Rain’s Big Win: $24.5M to Power the Future of Money

On March 24, 2025, Rain, a global card-issuing platform, dropped some exciting news on X: they’ve secured $24.5 million in Series A funding! Led by Norwest Venture Partners, this round also brought in heavy hitters like Galaxy, CompoSecure, and Lightspeed Venture Partners, among others. Rain is on a mission to make stablecoin payments seamless, and this funding is a massive step toward that goal.

Rain’s platform lets businesses and consumers use stablecoins—cryptocurrencies pegged to stable assets like the U.S. dollar—for everyday transactions. Think of it as a bridge between the crypto world and traditional finance. With their Visa Principal Membership, Rain is rolling out cards (both physical and virtual) that let you spend stablecoins anywhere Visa is accepted. No need to convert your crypto to cash—Rain handles it all on the backend using blockchain tech.

Why Stablecoins Matter

Stablecoins are a game-changer for payments, especially for things like cross-border transfers and remittances. Unlike volatile cryptocurrencies like Bitcoin, stablecoins hold steady value, making them perfect for real-world use. Rain’s platform supports this by settling transactions on multiple blockchains, including Avalanche, Solana, and Polygon, ensuring fast and efficient payments. Their recent partnership with Avalanche in February 2025 to launch the Avalanche Card is a great example—they’re already enabling users to pay for groceries or bills with crypto in over 100 countries.

Rain shared in a follow-up post that they’ve seen 15x revenue growth in just 12 months. That’s huge! They’re clearly tapping into a growing demand for frictionless crypto spending, especially in regions where traditional banking is tricky, like parts of Latin America. Stablecoins can help people access dollar-based savings or send money across borders without the high fees and delays of traditional systems.

Who’s Backing Rain?

The $24.5M round wasn’t just about the money—it’s a signal of confidence in Rain’s vision. Norwest Venture Partners led the charge, with new investors like Galaxy, CompoSecure, Goldcrest, Vinyl, BDMI Fund, Latitude Capital, Thayer, and Hard Yaka jumping in. Existing backers, including Lightspeed, Coinbase Ventures, and Canonical Crypto, also doubled down. That’s a lot of big names betting on Rain to reshape how we use money.

What’s Next for Rain?

With this fresh capital, Rain is ready to scale. They’re hiring for key roles—check out their careers page if you’re interested—and plan to expand their global reach. Their tech already supports stablecoin settlements on multiple blockchains, and they’re looking to add more features and assets to their cards. For example, the Avalanche Card currently supports USDC, USDT, AVAX, and Wrapped AVAX, with more tokens on the horizon.

Rain’s timing couldn’t be better. As stablecoin adoption grows, so does the need for easy ways to spend them. Whether it’s remittances, online shopping, or just paying for a coffee, Rain is building the infrastructure to make crypto a part of everyday life. The future of money is looking pretty exciting—and Rain is leading the charge.