focusing on flexible payment solutions and FDIC-insured products. Sectors served include retail, healthcare, and automotive industries.
Who are the top competitors of Synchrony?
What products or services does Synchrony offer?
Synchrony offers Synchrony Credit Cards, Synchrony Bank Savings, CareCredit, and Synchrony Marketplace.
Is Synchrony publicly traded?
Yes, Synchrony is publicly traded on NYSE under the ticker symbol SYF.
How many acquisitions has Synchrony made?
Synchrony has made 5 acquisitions, including Allegro Credit, GPShopper, and Loop Commerce.
Who are Synchrony's investors?
Synchrony has 2 investors. Key investors include Dresser-Rand, and Third Security.
What is Synchrony's ticker symbol?
The ticker symbol of Synchrony is SYF on NYSE.
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