Rainforest, a US fintech start-up, secures $20 million in Series A funding round led by Matrix Partners.
October 19th 2023
Rainforest, a US-based fintech start-up, has raised $20 million in its Series A funding round. The round was led by Matrix Partners with participation from a cohort of investors, including Y Combinator and Stripe’s Patrick Collison.
Rainforest offers a suite of financial products to small businesses, including business loans and lines of credit, as well as a cash flow management tool. The start-up was founded in 2021 by CEO Mike Butler and CTO John Chen, who worked together at Stripe before starting Rainforest.
Quotes
“We are excited to partner with Matrix Partners and our other investors to help Rainforest continue to grow and provide small businesses with the financial tools they need to succeed,” said Butler.
“Rainforest is a game-changer for small businesses,” added Matrix Partners general partner David Sze. “Their platform provides small businesses with access to the same financial tools that large companies have, but at a fraction of the cost.”
The Series A funding round will be used by Rainforest to expand its product offerings, hire new talent, and grow its customer base.
About Rainforest
Rainforest is a fintech start-up that provides financial products to small businesses. The platform offers business loans, lines of credit, and a cash flow management tool. Rainforest was founded in 2021 by CEO Mike Butler and CTO John Chen, who worked together at Stripe before starting the company.
About Matrix Partners
Matrix Partners is a venture capital firm that invests in early-stage and growth-stage technology companies. The firm has invested in over 500 companies, including Airbnb, Dropbox, and LinkedIn.
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