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Dear fellow startup founders,
As the chaotic weekend came to a close, we took a collective sigh of relief when the US Treasury, Fed, and FDIC announced that depositors at both Silicon Valley Bank and Signature Bank would be able to access their capital this week.
Behind the scenes at Gynger, we continued to brainstorm and strategize on the best way to support you through this transitionary period.
While the government is stepping in to make all depositors whole, we know many founders had lines of credit or debt with SVB/Signature Bank. Many founders needed this capital to cover current burn, and they are now in need of alternative funding to extend their runway.
To support those impacted, Gynger will provide Instant Working Capital. In addition to helping companies finance their software and infrastructure expenses, Gynger is now providing funding for general working capital. We understand the urgent need for capital in uncertain times, and are committed to providing emergency funding to help you weather this storm.
We are inspired by the resilience and resourcefulness of our fellow founders during this crisis, and we want to do our part to help you succeed. Together, we will get through this.
Please do not hesitate to reach out to me directly at mark@gynger.io. We are always here to help.
Sincerely,
Mark Ghermezian
Founder & CEO
