“Can a purpose-built, vertical-SaaS-native payfac-as-a-service out-monetize the Stripe Connect / Adyen for Platforms incumbents by owning its own core processing stack?”
Founded 2022 in Atlanta by Joshua Silver as Emfi Tech, rebranded to Rainforest. Positioned as a payfac-as-a-service built from the ground up for vertical SaaS platforms — deliberately not a wrapper around another processor. Owns its core processing technology and sponsors merchants via bank partners, differentiating on service and platform-friendly contract terms versus incumbents like Stripe Connect and Adyen for Platforms.
Rainforest Pay processes payments through Rainforest Pay (self-operated), PayPal, Venmo, Rainforest Pay and checkout. Disclosed money-movement rails: ACH.
Rainforest Pay's lending and capital products are provided by PayPal Pay Later.
Rainforest Pay connects to bank accounts through Plaid.
The Embedded Finance Index 2026 maps 4 layers in Rainforest Pay's stack: Payments / PSP (Rainforest Pay (self-operated), PayPal, Venmo, Rainforest Pay and 1 other); Money movement (ACH); Lending (PayPal Pay Later); Open banking (Plaid).
Rainforest Pay was founded by Joshua Silver and is founded in 2022, headquartered in Brookhaven, GA, United States.
Rainforest Pay has raised ~$60M+ in total (latest round: Series B, 2025).
Get a read on where your own stack stands against Rainforest Pay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.