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Gynger secures $20 million in Series A funding to revolutionize corporate technology purchasing [Yahoo! Finance]
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US:NASDAQ Investor Relations: investor.paypal-corp.com
NEW YORK June 20, 2024 /PRNewswire/ -- Gynger , the first embedded financing platform for technology purchases, announced today that it 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. 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. "Over the last year, we have experienced tremendous growth and demand," Mark Ghermezian , Gynger's CEO and Founder commented, "We are revolutionizing how companies buy and sell technology by providing a payments solution that addresses the
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