Gynger, the pioneering embedded financing platform for technology purchases, has announced a significant milestone with the successful closure of a $20 million Series A funding round. The investment, led by PayPal Ventures and joined by Gradient Ventures, Velvet Sea Ventures, BAG Ventures, and Deciens Capital, underscores Gynger’s pivotal role in revolutionizing the landscape of corporate technology procurement.
In addition to the equity funding, Gynger has secured a debt facility of up to $100 million from CIM (Community Investment Management), positioning itself to scale operations and meet escalating demand in the rapidly expanding tech purchasing sector.
Mark Ghermezian, CEO and Founder of Gynger, expressed enthusiasm about the company’s trajectory: “We are reshaping how businesses approach technology acquisition by offering a flexible, embedded financing solution that adapts to diverse corporate needs. This investment round marks a significant step forward in our mission to streamline and optimize the technology purchasing process for enterprises worldwide.”
Gynger’s platform acts as a two-sided Accounts Payable (AP) and Accounts Receivable (AR) solution, facilitating seamless transactions between technology buyers and sellers. By providing non-dilutive capital, Gynger empowers businesses to manage cash flow effectively while acquiring essential software and services under flexible payment terms.
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The global technology spend, projected to exceed $4.7 trillion annually according to Forrester, highlights the critical role Gynger plays in enabling businesses to leverage advanced technologies like generative AI without financial constraints. Already trusted by leading vendors such as Snowflake, Salesforce, AWS, Cisco, ZoomInfo, and Datadog, Gynger’s platform supports a broad spectrum of enterprises from early-stage startups to established corporations across various industries.
James Loftus, Managing Partner at PayPal Ventures, emphasized the strategic importance of supporting Gynger’s growth: “Gynger’s innovative approach empowers companies of all sizes to unlock the potential of advanced technology solutions without compromising financial stability. We are proud to partner with Gynger as they continue to redefine corporate finance in the digital age.”
By leveraging advanced AI and data analytics, Gynger streamlines credit approval processes, ensuring swift and efficient financing solutions tailored to both buyers and sellers. This streamlined approach not only enhances transaction efficiency but also supports vendors in accelerating sales cycles and optimizing revenue streams.
Jacob Haar, Managing Partner of Community Investment Management, highlighted Gynger’s pivotal role in facilitating software spend management: “As software investments continue to rise, Gynger’s platform offers indispensable support for businesses seeking flexible financing solutions. We are excited to collaborate with Gynger as they expand their footprint and impact within this dynamic market.”
Gynger remains committed to pioneering innovation in corporate technology procurement, delivering comprehensive solutions that empower businesses to thrive in an increasingly digital landscape.
