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Singapore-based Rainforest launches with USD 36 mln seed funding Thursday 6 May 2021 15:23 CET | News
Rainforest, an ecommerce brand aggregator, has officially announced its launch and a seed financing round of USD 36 million to buy and grow digital-native ecommerce brands.
The company will be initially acquiring Amazon-native brands from brand owners globally, focusing on Asia-based Amazon FBA sellers. The funding round consisted of USD 6.5 million in equity financing, led by Nordstar, with participation from Insignia Venture Partners, and a USD 30 million debt facility from a US-based debt fund.
Amazon’s third-party GMV was USD 300 billion in 2020, growing at 50% year-on-year. With over 30% of the top third-party sellers based out of Asia, Rainforest is well-positioned to acquire these brands and scale them while providing sellers with a beneficial exit opportunity.
Rainforest, a buyer of Amazon brands, launches with $36m seed funding led by Nordstar
The Rainforest team. [L-R] Elita Subaja, Business Operations & Strategy Director; JJ Chai, Co-founder & CEO; Jerry Ng, Brand Manager Premium
Singapore-based Rainforest, an acquirer and aggregator of e-commerce brands, has announced its formal launch with a seed funding of $36 million. The funding round a mix of debt and equity was led by UK-based Nordstar Partners, with participation from Insignia Venture Partners, according to a statement on Thursday.
Rainforest, Asia’s first e-commerce aggregator, was started by former executives of the used-goods marketplace Carousell and fintech firm Fave.
E-commerce brand aggregator to use proceeds to acquire Amazon FBA brands
6 May 2021 |
The Asset
Rainforest, an e-commerce brand acquirer and aggregator based in Singapore, has raised US$36 million in a seed funding round. Operational since January 2021, the startup has already acquired three brands in the home and personal care categories.
The funding round consisted of US$6.5 million in equity financing, led by Nordstar with participation from Insignia Venture Partners, and a US$30 million debt facility from a US-based debt fund.
The company acquires consumer e-commerce brands, providing entrepreneurs a healthy exit, and invests in the acquired brands to grow them globally.