Sankaet Pathak
Sankaet Pathak is an Indian-American businessman and entrepreneur known for founding the robotics startup Foundation, and fintech company Synapse Financial Technologies.
Early life and education
Sankaet Pathak grew up in Rajasthan, India. He moved to Tennessee to attend the University of Memphis, where he studied computer engineering, mathematics and physics. He graduated with a master's degree in electrical engineering. In 2014, he was an inaugural Crews Center Entrepreneurship Fellow at the FedEx Institute of Technology.Career
Synapse
While living with roommates in Twin Peaks, San Francisco, Pathak founded the banking as a service platform Synapse Financial Technologies. The company was originally founded to provide banking services to traditionally underbanked customers. The company launched in 2014 and raised $51 million from investors including Andreessen Horowitz. It partnered with around 100 financial technology companies including Dave and Honey, and indirectly provided banking services to an estimated 10 million retail customers. In 2022, the company was listed as one of the 100 fastest growing financial services companies in the United States by Inc. Magazine.In 2024, after ten years of operations, the company filed for bankruptcy. Tens of thousands of customers were found without access to funds for an extended period. Due in part to inadequate ledgering, a shortfall of $65m to $95m was reported to be missing. As of 2026, reimbursement from the Consumer Financial Protection Bureau's Civil Penalty Fund is pending.