Forage lands $40M Series B to scale benefits-focused spend infrastructure

Forage, a San Francisco-based fintech infrastructure company focused on government benefits payments, has secured a $40 million Series B funding round. The round was led by Mouro Capital, with participation from Nyca Partners, PayPal Ventures, Long Journey Ventures, Intuit Ventures, NextLadder Ventures, Pivotal Ventures, and FJ Labs. The funding was announced on June 3, 2026 and brings Forage’s total capital raised to approximately $75 million, according to the company. Forage builds payments infrastructure that enables retailers and platforms to accept and process government benefits such as SNAP, WIC, HSA, FSA, and EBT Cash across online and in-store channels.

The company plans to use the new capital to scale its recently launched consumer mobile app, which helps low-income families securely check their EBT balances and save on groceries, and to further expand its core payments infrastructure for merchants and platforms. Forage’s technology is already used to power SNAP and EBT acceptance for major partners and across tens of thousands of stores in all 50 U.S. states, and the company is targeting support for more than one million families through its consumer offerings. The round underscores growing investor interest in infrastructure that modernizes how public benefits are delivered and spent, positioning Forage at the intersection of payments, social impact, and regulated spend management.