Gynger, an Embedded Financing Platform for Tech Purchases, Announces Close of Debt Facility

PayPal Ventures is leading Gynger‘s $20 million Series A round.

Gynger, the embedded financing platform for technology purchases, also announced the close of “up to $100 million debt facility to fuel its growth.”

Gynger, the embedded financing platform for technology purchases, had its investment round 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 payments solution for buying and selling of technology.”

In addition, Gynger secured a debt facility “from CIM (Community Investment Management) with an agreement to fund up to $100MM.”

The new facility will enable Gynger to “scale its financing of technology spend to meet increasing customer demand.”

Mark Ghermezian, Gynger’s CEO and Founder commented:

“Over the last year, we have experienced tremendous growth and demand. 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.”

Technology is one of the top growing B2B categories, with over $900 billion “in annual spend on SaaS alone.”

According to Forrester, global technology spend is “estimated to grow to $4.7 trillion over the next year, fueled by the increase of generative AI.”

With technology spend expected to rise over the next decade, Gynger is already “providing customers with a solution that makes it easier than ever before for businesses to finance their software and technology needs.”

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.”

James Loftus, PayPal Ventures Managing Partner said:

“Gynger is changing the way businesses buy software. Companies from seed stage startups to enterprise 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 provides a financing solution for businesses “looking to acquire the technology they need – companies can purchase software and services through non-dilutive capital.”

This allows businesses to optimize their cash flow “by spreading payments out over flexible terms that fit their budget and growth trajectory.”

Gynger’s financing platform has “facilitated payments for hundreds of leading technology vendors including Snowflake, Salesforce, AWS, Cisco, ZoomInfo, and Datadog.”

By making capital more accessible, Gynger enables technology users to purchase the software they need in order to scale, while “still paying on their terms. Gynger’s customer base spans a wide-range of organizations, from early-stage startups to pre-IPO companies across all industry verticals.”

Gynger utilizes AI and data analytics to “underwrite and approve credit for customers faster than any other financing solution available.”

It automatically detects technology spend “to recommend financing opportunities to best fit the needs of both buyers and sellers.”

By facilitating the transactions through its secured payment platform, Gynger completes “the end-to-end purchasing process.”

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