The Bahrain-based cryptocurrency exchange Rain Financial raised $6 million in a Series A funding round led by MEVP Capital.
Rain Financial Inc today announced its $6M Series A round of funding. The round was led by @MEVPcapital, the largest VC firm in the ME, with participation from existing and new investors: @Coinbase, @VisionVCco, @CMTDigitalLtd, Abdul Latif Jameel Fintech Ventures, and @DIFC.
— Rain · رين (@rainfinancial) January 17, 2021
The Middle East trading platform was also backed by Coinbase, Vision Ventures, CMT Digital, Abdul Latif Jameel Fintech Ventures, and DIFC.
The cryptocurrency exchange was founded in 2017. After two years in a regulatory sandbox, Rain secured a license from the Central Bank of Bahrain, becoming the first regulated crypto-asset trading platform in the region.
In 2019 the crypto exchange closed a seed funding round worth $2.5 million, led by BitMEX Ventures and Kuwait-based Blockwater.
On January 15, Coinbase funded the infrastructure developer for mining Titan.
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