Rain has secured USD 250 million in a Series C funding round that values the company at USD 1.95 billion, further accelerating its expansion in the stablecoin payments sector.
The round was led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst. The raise brings Rain’s total funding to more than USD 338 million and follows closely after its Series B and Series A rounds, completed within the past year.
The company provides infrastructure that enables enterprises to issue and manage payment products backed by stablecoins while remaining compliant with regulatory requirements. Rain’s platform supports functions such as fiat-to-stablecoin conversion, wallet management, card issuance, rewards programmes and global payouts, allowing businesses to work with a single provider rather than multiple intermediaries. Its cards operate across the Visa network, extending usability to a wide international footprint.
Stablecoins move towards enterprise payment use
According to the official press release, Rain’s technology currently processes over USD 3 billion in annualised transaction volume for more than 200 partners, including Western Union, Nuvei and KAST. According to Rain officials, programmes built on the platform are designed to reach up to 2.5 billion people worldwide and are used for a range of transactions, from consumer purchases to corporate spending on services such as cloud infrastructure and digital advertising.
Company representatives highlighted that the funding will be used to expand Rain’s licenced operations across North America, South America, Europe, Asia and Africa. The aim is to allow partners to launch stablecoin-based payment products in multiple jurisdictions without rebuilding their infrastructure for each market. Rain also plans to invest in product development and potential acquisitions to broaden its full-stack payments capabilities.
ICONIQ representatives noted that large enterprises are increasingly exploring programmable digital assets as an alternative to traditional payment networks. They indicated that platforms combining regulatory compliance with operational scale may be well-positioned as businesses move from experimentation to live deployment.
