Gynger, a tech financing platform, raised USD 20 million in a Series A funding round led by PayPal Ventures, with participation from Gradient Ventures, Velvet Sea Ventures, BAG Ventures, and Deciens Capital. The company also secured a USD 100 million debt facility from CIM.
The funding will be used to scale Gynger's team, operations, and embedded financing platform.
Gynger's platform uses AI and data analytics to underwrite and approve credit faster than other financing solutions. It allows businesses to purchase software through non-dilutive capital, optimizing cash flow. The platform has facilitated payments for vendors like Snowflake, Salesforce, and AWS.
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