About Forage
Forage is a company based in San Francisco (United States) founded in 2019 by Victor Esteban Fimbres. It operates as a API-as-a-Product, and Commission-Based. Forage has raised $22.13 million across 3 funding rounds from investors including FIS, Nyca Partners and EO Ventures. Forage offers products and services including Online EBT Payments, In-Store EBT Payments, and Forage App. Forage operates in a competitive market with competitors including Stripe, PayPal, Flutterwave, Square and Wright Express, among others.
- Headquarter San Francisco, United States
- Founders Victor Esteban Fimbres
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Sectors
Financial Services
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Email
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Phone
*********
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Website
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Social
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- Legal Name Forage Technology Corporation, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$22.13 M (USD)
in 3 rounds
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Latest Funding Round
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Investors
FIS
& 5 more
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Employee Count
Employee Count
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Products & Services of Forage
Forage offers a comprehensive portfolio of products and services, including Online EBT Payments, In-Store EBT Payments, and Forage App. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
EBT payments are enabled for online merchant transactions.
EBT payments are facilitated for in-store merchant transactions.
Shoppers are supported with grocery savings through app.
Unlock access to complete
Funding Insights of Forage
Forage has successfully raised a total of $22.13M across 3 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Last Round
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First Round
First Round
(01 Sep 2021)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2023 | Amount | Series A - Forage | Valuation | FIS |
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| Aug, 2022 | Amount | Series A - Forage | Valuation | Nyca Partners | |
| Sep, 2021 | Amount | Seed - Forage | Valuation | Y Combinator |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Forage
Forage has secured backing from 6 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include FIS, Nyca Partners and EO Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Tech focused early stage VC firm investing in the US
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Founded Year | Domain | Location | |
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Early-stage businesses are supported by EO Ventures in America.
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Founded Year | Domain | Location | |
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Venture capital fund investing in early-stage tech startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Forage
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Forage
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Forage Comparisons
Competitors of Forage
Forage operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Stripe, PayPal, Flutterwave, Square and Wright Express, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Payment processing and card issuance solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Online payment solutions are offered to consumers and businesses.
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| domain | founded_year | HQ Location |
Provider of payment processing solutions for businesses
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| domain | founded_year | HQ Location |
POS solutions are provided for retail businesses.
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| domain | founded_year | HQ Location |
Employee benefit administration and payment solutions are provided for enterprises.
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| domain | founded_year | HQ Location |
Online payment processing and credit solutions are provided for businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Forage
Frequently Asked Questions about Forage
When was Forage founded?
Forage was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Where is Forage located?
Forage is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Is Forage a funded company?
Forage is a funded company, having raised a total of $22.13M across 3 funding rounds to date. The company's 1st funding round was a Seed of $125K, raised on Sep 01, 2021.
What does Forage do?
Forage is engaged in providing payment solutions for merchants by enabling SNAP EBT transactions both online and in-store. The company supports grocery savings for shoppers through its app and offers USDA-approved payment processing services. With a focus on the financial technology sector, Forage integrates APIs and SDKs to unlock new revenue streams for businesses. Their solutions are designed to cater to a wide audience, including over 42 million Americans on government benefit programs like SNAP. Reliability and security are prioritized with a 99.9 uptime and PCI-compliant fraud protection.
Who are the top competitors of Forage?
Forage's top competitors include Stripe, PayU and Flutterwave.
What products or services does Forage offer?
Forage offers Online EBT Payments, In-Store EBT Payments, and Forage App.
Who are Forage's investors?
Forage has 6 investors. Key investors include FIS, Nyca Partners, EO Ventures, Apoorva Mehta, and PayPal Ventures.