{"id":542839,"date":"2022-01-19T02:44:06","date_gmt":"2022-01-19T02:44:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/19\/bahrain-based-crypto-exchange-rain-raises-usd-110-mn-series-b\/"},"modified":"2022-01-19T02:44:06","modified_gmt":"2022-01-19T02:44:06","slug":"bahrain-based-crypto-exchange-rain-raises-usd-110-mn-series-b","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/19\/bahrain-based-crypto-exchange-rain-raises-usd-110-mn-series-b\/","title":{"rendered":"Bahrain-based crypto exchange Rain raises USD 110 mn series B"},"content":{"rendered":"

Crypto platform Rain raises USD 110 mn series B: <\/strong>Bahrain\u2019s Rain Financial, the parent company of crypto trading platform Rain Management<\/a>, has raised USD 110 mn in a series B funding round led by Paradigm<\/a> and Kleiner Perkins<\/a>, according to a company release<\/a>. The round saw participation from Coinbase Ventures, Global Founders Capital, Middle East Venture Partners (MEVP), Cadenza Ventures and CMT Digital, among others.<\/p>\n

Rain will use the investment for expansion \u201cacross other countries and regions,\u201d <\/strong>the statement said, without giving any more details. The investments will also be earmarked for improving Rain\u2019s technology and growing its team. Rain has subsidiaries in Bahrain, Turkey and the UAE, according to the statement, while the company counts Bahrain, the UAE, Kuwait, Oman, and Saudi Arabia among its supported markets.<\/p>\n

That means persuading regulators on crypto:<\/strong> The funding will allow the company to \u201ccontinue conversations with regulators across the MENA region, Turkey, and Pakistan about the benefits and potential of cryptocurrency,\u201d the statement read. Many countries in the region \u2014 including Turkey<\/a> and Pakistan<\/a> \u2014 are considering if and how to regulate the crypto industry.<\/p>\n

About Rain:<\/strong> Based in Bahrain, Rain became the first fully licensed digital currency exchange in the region when it received its sandbox license from the Central Bank of Bahrain in 2017. The company, which counts Egypt\u2019s Yehia Badawy among its four co-founders, last year raised USD 6 mn<\/a> in a series A round led by MEVP with participation from Coinbase, Vision Ventures, CMT Digital Ventures, JIMCO, and DIFC Fintech Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto platform Rain raises USD 110 mn series B: Bahrain\u2019s Rain Financial, the parent company of crypto trading platform Rain Management, has raised USD 110 mn in a series B funding round led by Paradigm and Kleiner Perkins, according to a company release. The round saw participation from Coinbase Ventures, Global Founders Capital, Middle East […]<\/p>\n","protected":false},"author":1,"featured_media":542840,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[473,344,72,474,476,475,95,123,218],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-bahrain","tag-cryptocurrency","tag-enterpriseam","tag-pakistan","tag-paradigm-logistics","tag-rain-financial","tag-startup-watch","tag-startups","tag-turkey","wpautop","entry"],"acf":{"mongo_id":"ca79558b-a0f9-428f-b8de-0ef17dbb9552","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/1\/231.jpg","photo_position":"above","related_issue":[542826],"teaser":"","voice_url":""},"yoast_head":"\nBahrain-based crypto exchange Rain raises USD 110 mn series B - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/19\/bahrain-based-crypto-exchange-rain-raises-usd-110-mn-series-b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bahrain-based crypto exchange Rain raises USD 110 mn series B\" \/>\n<meta property=\"og:description\" content=\"Crypto platform Rain raises USD 110 mn series B: Bahrain\u2019s Rain Financial, the parent company of crypto trading platform Rain Management, has raised USD 110 mn in a series B funding round led by Paradigm and Kleiner Perkins, according to a company release. 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Plus: STV is fundraising and Raya\u2019s accelerator inks pact with GIZ","author":"enterpriseam admin","date":"5 March 2023","format":false,"excerpt":"MoneyHash\u2019s API will allow Rain to add payment service providers and payment methods across the Middle East and Africa.","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/bitcoin-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543235,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later\/","url_meta":{"origin":542839,"position":2},"title":"THIS EVENING: Region\u2019s first digital currency exchange raises USD 110 mn Series B + Global interest rate hikes may come sooner rather than later","author":"enterpriseam admin","date":"18 January 2022","format":false,"excerpt":"Happy hump day, wonderful people. We\u2019re more than halfway through this (freezing) workweek, so pat yourself on the back, if you can still feel your hands.THE BIG STORY TODAY- Crypto asset platform Rain raises USD 110 mn series B: Bahrain\u2019s Rain Financial, whose subsidiary Rain Management is the region\u2019s first\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568796,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egyptian-food-tech-startup-elmenus-raises-usd-8-mn-in-series-b-round\/","url_meta":{"origin":542839,"position":3},"title":"Egyptian food-tech startup Elmenus raises USD 8 mn in series B round","author":"enterpriseam admin","date":"4 February 2020","format":false,"excerpt":"STARTUP WATCH- Elmenus raises USD 8 mn in Algebra, Global Ventures-led series B funding round: Cairo-based food-tech startup Elmenus has raised USD 8 mn in a series B funding round led by our friends at Algebra Ventures and UAE-based venture capital fund Global Ventures, according to an emailed statement (pdf).\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542812,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/e-commerce-platform-expandcart-raises-usd-2-7-mn-in-a-pre-series-b-bridge-round\/","url_meta":{"origin":542839,"position":4},"title":"E-commerce platform ExpandCart raises USD 2.7 mn in a pre-series B bridge round","author":"enterpriseam admin","date":"18 January 2022","format":false,"excerpt":"Egyptian e-commerce platform ExpandCart raised USD 2.7 mn in a pre-series B bridge funding round led by East Asian accelerator Betatron, with follow-on investments from Sawari Ventures and Kuwait\u2019s Agility Ventures, according to an emailed statement (pdf). The new funding round will be used to fuel growth in ExpandCart\u2019s current\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542955,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/abu-dhabi-issues-spac-regs-as-it-eyes-gulfs-first-blank-check-listing\/","url_meta":{"origin":542839,"position":5},"title":"Abu Dhabi issues SPAC regs as it eyes Gulf\u2019s first blank-check listing","author":"enterpriseam admin","date":"25 January 2022","format":false,"excerpt":"The ADX is one step closer to welcoming the GCC\u2019s first SPAC: The UAE\u2019s securities regulator has approved the Gulf\u2019s first regulatory framework for special purpose acquisition companies (SPACs), the Abu Dhabi Media Office said yesterday. The Abu Dhabi Securities Exchange (ADX) could see its first SPAC listing this year,\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542839"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542839\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542826"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/542840"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542839"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542839"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}