TLDR:
- Gynger secured $20 million in Series A funding, along with a debt facility funding up to a total of $100 million.
- Gynger’s vision is to simplify and optimize the end-to-end technology purchasing process by offering flexible payment terms that adapt to each company’s unique business needs through non-dilutive capital.
Gynger, the first embedded financing platform for technology purchases, announced that it has raised $20 million in Series A funding, with PayPal Ventures leading the round. The company also closed up to $100 million in debt facility funding to fuel its growth. Gynger’s ultimate goal is to revolutionize the rapidly expanding tech purchasing landscape by offering a platform where buyers and sellers of technology can manage their financial transactions efficiently.
The Series A funding will allow Gynger to scale its team and operations while accelerating the development of its embedded financing platform. The platform, designed to simplify the technology purchasing process, aims to offer flexible payment terms that cater to the unique needs of businesses without diluting capital. By securing a debt facility from CIM (Community Investment Management), Gynger will be able to meet the increasing demand for technology financing.
Mark Ghermezian, Gynger’s CEO and Founder, expressed excitement about the company’s growth and the positive response from the market. With the increasing global technology spend estimated to reach $4.7 trillion, Gynger is well-positioned to provide a solution that makes it easier for businesses to finance their software and technology needs. PayPal Ventures and other investors are confident in Gynger’s mission to transform technology transactions by offering flexible payment terms to customers.
Gynger’s customers range from early-stage startups to pre-IPO companies across various industries. The platform has already facilitated payments for leading technology vendors like Snowflake, Salesforce, AWS, and more. By leveraging advanced AI and data analytics, Gynger aims to streamline the financing process for both buyers and sellers, making technology transactions seamless and efficient.
Overall, Gynger’s innovative approach to technology purchasing, along with its strategic partnerships and funding, positions the company as a key player in the tech financing landscape, offering a unique solution that benefits both buyers and sellers in the market.
