Rain, a U.S.-based fintech company specializing in stablecoin-powered global card issuance, has raised $24.5 million in a funding round led by Norwest Venture Partners. The investment will support its expansion into Europe and enhance its stablecoin settlement infrastructure. The company also announced a strategic partnership with Visa to scale its card issuance services in the U.S. and Latin America.
Rain, a U.S.-based fintech company headquartered in California, has raised $24.5 million in a fresh funding round led by Norwest Venture Partners. Rain specializes in stablecoin-powered global card issuance, providing infrastructure for stablecoin interoperability across fiat rails. The company enables businesses to issue physical and digital cards for both B2B and consumer markets, integrating with custodial solutions, self-custody wallets, and fiat accounts.
Funding and Investor Participation
The funding round saw participation from existing investors, including Coinbase Ventures, Vinyl Capital, Canonical Crypto, Latitude Capital, and Lightspeed Venture Partners. Additionally, new investors such as Galaxy Ventures, Goldcrest, Hard Yaka, and Thayer joined the round, demonstrating confidence in Rain’s growth potential.
Founded in 2021, Rain has experienced significant growth, expanding its transaction processing reach to over 100 countries and increasing its operational scale more than 15 times in the past year. The new capital will allow the company to strengthen its stablecoin settlement infrastructure and increase interoperability with existing payment rails.
Strategic Partnership with Visa
In addition to securing funding, Rain has announced a strategic partnership with Visa to enhance its card issuance services. This collaboration will support Rain’s expansion efforts in the U.S. and Latin America while facilitating its entry into the European market. The partnership with Visa is expected to accelerate Rain’s mission of improving stablecoin adoption and accessibility within the global financial ecosystem.
Farooq Malik, CEO and co-founder of Rain, stated that the funding and partnership will help the company scale its operations and expand its footprint, reinforcing its commitment to innovation in the fintech sector.
With the latest investment and strategic collaboration, Rain is positioning itself as a key player in the evolving landscape of digital payments, leveraging stablecoins to bridge the gap between traditional and decentralized finance.
