Eileen Yu
for By The Way
| June 16, 2021 — 01:08 GMT (02:08 BST)
| Topic: E-Commerce
Having recently secured $36 million in seed funding, Rainforest is looking to acquire more Amazon third-party sellers as well as fast-growing brands that sell on Asian e-commerce platforms. And it is hoping to differentiate itself by offering tools to help these sellers centrally manage their transactions across the different marketplaces.
Since kicking off its operations in January 2021, the Singapore-based e-commerce aggregator had acquired three brands that sold through Fulfilment by Amazon (FBA). These included a Singapore-owned brand that sold bedding products on the US e-commerce marketplace.
Founded in 2020, Rainforest last month raised $6.5 million in equity financing and $30 million debt facility from a US debt fund. It said it would use the funds to acquire more Amazon FBA brands, bring in new hires, and develop its technology stack.
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Eileen Yu
for By The Way
| June 16, 2021 — 01:08 GMT (02:08 BST)
| Topic: E-Commerce