6. Rain *
Total funding: $118 million
Regulated crypto-asset exchange
Founders: Abdullah Almoaiqel, Yehia Badawy, Adam Nelson, Joseph Dallago
Nationality: Saudi, Egyptian, American, American
Investors: Paradigm, Kleiner Perkins, Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures, JIMCO, CMT Digital
Date of establishment: 2017
Rain allows traders to buy, sell, and store approved cryptocurrency across the GCC and Türkiye. In December 2021, the company secured $110 million in a Series B funding round co-led by Paradigm and Kleiner Perkins. Rain Management was licensed as a regulated crypto-asset service provider by the Central Bank of Bahrain in 2019. It has received in-principle approval from ADGM’s Financial Services Regulatory Authority for permission to conduct certain regulated financial services activities relating to virtual assets.