Forage Raises $40M in Series B

Why It Matters

The funding accelerates Forage’s mission to bring affordable, secure financial tools to underserved households, potentially reshaping the low‑income payments market. It also signals broader venture capital confidence in inclusive fintech solutions.

Key Takeaways

• Series B raises $40M led by Mouro Capital.
• Investors include PayPal Ventures, Intuit Ventures, Nyca Partners.
• New consumer app lets low‑income families check EBT balances.
• Funding will scale app and expand payments infrastructure.

Pulse Analysis

Forage’s $40 million Series B reflects a broader shift toward fintech platforms that prioritize financial inclusion. Led by Mouro Capital and backed by a roster that includes PayPal Ventures and Intuit Ventures, the round provides both capital and strategic credibility. Investors are betting that technology can lower barriers for households that traditionally lack access to mainstream banking services, positioning Forage as a potential leader in the emerging inclusive payments space.

The newly launched consumer app tackles a concrete pain point: the difficulty low‑income families face when monitoring Supplemental Nutrition Assistance Program (EBT) balances. By offering a secure, free tool that not only displays balances but also rewards everyday purchases, Forage creates a habit‑forming experience that can increase financial literacy and spending efficiency. Early user adoption metrics suggest strong demand, as families seek real‑time visibility and incentives that stretch limited budgets.

Beyond the app, the infusion of capital will enable Forage to broaden its underlying payments infrastructure, integrating with merchants, banks, and government agencies. This expansion could streamline transaction processing for EBT and other assistance programs, reducing friction for both consumers and providers. As the fintech ecosystem continues to attract capital for socially responsible solutions, Forage’s growth trajectory may set a benchmark for how mission‑driven platforms scale profitably while delivering measurable social impact.