Generally trustworthy, but minor verification is advised.
RAINFOREST LIFE PTE. LTD.
UEN:202032569D
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RAINFOREST LIFE PTE. LTD. has a TrustScore of 71. Businesses in this range are generally considered reliable. However, it's still advisable to conduct reasonable checks before engaging in transactions.
Our preliminary analysis has revealed key insights about RAINFOREST LIFE PTE. LTD.'s performance and market presence. Here‘s a summary of our findings:
Has been operational for several years
Official business profile found on major search engines
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.
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, an e-commerce brand aggregator, has officially announced its launch with a seed financing round of US$36 million. 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 an undisclosed US-based debt fund. Rainforest will use the funds to acquire promising Amazon FBA (Fulfilment by Amazon) brands, invest in technology, and hire top talent to join their Singapore-headquartered and globally distributed team.
While often referred to as a leading digital bank, Chime is not technically a bank and will no longer be referring to itself as one to appease a California regulator who took issue with FinTech’s loose use of the term. The popular “digital bank” as it is often called, ran afoul of the California Department of Financial Protection and Innovation for using “chimebank” in its website address, as well as using the term “bank” and “banking” elsewhere in its advertisements, according to the agency in a settlement agreement. Chime’s choice to heretofore drop the term “bank” came ahead of a ruling by regulator on the subject.
6 May 2021
Singapore eCommerce brand aggregator Rainforest has raised $36 million in a seed funding round that included $6.5 million in equity financing, The Edge Singapore reported. The funding was led by Nordstar, with participation from Insignia Venture Partners. The round also included a $30 million debt facility from a U.S. debt fund. The startup plans to use the fresh capital to acquire and expand digital-native brands, according to the article. Rainforest was launched in January by executives from Carousell, Airbnb and Fave. JJ Chai, previously the senior vice-president of growth and strategy at Carousell, will serve as Rainforest’s chief executive officer. Chai was also a managing director for Airbnb Southeast Asia and India.
6 May 2021
62011
Development of software and applications (except games and cybersecurity)
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Scam.SG's TrustScore is an AI-driven engine that evaluates a business's trustworthiness by analysing data such as customer feedback, behavioral patterns, and compliance records. This comprehensive assessment results in a numerical score reflecting the entity's reliability.
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