US start-up Gynger completes $20m Series A and lands $100m debt facility
Gynger, an AI-driven payments platform, has concluded a $20 million Series A round while also bagging a $100 million debt facility.
Gynger secures $20 million Series A
The New York-headquartered firm’s Series A was spearheaded by PayPal Ventures, alongside additional backing from BAG Ventures, Deciens Capital, Gradient Ventures and Velvet Sea Ventures.
The funds have been earmarked to increase Gynger’s workforce and propel its transition into a “full-scale payments solution for buying and selling of technology”.
Meanwhile, the start-up has also secured a debt facility with Californian impact investment firm CIM (Community Investment Management), which has agreed to finance the payments platform up to $100 million.
Gynger says that the new facility will allow it to “scale its financing of technology spend to meet increasing customer demand”.
Founded in 2021, Gynger claims to be the first AI-powered payments platform with embedded financing that’s specifically designed for tech buyers and sellers. Its solution enables merchants to pay and manage their technology expenses from one dashboard.
Gynger is the latest in a series of fintechs to wrap up a Series A round in recent months, following Aussie banking software developer Constantinople, Paris-based start-up Payflows, and Turkish wealthtech Midas, which secured $45 million in April.
