The digital change, Rain grew to become probably the most useful crypto startups within the Middle East area as we speak after the corporate raised $110 million in its Series B funding spherical. The firm’s Bahraini entity, Rain Management, is a licensed crypto service supplier within the Middle East.
Founded in 2017, Rain acquired a license from the Central Bank of Bahrain in 2019 to function as a digital asset service supplier. With the rising adoption of crypto property within the area, Rain has witnessed a pointy surge within the variety of purchasers over the previous few months.
Investment corporations Paradigm and Kleiner Perkins co-led the $110 million Series B funding spherical. Additionally, a few of the world’s main buyers, together with Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures and CMT Digital participated within the spherical.
Rain was based by Abdullah Almoaiqel, AJ Nelson, Joseph Dallago and Yehia Badawy. In January 2021, the crypto change raised $6 million within the Series A funding spherical to develop its operations.
Related content material
In a joint assertion, the co-founding crew mentioned: “We are very excited about this funding opportunity as it allows us to continue conversations with regulators across the MENA region, Turkey and Pakistan about the benefits and potential of cryptocurrency. It will also support our overarching mission of providing education and access to cryptocurrency to all of our supported markets. At Rain, we strongly believe in the long-term value of cryptocurrency and its Blockchain technology foundation to change finance globally.”
Regional Expansion
Through the Series B funding, Rain is planning to develop its presence throughout totally different areas, particularly rising economies. With over 185,000 lively customers, the crypto change goals to turn into one of many main digital asset corporations within the MENA area.
“We’re excited to partner with Rain as they grow and expand to serve people in more locations around the world, including Pakistan,” Mamoon Hamid, a accomplice at Kleiner Perkins, mentioned.
The digital change, Rain grew to become probably the most useful crypto startups within the Middle East area as we speak after the corporate raised $110 million in its Series B funding spherical. The firm’s Bahraini entity, Rain Management, is a licensed crypto service supplier within the Middle East.
Founded in 2017, Rain acquired a license from the Central Bank of Bahrain in 2019 to function as a digital asset service supplier. With the rising adoption of crypto property within the area, Rain has witnessed a pointy surge within the variety of purchasers over the previous few months.
Investment corporations Paradigm and Kleiner Perkins co-led the $110 million Series B funding spherical. Additionally, a few of the world’s main buyers, together with Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures and CMT Digital participated within the spherical.
Rain was based by Abdullah Almoaiqel, AJ Nelson, Joseph Dallago and Yehia Badawy. In January 2021, the crypto change raised $6 million within the Series A funding spherical to develop its operations.
Related content material
In a joint assertion, the co-founding crew mentioned: “We are very excited about this funding opportunity as it allows us to continue conversations with regulators across the MENA region, Turkey and Pakistan about the benefits and potential of cryptocurrency. It will also support our overarching mission of providing education and access to cryptocurrency to all of our supported markets. At Rain, we strongly believe in the long-term value of cryptocurrency and its Blockchain technology foundation to change finance globally.”
Regional Expansion
Through the Series B funding, Rain is planning to develop its presence throughout totally different areas, particularly rising economies. With over 185,000 lively customers, the crypto change goals to turn into one of many main digital asset corporations within the MENA area.
“We’re excited to partner with Rain as they grow and expand to serve people in more locations around the world, including Pakistan,” Mamoon Hamid, a accomplice at Kleiner Perkins, mentioned.
