BLOG

Kindrik Partners advises e-commerce aggregator Rainforest on US$36m seed round

Logo_white

share:

Share on facebook
Share on twitter
Share on linkedin
Share on email

Our Southeast Asia team have advised e-commerce aggregator Rainforest on its recently completed seed funding round. The round was led by Nordstar with Insignia Ventures Partners also participating. The round includes $6.5 million in equity financing and a $30 million venture debt component from an undisclosed American debt fund.

Rainforest was founded in January 2021 by JJ Chai, Jason Tan and Per-Ola Röst. The founders are alumni of some of Southeast Asia’s top startups including Carousell and Fave (who have also been our clients).

Rainforest acquires direct to consumer (DTC) e-commerce brands who sell through Amazon marketplace. It is focused on ‘rolling up’ APAC-based microbrands and has acquired three brands so far. The funding will be used to add more brands sold through Amazon’s B2B service Fulfilled By Amazon (FBA) to Rainforest’s portfolio.

Partner Lee Bagshaw says of the deal, “It was a pleasure to help Rainforest with their seed funding round. The team’s previous experience in rapidly scaling digital companies is second to none and we look forward to seeing Rainforest’s progress having raised sizable funding.”

Read our other recent deal announcements here.

explore our other blog posts

introducing: the startup guide to venture debt

Venture debt is fast becoming an alternative or complementary path for startups looking to get capital to accelerate their growth. We’ve created a new resource to help startups get their head around venture debt: The Startup Guide to Venture Debt in Southeast Asia. Our guide covers venture debt for startups…

kindrik partners advises AI chatbot startup impress.ai on US$3m pre-series A round

Our Southeast Asia team have advised Singapore-based startup impress.ai on its recent pre-series A round. The round was led by Summit 29K with Seeds Capital, the investment arm of Enterprise Singapore, also participating. impress.ai was founded in 2017 by Sudhanshu Ahuja, Vaisagh Viswanathan and Amrith Dhananjayan. The startup has developed…

kindrik newsletter