Singapore-based Rainforest launches with USD 36 mln seed funding

Thursday 6 May 2021 15:23 CET | News

Rainforest, an ecommerce brand aggregator, has officially announced its launch and a seed financing round of USD 36 million to buy and grow digital-native ecommerce brands.

The company will be initially acquiring Amazon-native brands from brand owners globally, focusing on Asia-based Amazon FBA sellers. The funding round consisted of USD 6.5 million in equity financing, led by Nordstar, with participation from Insignia Venture Partners, and a USD 30 million debt facility from a US-based debt fund. 

Amazon’s third-party GMV was USD 300 billion in 2020, growing at 50% year-on-year. With over 30% of the top third-party sellers based out of Asia, Rainforest is well-positioned to acquire these brands and scale them while providing sellers with a beneficial exit opportunity. 

Rainforest was founded in 2020 by experienced startup operators in commerce, marketplaces, and SaaS. Operational since January 2021, Rainforest has acquired three brands to date in the home and personal care categories. Rainforest will use the funds to acquire Amazon FBA brands, invest in technology, and hire top talent to join their Singapore-headquartered and globally distributed team.

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Keywords: ecommerce, funding, product launch, marketplace, SaaS
Categories: Payments & Commerce | Ecommerce
Countries: Asia
This article is part of category

Payments & Commerce