Forage, a San Francisco, CA-based provider of a software platform for grocers to accept online food stamps payments, raised $22m in Series A funding.
The round was led by NYCA Partners with participation from PayPal Ventures, EO Ventures and angel investors such as Instacart founder Apoorva Mehta, among others.
The company intends to use the funds for product development and to accelerate hiring.
Led by Ofek Lavian, co-founder and CEO, Forage is a payments processor that makes it easier for grocers to accept SNAP EBT (food stamps) payments online, giving merchants access to a $200B market, and enabling the 42M Americans receiving benefits to spend them online. With its in-house team of payments and EBT experts and software platform, Forage guides merchants through the USDA application process and tech integration for merchants, taking most of the burden off retailers. The company works with multiple grocers and platforms such as Shopify and Flashfood to accept SNAP EBT payments online.
FinSMEs
09/08/2022