E-commerce brand aggregator Rainforest raises US$45m 

E-COMMERCE brand aggregator Rainforest has secured US$45 million in a funding round led by Canopy Tropics, a subsidiary of private equity fund, Southern Capital Group.

Current investors Monks Hill Ventures, Insignia Venture Partners and January Capital also participated in the round. This brings the total capital raised by Rainforest to over US$100 million, with expectations for it to reach profitability by the end of 2022.

Launched in 2021, the e-commerce brand aggregator has achieved US$30 million in annualised revenue for its first year of operation. Earlier in March 2022, Rainforest acquired Millenium Enterprises and its baby care brand NatureBond as part of its focus on brands for moms.

The company is planning to continue hiring globally and expand its portfolio of brands.

“This financing round provides us a capital advantage in the region and helps accelerate our path towards building a compelling house of brands for the modern mum. We look forward to making further acquisitions, growing our stable of brands, and bringing new and innovative products to market,“ said Jia Jih Chai, co-founder and chief executive officer, Rainforest.