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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 provides a spend management platform designed for decentralized organizations in the Web3 ecosystem, such as DAOs and blockchain projects. The platform allows these organizations to manage their finances by integrating digital assets with traditional fiat currency systems. Rain's technology enables instant and secure transactions, allowing users to make real-world purchases quickly. Unlike traditional fintech products that rely on outdated systems, Rain utilizes blockchain infrastructure to facilitate smoother transactions. The company partners with licensed card issuers to offer various custody solutions, ensuring that Web3 teams can operate efficiently while accessing essential business tools. Rain's goal is to bridge the gap between digital assets and fiat money, enabling Web3 organizations to manage their finances effectively.
Simplify's Take
What believers are saying
- Rain raised $245M to enhance blockchain payment solutions and expand services.
- Rain's partnerships with Visa and others boost its market presence and credibility.
- Expansion into Europe and Latin America increases Rain's global footprint.
What critics are saying
- Increased competition from Nuvei and others threatens Rain's market share.
- Regulatory scrutiny in the US and Europe could impact Rain's operations.
- Partnership reliance exposes Rain to risks from partner performance and compliance.
What makes Rain unique
- Rain bridges digital assets and fiat systems for seamless Web3 transactions.
- Rain offers secure spend management for DAOs and decentralized organizations.
- Rain uses blockchain infrastructure for instant, secure transactions, unlike traditional fintech.
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Funding
Total Funding
$30.5M
Above
Industry Average
Funded Over
2 Rounds
Lightspeed Venture PartnersBenefits
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
↓ -15%1 year growth
↓ -15%2 year growth
↓ -12%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 has previously launched on-chain Visa cards for blockchain networks such as Optimism and Avalanche.
On Monday, Rain announced that it secured $24.5 million in a funding round led by Norwest Venture Partners, with participation from Galaxy Digital, Coinbase Ventures, and Lightspeed.
Rain is Hiring for 5 Jobs on Simplify!
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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
Rain is Hiring for 5 Jobs on Simplify!
Find jobs on Simplify and start your career today
People Also Viewed
Discover companies similar to Rain