PayPal Ventures Leads Gynger Through $20M Series A Round

This round of funding for Gynger, which provides businesses with the ability to 'buy now, pay later' for technological goods, was led by PayPal Ventures. According to an exclusive statement made to TechCrunch, the platform Gynger, which provides firms with financing for the acquisition of technology, has successfully raised twenty million dollars in a Series A round headed by PayPal Ventures.

Including participation from Gradient Ventures, Velvet Sea Ventures, BAG Ventures, and Deciens Capital, the financing takes the total amount of venture capital raised by the New York-based business to $31.7 million. Gynger has received a financing facility from CIM (Community Investment Management) with an agreement to fund up to $100 million. This is in addition to the equity raise that was previously mentioned.

m]x[v Capital, an early-stage startup fund based in New York City and headed by Mark Ghermezian, was the provider of the incubator that gave birth to Gynger in June of 2021. Additionally, Ghermezian was the founder of Braze, a consumer engagement platform that was hosted in the cloud and implemented for multichannel marketing. According to what he shared with TechCrunch at the time of the most recent funding round for the company, he witnessed firsthand how challenging it was to sell software and, conversely, how challenging it was for purchasers to acquire the program to begin with.

Customers' credit applications are underwritten and approved by Gynger, according to the company, using sophisticated artificial intelligence and data analytics. Gynger collaborates with both purchasers and vendors, claiming to assist businesses in