# Synchrony

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/synchrony

- Industry: Industrial Machinery
- Headquarters: Salem, US
- Website: www.synchrony.com
- Total disclosed funding: $25M
- Latest round: Series C (Jan 13, 2010)
- Investors on record: 1

## About

Synchrony Inc. is a financial services company based in the US that specializes in consumer credit solutions, offering a variety of credit cards and financing options to enhance purchasing power for consumers across various sectors.Founded in Salem, US, Synchrony Inc. focuses on providing consumer credit solutions. The company was acquired by Dresser-Rand in January 2012 for USD 50 mn. Synchrony operates predominantly in the United States, serving a diverse clientele with its range of credit products.Synchrony offers a diverse range of financial products and services primarily centered around consumer credit solutions. Their core offerings include various credit cards such as the MyLowe's Rewards Credit Card and Synchrony Car Care Credit Card, which provide promotional financing options for consumers looking to make significant purchases in categories such as home improvement, automotive services, and healthcare. These products are designed for end users who seek flexible payment solutions that allow them to manage larger expenses over time, typically with promotional interest rates like 0% APR for specific durations. Synchrony caters to a broad client base, including individual consumers and retail partners across the United States, where their financial solutions are embedded in the payment systems of well-known brands such as Lowe's, Amazon, and Sam's Club. The company's geographical market spans nationwide, focusing on both metropolitan and suburban areas, ensuring accessibility for a wide array of customers.Synchrony generates revenue through interest payments and fees associated with its credit products and services. Transactions often occur directly between consumers and the retail partners that facilitate the provision of Synchrony's credit offerings, creating a B2B2C model where retailers offer Synchrony financing options to their customers. For example, when a consumer utilizes a Synchrony card for a purchase at a partnered retailer, Synchrony earns revenue from the interest charged on any outstanding balances, as well as from potential fees associated with the credit services. Additionally, partnerships with retailers lead to performance-based revenue, where Synchrony may receive compensation from retail partners based on the volume of credit extended to their customers. Their flagship products, like the Synchrony Premier Mastercard, are part of this revenue structure, designed to incentivize consumer spending while generating recurring revenue through interest and transactional fees.Looking ahead, Synchrony is focused on developing new credit products aimed at enhancing customer engagement and expanding its market reach. The recent acquisition by Dresser-Rand provides a strategic foundation for potential geographic expansion, specifically targeting underserved metropolitan areas by 2025. The funding from the recent Trade Sale of USD 50 mn will be utilized to support these initiatives, ensuring the company remains competitive and responsive to market demands.

## Funding rounds

- Series C, Jan 13, 2010, $10M — Third Security
- Series B, Nov 29, 2007, $10M — Third Security
- Series A, Feb 21, 2006, $5M — Third Security

## Investors

- Third Security (https://capitalatlas.ai/funds/third-security) — Series A, Series B, Series C