Rainforest, a payments-as-a-service startup, raised $20M in Series A funding led by Matrix Partners, aiming to challenge Stripe in the embedded payments market.

Rainforest, a payments-as-a-service startup, raised $20M in a Series A funding round led by Matrix Partners, bringing their total funding to $31.75M. The Atlanta-based company plans to expand its platform success team, advance technology and product offerings, and launch new go-to-market initiatives. Focusing on small to medium-sized businesses, Rainforest's platform has experienced 17-fold payment volume growth and aims to challenge Stripe in the embedded payments market for SaaS providers.

June 26, 2024
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