Rainforest, an Atlanta-based payment processing startup, has managed to raise over $30 million in its initial year, including $20 million from a Series A round and $12 million in seed funding.
The startup has caught the attention of significant venture capital firms and investors, intending to expand its services, enhance its innovative technology, and enrich its customer experience further.
Joshua Silver, the founder and CEO, has decided to utilize capital investments to advance market strategies and product development instead of relying on seed round funds. This new approach emphasizes growth and progress in an evolving market, hinting at an exciting future for Rainforest.
Founded in early 2022, Rainforest offers fine software applications powered by efficient payment processing methods.
Atlanta’s Rainforest secures over $30 million funding
San Francisco-based venture capital firm Matrix was the lead participant in the Series A funding round.
The startup generates revenue through a fee per transaction processed via its platform. The fee-based model is widely embraced due to an increasing preference for integrated software and payment services.
Rainforest’s revenue model instills trust among users for its transparency and justifiable costs, thus demonstrating the effectiveness of advanced technology merged with a customer-centric approach.
Despite minor volatility in North American startup funding, Rainforest has strengthened its position in the startup scene by securing Series A funding in merely two months. The company’s focus on sustainability has particularly impressed investors, increasing Series A funding.
The seed funding has been significant in Rainforest’s journey, enabling the completion of its platform and acquisition of its first customers, such as those in the healthcare and logistics sectors, which process millions through the platform annually.
Rainforest, positioned in Atlanta Tech Village and equipped with a 24-person team, plans to use the extra $20 million from the Series A round for sales, marketing, business growth, and improving customer experience.
