Rain, a crypto card startup working with Visa, has raised $24.5 million in a funding round led by Norwest Venture Partners, with participation from Galaxy Ventures, Goldcrest, Thayer, and Hard Yaka.
What Rain does:
— Issues debit and credit cards that let users pay with stablecoins and crypto.
— Recently launched a Visa card with Avalanche, supporting AVAX and stablecoins.
— Aims to make digital dollar services more accessible worldwide.
The funds will be used to:
- Grow the team
- Build new tech
- Obtain regulatory licenses
- Expand Visa-based partnerships
CEO Farooq Malik:
Many people receive payments in dollars across borders. Stablecoins and our infrastructure enable us to offer global digital dollar services.