Rain, a leading provider of stablecoin-powered payment infrastructure, has successfully raised $250 million in a Series C funding round. The investment, led by ICONIQ, boosts the company’s total funding to over $338 million and values Rain at approximately $1.95 billion. This significant increase in valuation represents a remarkable growth of more than 17 times in just ten months.
The new funding will enable Rain to expand its compliant global presence, enhance its platform capabilities, and invest in innovative products designed to transform the way payments operate worldwide.
Strategic Growth and Infrastructure Development
According to the company, stablecoins have transitioned from a niche segment of the cryptocurrency market to a major player in global value transfers. Rain aims to facilitate the shift towards tokenized money as the primary method for businesses to conduct transactions and for consumers to manage payments.
“Our technology allows enterprises to seamlessly adopt on-chain payment systems while maintaining the familiar experiences that users trust,” stated Farooq Malik, CEO and Co-founder of Rain. He noted that the company’s active card user base has increased thirty-fold in the past year, while annual payment volume has grown by thirty-eight times. “This funding enables us to expand our infrastructure into new markets and assist more enterprises in scaling rapidly.”
Rain’s comprehensive payments platform allows businesses to collaborate with a single partner to launch compliant stablecoin cards accepted at all locations where Visa operates. It offers features such as rewards, fiat-to-stablecoin conversion, secure wallets, and simplified payouts. Currently, Rain supports over $3 billion in annualized transaction volume across more than 200 partners, including major players like Western Union and Nuvei.
Vision for the Future of Payments
The investment also highlights a broader shift from traditional payment networks to programmable digital asset infrastructures. Kamran Zaki, a Partner at ICONIQ, emphasized the unique position Rain occupies in this evolving market. “They possess a rare combination of comprehensive technology, regulatory readiness, and substantial market reach,” he remarked. Zaki sees Rain’s mission to make stablecoins mainstream aligning with the needs of large enterprises transitioning from exploration to implementation.
With the Series C funding, Rain plans to deepen its payment platform, expand into key licensed markets across regions including North America, South America, Europe, Asia, and Africa, and invest in strategic acquisitions. The company aims to create an ecosystem where stablecoin-powered payments are as seamless as traditional ones, ensuring that businesses and consumers enjoy a frictionless experience.
Rain operates as a global stablecoin payments platform for enterprises, neobanks, and developers, enabling partners to move, store, and utilize stablecoins in compliance with regulatory standards. As a principal member of Visa, Rain’s cards facilitate millions of transactions in over 150 countries, supporting everyday purchases and critical business expenses alike.
The legal advisory for Rain during this financing round was provided by Wachtell, Lipton, Rosen & Katz.
Rain continues to position itself at the forefront of the evolving digital payments landscape, where the emphasis is on making money transfer instantaneous and compliant on a global scale. For more information on Rain and its innovative solutions, visit their official website.
