Gynger, an embedded financing platform for technology purchases, raised $20 million in Series A funding led by PayPal Ventures. Gynger plans to use this capital to expand its team and operations. Its goal is to transform its platform into a comprehensive payments solution for the technology purchasing sector.
Gynger’s platform combines software and non-dilutive capital to help businesses scale with the technology they need. It enables businesses to pay, finance, and manage all of their technology expenses from a central dashboard. Gynger’s services help businesses optimize their cash flow by allowing them to spread payments out over time, while also paying vendors upfront, aiming to simplify the sales process and help secure long-term commitments.
In addition to the equity funding, Gynger has also secured a debt facility from Community Investment Management that could reach up to $100 million. This facility is intended to support Gynger’s growth by financing technology expenditures to meet rising customer demand.
