Gynger
“Can a B2B BNPL platform for technology purchases become the full-stack cash-flow operating system for both buyers and sellers of software?”
Founded2021
HQNew York, NY, USA
FoundersMark Ghermezian
Total raised$31.7M equity + $100M debt facility
Latest roundSeries A, June 2024
IndustryFintech / Lending
The story
Founded in 2021 as a lender specifically for B2B software and infrastructure purchases — essentially BNPL for tech spend. Initially focused on buyers (startups buying SaaS tools), Gynger evolved into a two-sided platform: buyers can finance tech bills while sellers (technology vendors) can advance cash on receivables and offer flexible payment terms to their own customers. By 2024 the company repositioned as a 'full-scale payments solution for buying and selling of technology', adding virtual cards, AR financing, and white-labeled checkout flows for sellers.
Product timeline
2021
Gynger incubated out of m]x[v Capital, founded by Mark Ghermezian (also co-founder of Braze) to provide business loans specifically for software and infrastructure purchases.· lending
2022
Gynger launched out of stealth, offering companies loans earmarked for SaaS and software/infrastructure spend.· lending
2024
Completed $20M Series A led by PayPal Ventures and secured a $100M debt facility from Community Investment Management (CIM) to scale technology-spend financing.· lending
2024
Expanded product to include AR financing (Capital AR), virtual cards, bill financing, reimbursement capital, and full AR workflow automation for technology sellers.· lending
The stack
3 layers disclosed in Gynger’s embedded-finance stack
Banking / BaaS
Community Federal Savings Bank
Lending
in the full report
Sponsor bank
in the full report
Accounting gap: significant
7 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.