Rainbow is a mobile-first Ethereum wallet founded in 2019 by Christian Baroni, Jin Chung, and Michael Demarais. The company initially began with a product called Balance, which aimed to make crypto finance more accessible, but later pivoted to focus entirely on Rainbow. This pivot was driven by the team’s vision to create a more engaging, intuitive, and visually appealing way to interact with the Ethereum ecosystem.

Rainbow allows users to manage Ethereum-based assets with ease, offering functionality such as token swapping, transaction history, wallet import, NFT visualization, and integration with dApps. Designed with an emphasis on UX and aesthetic quality, the app has become a favorite among crypto-native users and newcomers alike.

The company raised $21 million across four funding rounds, with a notable $18 million Series A led by Seven Seven Six (Alexis Ohanian’s firm) in February 2022. Other investors include Y Combinator, Digital Currency Group, FinTech Collective, and angel investors like Nikita Bier. Rainbow is headquartered in Williamsburg, Brooklyn, and maintains a small, high-output team of 11–50 employees.

As of 2024, Rainbow has expanded beyond mobile to include a browser extension, enabling seamless on-chain interactions across Ethereum and other EVM-compatible chains. Its open-source library, RainbowKit, built on wagmi and viem, is also widely adopted across the Web3 developer ecosystem.