Crypto Startup Rain Secures 24.5M Funding

Rain Raises $24.5 Million to Expand Stablecoin Spending Solutions

• Rain, a crypto Visa debit and credit card issuer, raised $24.5 million in a funding round led by Norwest Venture Partners.
• The company aims to facilitate frictionless spending of stablecoins for everyday transactions.
• Rain experienced 15x revenue growth over the past year and processes payments in over 100 countries.
• Other investors include Galaxy Digital, CompoSecure, BDMI Fund, Coinbase Ventures, Lightspeed, Goldcrest, Thayer, and Hard Yaka.
• In 2022, Rain secured $6 million in seed funding.

Rain has successfully raised $24.5 million to enhance its stablecoin-enabled card issuance capabilities globally. This funding follows significant revenue growth and expanded payment processing across more than 100 countries.