# Rain Management, W.L.L.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rain-management-w-l-l

- Industry: Financial Services
- Headquarters: Manama, Bahrain
- Website: www.rain.bh
- Total disclosed funding: $119M
- Latest round: Series B (Jan 18, 2022)
- Investors on record: 17

## About

Founded in 2017 and based in Manama, Bahrain, Rain Management, W.L.L. operates as a cryptocurrency platform that is licensed by the Central Bank of Bahrain (CBB) in 2019 as a crypto-asset brokerage. The firm has received a total funding of USD 11.9 million as of 2021.

Rain Management, W.L.L. enables users to buy and sell cryptocurrency and deposit or withdraw local currency through bank transfer from or to the user's Rain account. The platform also allows users to use Visa and MasterCard to buy digital currency.

The company generates revenue by charging trading fees to its user for buy and sell transactions. The firm charges a fee of 1.5% of the transaction value for buying and selling bitcoin via bank transfers, and a fee of 4% for buying through a card.

Rain Management, W.L.L. plans to use its Series A funding in January 2021 to expand its engineering team, focus on geographic expansion and work with different regulators in the region.

## Funding rounds

- Series B, Jan 18, 2022, $110M — Kleiner Perkins, Global Founders Capital, Middle East Venture Partners, Coinbase Ventures, CMT Digital, Paradigm, Cadenza Capital Management, Jameel Investment Management Company
- Series A, Jan 17, 2021, $6M — Abdul Latif Jameel, Coinbase Global, Inc., Middle East Venture Partners, Vision Ventures, CMT Digital, DIFC Fintech Fund, JIMCO GTF
- Seed, Jul 31, 2019, $2.5M — 500 Global, Vision Ventures, BlockWater Capital, Bitmex Ventures, Taibah Valley

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- Vision Ventures — Seed, Series A
- BlockWater Capital — Seed
- Bitmex Ventures (https://capitalatlas.ai/funds/bitmex-ventures) — Seed
- Taibah Valley — Seed
- Abdul Latif Jameel — Series A
- Coinbase Global, Inc. — Series A
- Middle East Venture Partners (https://capitalatlas.ai/funds/middle-east-venture-partners) — Series A, Series B
- CMT Digital (https://capitalatlas.ai/funds/cmt-digital) — Series A, Series B
- DIFC Fintech Fund (https://capitalatlas.ai/funds/difc-fintech-fund) — Series A
- JIMCO GTF — Series A
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series B
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Series B
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Series B
- Paradigm (https://capitalatlas.ai/funds/paradigm) — Series B
- Cadenza Capital Management (https://capitalatlas.ai/funds/cadenza-capital-management) — Series B
- Jameel Investment Management Company (https://capitalatlas.ai/funds/jameel-investment-management-company) — Series B