Rain Labs Raises $15M From Galaxy Ventures, Goldcrest, Thayer, and Hard Yaka to Expand Its Global Reach

In this funding round, new investors such as Galaxy Ventures, Goldcrest, Thayer, and Hard Yaka joined existing investors

Rain, a company focused on Web3 technologies and an omni-chain issuing stack, has secured $110 million in a Series C funding round. The investment round was led by Lightspeed Venture Partners and Coinbase Ventures, with participation from new investors Galaxy Ventures, Goldcrest, Thayer, and Hard Yaka. Existing investors, including Vinyl Capital, Canonical Crypto, and Latitude Capital, also contributed to the funding.

The company’s technology allows businesses to offer both B2B and consumer cards, available in physical and virtual formats, which are directly linked to self-custody wallets, custodial solutions, or traditional fiat accounts. This means that cardholders can make payments in government-issued currency without needing to convert their cryptocurrency.

Rain’s omni-chain stack handles stablecoin and floating-rate token settlements daily across multiple blockchain networks, including Base, Polygon, Optimism, Avalanche, Arbitrum, ZKsync, and Solana. The company also announced its principal membership with Visa, which will strengthen its issuance capabilities in Europe and expand 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 programs in numerous countries around the world, with transactions settling in stablecoins. Over the past 12 months, Rain has experienced growth of over 15 times as it processes transactions across more than 100 countries.

“We’re incredibly proud to continue partnering with Rain as they build the future of finance with their innovative technology and deep industry expertise.,” said Mahir Saeidi, partner at Lightspeed Venture Partners. “Their ability to seamlessly integrate stablecoins and other cryptocurrencies into existing payment systems is a game-changer, and we’re excited to see what they achieve next.”