TLDR:
- Rainforest, a US fintech start-up, secures $20 million in Series A funding led by Matrix Partners.
- The funding will be used to boost staff headcount, drive growth, and further develop technology and product range.
US fintech start-up Rainforest, based in Atlanta, Georgia, has announced a successful $20 million Series A funding round led by venture capital firm Matrix Partners. The round also included support from other firms that participated in Rainforest’s previous seed funding round. Founded in 2022, Rainforest provides embedded payment processing technology tailored for vertical software platforms. The company plans to use the new funding to expand their team, drive growth, and enhance their technology and product offerings. Rainforest has experienced significant growth in payment volume and aims to continue supporting vertical software companies in increasing revenue and reducing churn. With the new funding, Rainforest has also added a new member, Matt Brown from Matrix Partners, to its board. This investment brings Rainforest’s total funding raised to $31.75 million.
