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Rain secures USD 24.5 million in funding from Norwest

Wednesday 26 March 2025 14:56 CET | News

Rain, a global card issuing platform using stablecoins, has secured USD 24.5 million in funding, with Norwest Venture Partners leading the investment.

In this funding round, new investors such as Galaxy Ventures, Goldcrest, Thayer, and Hard Yaka joined existing investors including Lightspeed Venture Partners, Coinbase Ventures, Vinyl Capital, Canonical Crypto, and Latitude Capital. 

Additionally, Rain announced its principal membership with Visa, working with the network to strengthen its issuance capabilities in Europe while also expanding its current issuance in the US and Latin America.

With its vertically integrated issuing stack and Visa principal membership, Rain can sponsor and manage card programmes in numerous countries worldwide, allowing transactions to settle in stablecoins. According to the company, over the past 12 months, Rain has experienced growth exceeding 15 times, processing transactions across more than 100 countries.

 

Rain secures USD 24.5 million in funding from Norwest

 

Rain uses an omni-chain stack for native settlement 

The company has established an infrastructure for stablecoin interoperability across fiat systems, allowing businesses to offer both B2B and consumer cards, available in physical and virtual formats. These cards are directly linked to self-custody wallets, custodial solutions, or traditional fiat accounts, meaning cardholders can make payments in government-issued currency without needing to convert their cryptocurrency. Rain uses an omni-chain stack that facilitates native settlement across multiple blockchain networks, including Base, Polygon, Optimism, Avalanche, Arbitrum, ZKsync, and Solana, to handle stablecoin and floating-rate token settlements daily.

As a Visa Principal Member, Rain enables its partners to issue cards on the Visa network and allows its clients to create and manage programs that do not depend on traditional fiat payment systems. 

Officials from Rain stated that the company has been providing flexible issuing and stablecoin orchestration technology to global businesses for several years. This new funding will increase interoperability with existing systems, expand its reach, and allow for investments in stablecoin authorisation and settlement infrastructure, which will continue to promote growth for its partners.


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Keywords: cryptocurrency, fintech, stablecoin, funding, investing
Categories: DeFi & Crypto & Web3
Companies: Norwest Venture Partners, Rain
Countries: United States
This article is part of category

DeFi & Crypto & Web3

Norwest Venture Partners

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Rain

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