Rain Hits $1.95B Valuation After $250M Series C Funding Surge

Rain raised $250 million in Series C funding, reaching a $1.95 billion valuation. The company will use the funds to expand its stablecoin payment services globally and develop new products.

Rain, a stablecoin payments infrastructure provider and Visa principal member, has raised $250 million in a Series C funding round led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst. This round values Rain at $1.95 billion, marking a more than 17-fold increase in valuation over the past 10 months. Rain’s platform processes over $3 billion in annualized transaction volume for more than 200 business partners, including Western Union and Nuvei, and supports stablecoin-linked Visa cards, wallets, fiat-to-stablecoin conversion, and instant payouts. The new capital will be used to expand Rain’s stablecoin-based payment services across North America, South America, Europe, Asia, and Africa, as well as to support strategic acquisitions and new product development. Rain’s rapid growth in active card base and payment volume highlights the increasing adoption of stablecoins in global finance and the maturation of blockchain-based payment infrastructure.