Rain: Innovative Expansion through $75 Million Funding Round Led by Nextalia
Deal News | Apr 09, 2025 | Finance Community IT - 3 Private Equity
Nextalia Ventures has made its first foray into the U.S. market by participating in a $75 million Series B funding round for Rain Technologies Inc. Rain is a rapidly growing fintech company specializing in providing earned wage access and financial wellness tools for employees, serving over 2.5 million workers since its inception. The investment aligns with Nextalia's strategy to support high-growth companies with innovative technologies. Deloitte supported Nextalia with financial and tax due diligence, while Tech Legal Partners provided legal and regulatory due diligence. The funds will help Rain enhance its platform, develop new solutions, and accelerate its expansion strategy. Francesco Canzonieri, CEO of Nextalia, emphasized the alignment of this investment with their focus on fintech and market growth, while Alex Bradford, co-founder of Rain, highlighted the enhanced position to reach more employers and employees in the U.S.
Sectors
- Fintech
- Private Equity
Geography
- United States – Rain Technologies is based in the United States and the investment from Nextalia marks their entry into the U.S. market.
- Italy – Nextalia Ventures is an investment firm based in Italy, making this a cross-border investment deal.
Industry
- Fintech – Rain Technologies operates in the financial technology sector, offering earned wage access and financial wellness solutions.
- Private Equity – Nextalia Ventures is a private equity firm that invests in high-growth companies, exemplified by their recent investment in Rain Technologies.
Financials
- 75,000,000 – Amount of Series B funding round invested by Nextalia Ventures into Rain Technologies.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nextalia Ventures | Investor | Company | A private equity firm investing in high-growth companies, now entering the U.S. market. |
| Rain Technologies Inc. | Target Company | Company | A U.S.-based fintech company offering earned wage access solutions. |
| Deloitte | Financial and Tax Due Diligence Advisor | Company | Provided support for financial and tax due diligence for Nextalia's investment. |
| Tech Legal Partners | Legal Advisor | Company | Provided legal and regulatory due diligence for the investment. |
| Francesco Canzonieri | CEO of Nextalia | Person | Commented on the strategic alignment of the investment with Nextalia's goals. |
| Alex Bradford | Co-founder of Rain | Person | Commented on the strengthened position of the company post-investment. |