Rain Raises $250 Million in Series C Funding Round

TLDR

• Rain raised $250 million, valuing at $1.95 billion.
• Supports over 200 organizations with $3 billion in transactions.
• Active card base increased 30x since founding in 2021.

Rain, a leading stablecoin payments infrastructure company, has achieved a significant milestone with its recent Series C funding round. The company raised $250 million led by ICONIQ Growth, placing its valuation at $1.95 billion.

This development highlights the growing importance of stablecoin payments, with Rain aiming to expand its infrastructure to more global markets. The company plans to leverage this investment to deepen its platform capabilities and explore strategic acquisitions.

Key Investors and Business Operations

The funding round, led by ICONIQ Growth, also saw participation from notable investors such as Sapphire Ventures, Dragonfly, and Bessemer Venture Partners. These investors believe in the potential of Rain’s enterprise-grade stablecoin payment infrastructure.

Rain provides a global platform for enterprises, neobanks, and developers to enable instant and compliant stablecoin transactions. The company issues stablecoin-backed cards accepted worldwide, powered by its status as a Visa Principal Member.

Expansive Growth and Market Reach

Since its founding in 2021, Rain has experienced rapid growth. The company now supports more than 200 organizations and handles over $3 billion in annualized transactions. Its active card base and payment volume have significantly increased, according to CEO Farooq Malik.

Malik stated, “Our active card base has increased 30x and our annualized payment volume has increased 38x. The funding allows us to bring our infrastructure to new markets efficiently.” The investment is set to help Rain expand across several continents.

Strategic Vision for Future Developments

Rain plans to use the proceeds from the Series C round to enhance its platform’s capabilities and invest in new products. These developments aim to make stablecoin-powered payments feel seamless to businesses and consumers alike.

The company also intends to maintain its global compliant footprint, with an emphasis on licensed markets across North America, South America, Europe, Asia, and Africa, ensuring the widespread adoption of stablecoin payments.

"Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work."

Farooq Malik, CEO & Co‑founder of Rain

For more detailed information, you can find the complete report on Rain’s official announcement.