Rainforest, a US-based embedded payments provider, announced on September 11, 2025, the successful close of a $29 million Series B funding round. Co-led by Matrix Partners and Infinity Ventures, the investment aims to accelerate team growth, develop new payment functionalities, and facilitate the company’s expansion into Canada.
Existing investors Accel and Tech Square Ventures also participated in the round. This latest capital infusion brings Rainforest’s total funding to $57.5 million since its founding in 2022 by CEO Joshua Silver.
Headquartered in Atlanta, Rainforest specializes in enabling vertical software platforms to integrate payment processing capabilities directly for merchants. The company focuses on serving the distinct requirements of industry-specific Software-as-a-Service (SaaS) companies, and a company statement indicates it now handles “billions of dollars in annual processing volume.”
The Series B capital will primarily be allocated to several strategic initiatives. Rainforest plans to accelerate hiring across its engineering and platform experience teams, enhance its product offerings with new capabilities such as tap-to-phone functionality and support for alternative payment methods, and execute a geographical expansion into the Canadian market. A specific timeline for the Canadian launch has not yet been disclosed.
This Series B follows an $8.5 million seed round in 2023 and a $20 million Series A round last year, which was also led by Matrix Partners. All investors from the Series A round returned to support the current Series B, signaling continued confidence in Rainforest’s growth trajectory.
