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About Rain
Industries
Fintech
Crypto & Web3
Company Size
11-50
Company Stage
Early VC
Total Funding
$30.5M
Headquarters
New York City, New York
Founded
2021
Overview
Rain offers a spend management platform for decentralized organizations in the Web3 ecosystem, allowing them to manage finances by integrating digital assets with traditional fiat systems. The platform enables instant and secure transactions, making it faster for users to make real-world purchases compared to traditional financial methods. Rain differentiates itself by focusing on the specific needs of Web3 projects and providing support for self-custody and institutional custody options. The company's goal is to bridge the gap between digital assets and fiat money, ensuring efficient financial operations for Web3 teams.
Simplify's Take
What believers are saying
- Rain raised $245M to enhance blockchain payment solutions and expand services.
- Partnerships with Visa boost Rain's credibility and user base.
- AI integration enhances fraud detection and transaction security on Rain's platform.
What critics are saying
- Regulatory scrutiny on stablecoins could impact Rain's operations and compliance costs.
- Increased competition from emerging Web3 platforms may erode Rain's market share.
- Rapid technological advancements could render Rain's current technology obsolete.
What makes Rain unique
- Rain bridges digital assets and fiat systems for seamless Web3 financial management.
- Rain offers instant transactions faster than traditional 2FA methods.
- Rain's platform supports self-custody and institutional custody solutions for Web3 teams.
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Funding
Total Funding
$30.5M
Below
Industry Average
Funded Over
4 Rounds
Lightspeed Venture Partners
Kleiner PerkinsBenefits
Unlimited Paid Time Off
Flexible Work Hours
Health Insurance
Life Insurance
Equity Plan
Wellness Program
Team Summits
Growth & Insights and Company News
6 month growth
↓ -8%1 year growth
↓ -13%2 year growth
↓ -15%Positioned for Scale: With Rain handling the core infrastructure, Dakota can focus on acquiring new business customers and scaling up quickly without the burden of managing complex compliance or payment systems.
Rain has raised $75 million in Series B funding led by Prosus, with participation from Nextalia Ventures, Spark Growth Ventures, and others. This funding will help Rain expand its earned wage access services to more American workers. Since its founding in 2019, Rain has enabled over 2.5 million workers to access their earnings instantly and distributed over $2 billion in wages. The company plans to introduce new financial wellness solutions and employer tools.
Two standout companies, Tabit Insurance and Rain, collectively raised over $64 million.
Rain, a stablecoin-based card issuer, has raised $245 million to enhance its payment solutions and boost blockchain adoption in financial transactions. This funding will help Rain expand its services and bridge the gap between digital currencies and traditional financial systems, positioning the company as a leader in the evolving payment landscape.
With this capability, Rain is expanding its presence in Europe while scaling its card issuance operations across the United States and Latin America.
Rain is Hiring for 11 Jobs on Simplify!
Find jobs on Simplify and start your career today
About Rain
Industries
Fintech
Crypto & Web3
Company Size
11-50
Company Stage
Early VC
Total Funding
$30.5M
Headquarters
New York City, New York
Founded
2021
Rain is Hiring for 11 Jobs on Simplify!
Find jobs on Simplify and start your career today