Rain
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| Private | |
| ISIN | 🆔 |
| Industry | Financial technology; payments |
| Founded 📆 | 2021 |
| Founders 👔 | Farooq Malik; Charles Naut |
Area served 🗺️ | |
Key people | Farooq Malik (CEO); Charles Naut (co-founder) |
| Products 📟 | Stablecoin-linked payment cards; card-issuing platform |
| Services | Payments and issuing APIs |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Rain is an American financial technology company that provides card-issuing and payments APIs enabling partners to offer stablecoin-linked Visa cards.[1][2] The company has publicly announced $88.5 million in venture financings.[3][4]
History
Rain was founded in 2021 by Farooq Malik and Charles Naut to build card-issuing and settlement infrastructure for digital money.[1][5]
In April 2022, the company raised a $6 million seed round led by Lightspeed Venture Partners to develop corporate cards for decentralized autonomous organizations (DAOs).[6] In March 2025, Rain announced $24.5 million in new funding led by Norwest Venture Partners.[7] In August 2025, Sapphire Ventures led a $58 million Series B round.[1][8]
Products and technology
Rain provides a card-issuing platform and payments APIs that allow partners to issue stablecoin-linked Visa cards and related wallets.[1][7] In May 2025, the company expanded support to the Solana, Tron and Stellar networks, alongside existing support on other chains.[9]
According to The Information, Rain's biggest market is Latin America, where stablecoins are popular for cross-border transactions or savings.[1]
See also
References
- ↑ 1.0 1.1 1.2 1.3 1.4 "Stablecoin Card Startup Rain Raises $58 Million Led By Sapphire Ventures". The Information. Retrieved 2025-09-03.
- ↑ "Visa's Crypto Chief Aims to Leverage $2 Trillion Stablecoin Era". Bloomberg.com. Archived from the original on August 25, 2025. Retrieved 2025-09-05. Unknown parameter
|url-status=ignored (help) - ↑ McGrath, Catherine. "Exclusive: Crypto card issuer Rain raises $24.5 million in round led by Norwest Venture Partners". Fortune Crypto. Retrieved 2025-09-03.
- ↑ "Stablecoin platform Rain raises $58m". Finextra Research. 2025-08-29. Retrieved 2025-09-03.
- ↑ "Farooq Malik and Charles Naut, co-founders of Rain, on stablecoin-backed credit cards". sacra.com. 2024-05-04. Retrieved 2025-09-03.
- ↑ Matsuda, Tom. "Web3 startup Rain raises $6 million to launch corporate cards for DAOs". The Block. Retrieved 2025-09-03.
- ↑ 7.0 7.1 McGrath, Catherine. "Exclusive: Crypto card issuer Rain raises $24.5 million in round led by Norwest Venture Partners". Fortune Crypto. Retrieved 2025-09-03.
- ↑ Di Salvo, Mat (2025-08-28). "Fintech Rain Raises $58 Million to Fuel Stablecoin Push on Visa Network". Decrypt. Retrieved 2025-09-03.
- ↑ Sandor, Krisztian. "SOL, TRX, XLM News: Rain Expands Stablecoin Visa Cards to Solana, Tron and Stellar". CoinDesk. Retrieved 2025-09-03.
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