Gynger receives $20 million in Series A funding round

Gyngera New York-based embedded financing platform for technology acquisitions, has raised $20 million in Series A funding round.

The round was led by PayPal Ventures, with participation from Gradient Ventures, Velvet Sea Ventures, BAG Ventures and Deciens Capital. In addition, Gynger secured a credit facility from CIM (Community Investment Management) with an agreement to finance up to $100 million.

The company intends to use the funds to grow its team and operations. The new facility will enable Gynger to scale its funding of technology spend to meet increasing customer demand.

Led by Mark Ghermezian, CEO and Founder, Gynger provides an embedded financing platform for buyers and sellers of technology. The platform enables companies to pay, finance and manage all of their technology spend from one dashboard. It provides technology providers with the ability to offer their customers flexible payment options and still get paid up front. The financing platform has already processed payments for hundreds of technology providers, including Snowflake, Salesforce, AWS, Cisco, ZoomInfo and Datadog.

Gynger uses advanced AI and data analytics to guarantee and approve loans for customers. It automatically detects technology expenses and recommends financing options that best fit the needs of buyers and sellers. By processing transactions through its secure payment platform, Gynger completes the end-to-end buying process.

Gynger was incubated by m)x(v Capital and founded in 2021.

FinSMEs

20.06.2024