Software Financing Startup Gynger Rises from Stealth, Raises $21.7M in Equity and Debt
Gynger, a NY-based software and infrastructure financing startup, emerged from stealth with $10 million in debt and $11.7 million in seed funding.
Upper90 and Vine Ventures led the equity round with participation from Gradient Ventures, Google’s AI-focused venture fund, m]x[v Capital, Quiet Capital and Deciens Capital. Upper90 is also providing the $10 million debt facility.
Founded by Mark Ghermezian, who co-founded Braze – a cloud-based customer engagement platform for multichannel marketing – Gynger’s core product is an automated underwriting model for financing software and infrastructure purchases.
The company provides a line of credit and debt financing to corporate customers, allowing them to pay their SaaS bills upfront while paying back Gynger later.
In a market where raising capital is increasingly challenging and runway is top of mind, Gynger provides an alternative financing solution to help companies secure the tools they need.
Gynger has funded contracts ranging from $1,000 to $1 million for platforms such as Datadog, Airtable, Secureframe, GCP, AWS, Amplitude, Apollo, Braze, Slack, and Zoom.
