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Gynger secures $20m in Series A and $100m in debt facility from PayPal Ventures

By Gloria Mathias

June 24, 2024

  • Debt Facility
  • Embedded Finance
  • fintech funding
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Gynger, Fintech News, Fintech solutions, Fintech Funding, Series A, Debt Facility, PayPal Ventures, Embedded Finance, Fintech platform, Gynger, the embedded financing platform for technology purchases, has raised $20 million in Series A funding, led by PayPal Ventures, with participation from Gradient Ventures, Velvet Sea Ventures, BAG Ventures and Deciens Capital.

Gynger will use the funding to scale its team and operations and accelerate its vision of transforming its embedded financing platform into a full-scale payment solution for buying and selling technology.

In addition, Gynger secured a debt facility from CIM (Community Investment Management) with an agreement to fund up to $100 million. The new facility will enable Gynger to scale its technology financing to meet increasing customer demand.

“Over the last year, we have experienced tremendous growth and demand,” said Mark Ghermezian, Gynger’s CEO and Founder. “We are revolutionizing how companies buy and sell technology by providing a payment solution that addresses the needs of both vendors and their customers. We are building the future of flexible financing for all technologies. We are thrilled to welcome PayPal Ventures as an investor to help push our growth to a whole new level.”

Gynger’s vision is to simplify and optimize the end-to-end technology purchasing process. The company is building a fully automated, seamless, embedded financing platform built for both buyers and sellers of technology that will truly revolutionize the way technology transactions are made today.

“Gynger is changing the way businesses buy software,” said James Loftus, PayPal Ventures Managing Partner. “Companies from seed stage startups to enterprises can unlock flexible payment terms on any technology expense, regardless of the vendor’s terms, making it possible to purchase tools needed for growth while also preserving cash. We couldn’t be more thrilled to be supporting them on their journey.”

Gynger utilizes advanced AI and data analytics to underwrite and approve credit for customers faster than any other financing solution available. It automatically detects technology expenditures to recommend financing opportunities that best suit the needs of buyers and sellers. By seamlessly facilitating transactions through its secured payment platform, Gynger completes the end-that-end purchasing process.

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