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Gynger provides AI-powered payments with embedded unsecured financing for technology buyers and sellers. It lets companies apply for credit; if approved, they access funds next business day to pay for tech expenses, then repay on a custom plan. All tech spending is managed from a single dashboard, simplifying procurement and cash flow. Unlike many fintechs, its financing is unsecured and tailored specifically to technology purchases.
Industries
Enterprise Software
Fintech
AI & Machine Learning
Financial Services
Company Size
11-50
Company Stage
Series A
Total Funding
$141.7M
Headquarters
New York City, New York
Founded
2021
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Total Funding
$141.7M
Above
Industry Average
Funded Over
4 Rounds
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Gynger, an embedded financing platform for B2B technology purchases, has raised $20 million in Series A funding led by PayPal Ventures, alongside a $100 million debt facility from Community Investment Management. The round brings total funding to $41.7 million, with participation from Gradient Ventures, Velvet Sea Ventures, BAG Ventures and Deciens Capital. Founded in 2021 by Braze co-founder Mark Ghermezian, Gynger provides unsecured credit lines to technology buyers whilst paying vendors immediately. The platform uses AI-driven underwriting to process applications in under 10 minutes. Recent case studies report 95% close rates and 30% faster sales cycles. The New York startup has processed payments for Snowflake, Salesforce, AWS and Cisco. The equity funding will support headcount and product development, whilst the debt facility enables large-scale purchase financing.
SAN JOSE, Calif., Dec. 4, 2024 /PRNewswire/ - Gynger, the leading flexible payments provider for B2B tech sales, has partnered with GMI Cloud, a leading AI-native GPU cloud provider, to connect AI builders to the latest in neo cloud solutions.
The growing importance of seamless, customer-centric financial solutions has transformed today’s digital economy. And innovations like embedded lending have revolutionized the financial services ecosystem by increasingly placing small and medium-sized businesses (SMBs) at the center of this transformative shift. In the new, emerging financial services landscape, SMBs are now wielding unprecedented influence over the development and delivery of financial products — making the digital commerce landscape more deterministic rather than reactive. Instead of choosing to accept certain forms of payment due to a fear of missing out (FOMO) on customer business, or playing catch-up to their larger peers and competitors, SMBs are now finding themselves able to design each step of the commerce experience to deliver the outcome they ultimately desire
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.
New York - Gynger, a platform specializing in providing capital to companies for technology purchases, has secured $20 million in a Series A funding round led by PayPal Ventures, as exclusively disclosed to TechCrunch.
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Industries
Enterprise Software
Fintech
AI & Machine Learning
Financial Services
Company Size
11-50
Company Stage
Series A
Total Funding
$141.7M
Headquarters
New York City, New York
Founded
2021
Find jobs on Simplify and start your career today