In January 2022 Rain, a cryptocurrency company, raised USD 110 million in its Series B funding. The round was co-led by Paradigm and Kleiner Perkins with participation from numerous parties including Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures, JIMCO and CMT Digital. Founded in 2017 by Abdullah Almoaiqel, AJ Nelson, Joseph Dallago, and Yehia Badawy, Rain will utilise this investment to further expand licensing in other countries and regions, enhancing its technology with an advanced trading platform and continuing to grow the team as cryptocurrency adoption continues to increase globally.
In a joint statement, the co-founding team said: “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.”
They added: “At Rain, we strongly believe in the long-term value of cryptocurrency and its Blockchain technology foundation to change finance globally. We are humbled to work with some of the highest quality global investors, like Paradigm, Kleiner Perkins and Coinbase Ventures, who share a unified goal of a more open and inclusive financial system.”
