• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

E-commerce aggregator Rainforest raises $20M just months after its last funding

September 8, 2021 by David Barret Leave a Comment

Four months after its last funding announcement, Singapore-based e-commerce aggregator Rainforest has closed a $20 million pre-Series A round led by Monk’s Hill Ventures. Other participants included January Capital, Crossbeam Venture Partners, Amasia and Lo & Behold Group, along with returning investors Nordstar and Insignia Venture Partners.

Rainforest announced in May that it had raised $6.55 million in equity and a $30 million debt facility to fund acquisitions. The company says its latest raise means it now has more than $50 million to spend on acquiring e-commerce brands.

Founded by former Carousell and Fave executives, Rainforest buys mostly Asia-based Amazon brands and wants to become the e-commerce version of consumer goods conglomerate Newell Brands.

Founded by former Carousell and Fave execs, Rainforest gets $36M to consolidate Asia-Pacific Amazon Marketplace brands

Co-founder and chief executive officer J.J. Chai told TechCrunch in an email that Rainforest raised funding again because it’s doubled its portfolio since the last round and also has “a number of sizable acquisitions in the pipeline.” The company originally intended to raise about $8 million to $12 million to add to its seed round, but increased that amount to $20 million because of investor interest, he added. In addition to brand acquisitions, the funding will also be used on hiring and building its tech infrastructure.

Chai said Rainforest raised only equity this time because it hasn’t finished using the debt facility it got from Accial earlier this year.

Since launching in January 2021, Rainforest has acquired six brands, including one from China for $3.6 million, marking its first foray into the country, and plans to triple its brand portfolio by the end of this year. After buying brands, Rainforest scales them up through inventory management, cost optimization and expansions into new marketplaces and distribution channel. The company claims its portfolio brands have seen over 50% improvement in annual growth rates after their acquisitions.

Rainforest also announced it has hired Yev Ivanko, previously co-founder and CEO at NimbleSeller, as its vice president of acquisitions, and Christine Ng, who has worked in marketing and branding at Sephora, ShopStyle, Luxola and Shopbop, as its new vice president of brands.

Chinese sellers on Amazon in hot demand by VCs and e-commerce roll-ups

Una Brands launches with $40M to roll up brands on multiple Asia-Pacific e-commerce platforms

Source Link E-commerce aggregator Rainforest raises $20M just months after its last funding

David Barret
David Barret

Related posts:

  1. Taliban prepare to reveal new Afghan government amid economic turmoil
  2. Vodafone’s market-leading broadband deals come to an end tomorrow
  3. YouTravel.Me packs up $1M to match travelers with curated small group adventures
  4. Welcome to TechRadar’s PC Gaming Week 2021

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • 3½ Tales Of Daring Animal Escapes
  • Blue Lava And Battery Acid Lakes Adorn The Ijen Volcano of Indonesia
  • Off Antarctica’s Coast, A Hidden Network Of Over 300 Submarine Canyons Has Been Found
  • Record-Breaking Over 7 Billion People Will See “Blood Moon” Total Lunar Eclipse In September
  • Meet Chrysalis, The Generational Ship Designed To Take Humans On A 400-Year Trip To Alpha Centauri
  • New Quantum Radar Can Be Made As Small As A Die Thanks To Giant Atoms
  • Do Dolphins And Whales Really “Play” Together? Yes – And It’s A Joy To Watch
  • World’s Longest Suspension Bridge Between Sicily And Italy’s Boot Gets Go-Ahead
  • Scared Of Sea Beasties? These 4 Freshwater Monsters Might Just Put You Off Rivers Too
  • Do All Animals Yawn? No, But There Are Animals That Yawn Underwater
  • Do Fish Have Tongues?
  • Mysterious New Cosmic Source Is Up To 100 Times Brighter Than Almost All Supernova Remnants
  • We Still Don’t Fully Know What Long COVID Actually Is – And That’s A Problem
  • 15-Meter Monolith-Like Rock Discovered During Deep-Sea Expedition Off Papahānaumokuākea
  • There Are 7 Universal Moral Rules That All Cultures Abide By
  • This Parasitic Worm Could Hold The Key To New Alternatives To Opioid Treatments
  • New “Evolution Engine” Can Mutate Target Genes 100,000 Times Faster Than Normal
  • Surf’s Up! Deadly Saltwater Crocodiles Compensate For Lousy Swimming By Surfing Between Islands
  • Green Bank Observatory Allows Wi-Fi In “Quiet Zone” For The First Time Ever
  • 3I/ATLAS Is Fastest Interstellar Comet Ever Recorded, Clocking 130,000 MPH
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version