24-3-2025 – Rain, a prominent Visa card issuer, has secured fresh capital through a funding round spearheaded by Norwest Venture Partners, marking a notable advancement in the burgeoning web3 financial landscape.
The firm’s remarkable trajectory includes a fifteenfold increase in revenue over the past year, with its payment services now reaching more than 100 nations. Rain’s strategic focus centres on revolutionising stablecoin transactions, aiming to seamlessly integrate these digital assets into everyday consumer spending.
This funding milestone arrives at a particularly intriguing juncture, as stablecoin transaction volumes have surpassed the combined processing figures of payment giants Visa and Mastercard over the previous year. Rain’s initiative forms part of a broader industry movement to bridge the gap between digital assets and conventional payment systems.
The company’s position as a Visa Principal Member, coupled with its proprietary blockchain infrastructure, underpins its ambitious plans to expand stablecoin-enabled card issuance globally. This technological marriage promises to deliver enhanced payment efficiency and speed.
The investment landscape in crypto payment solutions has shown remarkable vitality, with notable parallel developments including RedotPay’s £40 million capital raise and Mesh’s substantial £82 million funding success. Both firms are pioneering web3 payment innovations, with Mesh specifically targeting the streamlining of crypto-merchant interactions.
Rain’s investor consortium brings together an impressive array of financial technology heavyweights, including Galaxy Digital, CompoSecure, BDMI Fund, Coinbase Ventures, Lightspeed, Goldcrest, Thayer, and Hard Yaka. This follows their earlier £6 million seed funding secured in 2022.
The company’s strategic vision aligns with the growing adoption of stablecoins across various financial use cases, from international transfers to dollar-denominated savings vehicles, reflecting the increasing demand for practical cryptocurrency applications in daily transactions.
