TL;DR
- Rain closed a $250 million Series C round that lifted its valuation to $1.95 billion. The company has raised more than $338 million in total funding to date.
- Rain’s platform processes more than $3 billion annually, operates in over 150 countries, and enables Visa card issuance and corporate payments using stablecoins.
- The Series C capital will fund expansion across five continents, along with infrastructure development and the rollout of new products.
Rain closed a $250 million Series C funding round. The deal raised the company’s valuation to $1.95 billion and brought its total cumulative funding to more than $338 million. ICONIQ led the round, with participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst.
The company develops enterprise infrastructure for stablecoin-based payments. Its platform allows businesses to issue Visa-compatible cards, convert fiat currency into stablecoins, operate secure wallets, and process payments for consumer spending and corporate expenses. The cards operate in more than 150 countries and deliver a user experience aligned with traditional payment systems.
Rain’s Products Reach More Than 2.5 Billion People
Rain currently processes more than $3 billion in annual transaction volume and works with over 200 partners, including Western Union, Nuvei, and KAST. Programs built on its infrastructure can reach more than 2.5 billion people. Over the past year, the active card base grew 30x and annualized payment volume increased 38x, according to company operating data.
The Series C capital will be allocated to international expansion across five continents. The roadmap includes North America, South America, Europe, Asia, and Africa, with a focus on securing local regulatory licenses. Rain will also move forward with integrations into existing financial systems, such as the ACH network in the United States and the SEPA framework in Europe, to extend the reach of stablecoin-based payments.
New Infrastructure and Strategic Acquisitions
The platform operates as a single provider for businesses seeking to implement on-chain payments without altering end-user workflows. Its features include rewards programs, payments at physical and digital merchants, international transfers, and the settlement of corporate expenses such as cloud services and digital advertising.
In addition to geographic expansion, Rain will use the funds to deepen platform capabilities and introduce new products. The company will also evaluate strategic acquisitions aimed at expanding its infrastructure and accelerating adoption by enterprises worldwide.
The round closed just four months after the Series B and ten months after the Series A. The funding sequence reflects a rapid capitalization process and supports the rollout of a global stablecoin-based payments network designed to handle large-scale operations
