Rainforest Expands to Canada with $29M Series B
Rainforest Expands to Canada with $29M Series B
Rainforest, a U.S.-based embedded payments provider built for software platforms, has raised an oversubscribed $29M Series B - bringing total funding to $57.5M. The new capital will support hiring, product development, and international growth, with Canada as its first expansion market outside the U.S.
Since its Series A, Rainforest has grown revenue more than 10x, with annual processing volumes in the billions. Nearly 100 software platforms in healthcare, nonprofits, professional services, and youth sports now use Rainforest to power payments.
Key Product Advancements
Rainforest continues to strengthen its platform with new capabilities designed for software companies:
✅ Embeddable chargeback management for simpler dispute handling
✅ Advanced ACH with real-time bank validation and balance checks
✅ Real-time BIN lookup to support compliant surcharging
✅ Partial authorizations for higher approval rates (e.g., HSA/FSA)
✅ Forward API to securely share data with trusted third parties
Why This Matters
For vertical SaaS companies, embedded payments are critical for revenue and customer retention - but fraud, onboarding delays, poor data, and failed payments remain major hurdles. Rainforest addresses these with one modern stack and hands-on support, migrating large merchant volumes in weeks rather than years.
What This Means for the Industry
Software Platforms:
A chance to turn payments into predictable revenue while keeping control of the customer experience.
Merchants:
Faster onboarding, fewer failed transactions, and stronger fraud protection through the platforms they already use.
The Canadian Market:
Rainforest’s entry brings more choice for SaaS providers, boosting competition and innovation in embedded payments.
