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Rainforest Secures $20 Million in Series A Funding

Atlanta-based fintech company Rainforest raises $20 million in Series A funding to enhance its embedded payments platform for software companies, backed by Accel and other prominent investors.

Background Information

Company Overview: Rainforest, founded in early 2022, is an Atlanta-based fintech company specializing in providing embedded payment solutions for software platforms. The company was established to address the challenges software companies face in integrating payment systems efficiently and securely. Rainforest’s platform offers a comprehensive suite of services, including contractual merchant portability, risk management, compliance, and robust payment processing capabilities. The platform is designed to help software companies seamlessly embed and monetize payments without the operational and compliance burdens typically associated with payment processing.

Founders: Joshua Silver, the founder and CEO of Rainforest, brings a wealth of experience from his background in healthcare software and payments consulting. Alongside a team of industry veterans, Silver founded Rainforest to create the embedded payments platform they always wanted but couldn’t find in the market. Other key members of the leadership team include Chris Church (VP Engineering), Cailey Ryckman (VP Finance), and Becky Kopplin (VP Payments), who collectively bring over 20 years of payments and SaaS experience to the company.

Details of the Funding Round

Rainforest recently announced the successful completion of its $20 million Series A funding round. This round was led by Accel, a prominent venture capital firm, and included participation from Infinity Ventures, BoxGroup, The Fintech Fund, Tech Square Ventures, and Ardent Venture Partners.

The funding will primarily be used to enhance Rainforest’s embedded payments platform, which is designed specifically for software companies. This platform allows software companies to integrate payment processing into their systems with minimal operational and compliance burdens. The funds will be allocated towards expanding the team, refining the product, and supporting the company’s growth in various sectors such as healthcare, non-profit, trucking, logistics, construction, and association management.

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Rainforest’s unique approach includes contractual merchant portability and a consultative service model, which have attracted significant client commitments representing over $500 million in processing volume shortly after its launch in early 2022.

Rainforest Leadership
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Product and Service Offering

Rainforest’s platform is built to facilitate embedded payments for software companies, enabling them to monetize payments seamlessly. The platform offers a range of features including:

  • Contractual Merchant Portability: This feature ensures that software platforms can switch payment processors without disrupting their business operations, providing them with optimal economic benefits and minimal compliance hassles.
  • White Glove Service: Rainforest provides expert support to help platforms achieve long-term success and widespread adoption of their payment systems.
  • Risk Management and Compliance: The platform aids software companies in navigating the complexities of risk management and compliance, which is often a significant challenge in the fintech industry.

Rainforest’s commitment to providing robust payment solutions is underscored by its focus on offering pre-built, embeddable components for payments, reporting, chargebacks, and merchant onboarding. These components help software companies reduce development time and accelerate their revenue growth.

By addressing the specific needs of software platforms, Rainforest positions itself as a crucial partner for companies looking to embed financial services without the need to become full-fledged fintechs themselves. This approach not only simplifies payment integration but also empowers software companies to reap financial benefits from embedded payments.

Market Position and Impact

Rainforest is positioned as a significant player in the fintech industry, particularly within the embedded payments sector for software platforms. The company’s unique approach, which focuses on providing tailored payment solutions that integrate seamlessly with software platforms, addresses a critical gap in the market. Unlike traditional payment providers that cater directly to merchants, Rainforest specializes in enabling software platforms to embed and monetize payment processes while minimizing operational and compliance burdens. This strategic focus has allowed Rainforest to quickly secure substantial client commitments and establish a strong foothold across diverse sectors such as healthcare, non-profit, trucking, and logistics.

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Rainforest’s market position is bolstered by its ability to offer comprehensive support to software platforms, including automated testing, quality assurance, and compliance services. This not only saves time and reduces costs for clients but also helps build trust with end-users and regulators by ensuring high standards of security and reliability.

Client and Investor Feedback

Rainforest has received positive feedback from both clients and investors, highlighting the effectiveness and innovation of its embedded payments platform. Joshua Silver, Rainforest’s founder and CEO, has emphasized the company’s mission to create the embedded payments solution they always wanted but couldn’t find in the market. This vision has resonated with leading investors such as Accel, who led the recent Series A funding round, along with Infinity Ventures, BoxGroup, The Fintech Fund, Tech Square Ventures, and Ardent Venture Partners.

Clients of Rainforest, including companies like RoadSync, PayGround, Rose Rocket, and Curae, have praised the platform for its robust product offerings, consultative service model, and expert support. These clients appreciate the economic benefits and reduced compliance burdens provided by Rainforest, which have enabled them to achieve significant processing volumes and enhance their revenue streams.

Investors have also expressed confidence in Rainforest’s differentiated approach and its potential to set a new industry standard in embedded payments. The substantial funding secured from prominent venture capital firms underscores the strong market validation and future growth potential of Rainforest’s platform.

Future Outlook

Rainforest’s future looks promising as it continues to innovate and expand its offerings in the fintech space. The company’s primary focus will be on enhancing its embedded payments platform to better serve software platforms, ensuring seamless integration and monetization of payment processes with minimal operational and compliance burdens.

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Strategic Initiatives: Rainforest plans to leverage the recent funding to further develop its product and expand its team. The company aims to strengthen its foothold in various sectors, including healthcare, non-profit, logistics, and niche retail, by providing tailored payment solutions that address the unique needs of these industries. Additionally, Rainforest intends to explore new market opportunities and expand its client base globally.

Challenges and Opportunities

Challenges: The fintech industry faces several challenges, including regulatory compliance, data security, and the need for continuous innovation. As fintech solutions become more integrated into various sectors, ensuring compliance with a myriad of regulations becomes increasingly complex. Additionally, maintaining robust data security measures to protect against cyber threats is paramount.

Opportunities: Despite these challenges, there are numerous opportunities for growth and innovation in the fintech sector. The increasing demand for embedded payment solutions, especially among software platforms looking to enhance their service offerings, presents a significant growth area for Rainforest. Furthermore, the adoption of AI and machine learning technologies can drive efficiency and cost savings, making Rainforest’s solutions more attractive to potential clients.

Rainforest’s ability to navigate these challenges and capitalize on emerging opportunities will be critical to its success in the rapidly evolving fintech landscape. By continuing to innovate and expand its offerings, Rainforest is well-positioned to become a leading player in the embedded payments space, driving growth and setting new industry standards.


Rainforest has quickly established itself as a key player in the embedded payments space since its founding in early 2022. With the global fintech market projected to grow significantly, Rainforest is well-positioned to capitalize on this trend, leveraging advancements in AI and machine learning to drive efficiency and expand its reach. By continuing to innovate and address the unique needs of software platforms, Rainforest is poised for sustained success in the fintech landscape.

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