Gynger, a pioneering embedded financing platform for technology purchases, has successfully raised $20 million in Series A funding. This funding round was spearheaded by PayPal Ventures and saw contributions from Gradient Ventures, Velvet Sea Ventures, BAG Ventures, and Deciens Capital.
Founded in 2021 and headquartered in New York, Gynger aims to transform the technology purchasing landscape. The platform offers businesses a streamlined, automated method to finance their software and technology acquisitions. With this new influx of capital, Gynger intends to expand its team and operations, pushing forward its goal of evolving its embedded financing platform into a holistic payments solution for technology transactions.
Additionally, Gynger has secured a substantial debt facility of up to $100 million from Community Investment Management (CIM). This facility will bolster Gynger’s capacity to meet the growing demand for technology financing solutions by enhancing its financing capabilities.
Gynger’s CEO highlighted the company’s mission: “We are revolutionizing how companies buy and sell technology by providing a payments solution that addresses the needs of both vendors and their customers. We are building the future of flexible financing for all technology. We are thrilled to welcome PayPal Ventures as an investor to help push our growth to a whole new level.”
The company’s unique approach enables businesses to purchase software and services using non-dilutive capital, optimising cash flow through flexible payment terms. Gynger’s platform has already facilitated payments for numerous leading technology vendors, including Snowflake, Salesforce, AWS, Cisco, ZoomInfo, and Datadog.
Gynger’s financing solutions benefit both technology buyers and sellers. For vendors, the platform offers alternative purchasing methods for their customers, which can accelerate sales and improve cash flow. Vendors can reduce Day Sales Outstanding (DSOs) and secure long-term commitments while receiving upfront payments through Gynger’s platform.
The platform leverages advanced AI and data analytics to swiftly underwrite and approve credit for customers. It automatically detects technology spend, recommending optimal financing opportunities for both buyers and sellers. This comprehensive, end-to-end solution simplifies the purchasing process for businesses across various industry verticals.
