PayPal Ventures Leads $20M Investment in Gynger
Gynger, a platform dedicated to providing capital for technology purchases, has successfully closed a $20 million Series A round led by PayPal Ventures. The financing, exclusively revealed to TechCrunch, increases the New York-based startup’s total venture capital raised to $31.7 million. This latest round saw participation from Gradient Ventures (Google’s AI-focused venture fund), Velvet Sea Ventures, BAG Ventures, and Deciens Capital.

Gynger, a platform dedicated to providing capital for technology purchases, has successfully closed a $20 million Series A round led by PayPal Ventures. The financing, exclusively revealed to TechCrunch, increases the New York-based startup’s total venture capital raised to $31.7 million. This latest round saw participation from Gradient Ventures (Google’s AI-focused venture fund), Velvet Sea Ventures, BAG Ventures, and Deciens Capital.
In addition to the equity raise, Gynger has secured a $25 million debt facility from Community Investment Management (CIM). This agreement includes provisions allowing the company to borrow up to a total of $100 million.
Founded in June 2021, Gynger was incubated out of m]x[v Capital, an early-stage venture fund based in New York City and founded by Mark Ghermezian. Ghermezian, who also founded Braze, a cloud-based customer engagement platform for multichannel marketing, noted the significant challenges both in selling software and for buyers to purchase it during his tenure at Braze.
Gynger works with both buyers and sellers of technology, offering a comprehensive solution to “finance, pay and manage” all expenses related to purchasing technology, including software, hardware, cloud, and infrastructure. The company provides businesses with access to unsecured lines of credit, enabling them to extend their runway and preserve cash.
The platform utilizes advanced artificial intelligence and data analytics to underwrite and approve credit for customers. It automatically detects technology spending to recommend financing opportunities that best fit the needs of both buyers and sellers, according to Ghermezian.
Gynger asserts that its application process takes less than 10 minutes, with credit decisions made the next day and immediate access to funds once approved. The company offers various payment term options, pays vendors on behalf of its customers, and then customers repay Gynger later. Essentially, Gynger functions as a “buy now, pay later” service for companies purchasing technology.
With this recent investment and debt facility, Gynger aims to expand its reach and assist more companies in financing their technology purchases. Mark Ghermezian highlighted the innovative nature of Gynger’s solution, emphasizing that it allows businesses to manage their cash flow more effectively while obtaining the technology they need to grow and succeed.
Gynger’s service stands out in its ability to streamline the technology purchasing process, providing quick and efficient financing options that cater to the specific needs of modern businesses. By leveraging AI and data analytics, Gynger simplifies the credit approval process, ensuring that companies can secure the necessary funds without the lengthy traditional procedures.
As Gynger continues to evolve, it is poised to become a crucial player in the tech financing landscape, offering unique solutions that address the financial challenges faced by businesses in acquiring essential technology.