Crypto card issuer Rain completes $58 million Series B financing, led by Sapphire Ventures
Source: ChainCatcher
Time: 2025-08-28 19:30:32
According to ChainCatcher, crypto card issuer Rain completed a US$58 million Series B financing, led by SapphireVentures, and Dragonfly, Galaxy Ventures, EndeavorCatalyst, SamsungNext and Lightspeed participated. According to a person familiar with the matter, the annual spending of Rain's credit cards has exceeded $1 billion. Rain launches Visa-enabled bank cards, enabling stablecoins to be easily consumed in all places that accept Visa. The company was founded in 2021 by CEO Farooq Malik and CTO Charles Yoo-Naut. Rain allows new banks and fintech companies such as Nuvei to provide stablecoin payment services. Previous reports that on March 24, Rain announced a $24.5 million financing, led by Norwest Venture Partners, and Galaxy Ventures, Goldcrest, Thayer and HardYaka participated.