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- Gynger Secures $20M in Series A Funding Led by PayPal Ventures
Gynger Secures $20M in Series A Funding Led by PayPal Ventures
Slice of Finance Team
26 Jun
Key Highlights:
Gynger raises $20M in Series A funding led by PayPal Ventures.
Additional $100M debt facility from Community Investment Management.
Funding to scale team, operations, and enhance embedded financing platform.
Platform facilitates flexible payment terms for technology purchases.
Partners include Snowflake, Salesforce, AWS, Cisco, ZoomInfo, and Datadog.
Source (PR Newswire)
Notable Quotes
"We are revolutionizing how companies buy and sell technology by providing a payments solution that addresses the needs of both vendors and their customers. We are thrilled to welcome PayPal Ventures as an investor to help push our growth to a whole new level."
"Companies from seed stage startups to enterprise can unlock flexible payment terms on any technology expense, making it possible to purchase tools needed for growth while also preserving cash. We couldn't be more thrilled to be supporting them on their journey."
"With software spend increasing more than any other spend category, Gynger is well positioned to provide valuable support to businesses nationwide. We are excited to partner with the company as they scale to meet the significant size of this market opportunity."
Our Take:
Gynger's recent $20M Series A funding, led by PayPal Ventures, is a significant milestone for the company as it positions itself as a leading player in the embedded financing space for technology purchases. By securing an additional $100M debt facility, Gynger is well-equipped to scale its operations and meet the increasing demand for flexible, non-dilutive financing solutions. The platform’s ability to offer tailored payment terms that cater to various business needs provides a substantial competitive edge in the rapidly growing B2B technology market. With the backing of prominent investors and a robust strategy to streamline technology transactions, Gynger is set to revolutionize the financial dynamics of tech procurement.