Rain, a stablecoin payment infrastructure developer, has successfully raised $250 million in a Series C funding round, achieving a valuation of $1.95 billion. The funding round was spearheaded by ICONIQ and saw participation from notable investors including Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst.
“Onchain rails have proven their value. Rain is making them usable by everyone…” tweeted Rain, announcing the funding.
The total capital raised during the round amounted to $338 million. Rain is known for its Visa card issuance services based on stablecoins, facilitating payments, and allowing seamless fiat-to-digital currency conversion.
In the past year, Rain handled transactions exceeding $3 billion for over 200 partners, including industry giants like Western Union and Nuvei. Rain's co-founder and CEO Farouk Malik emphasized the growing significance of stablecoins, stating, “Stablecoins are quickly becoming the primary means of transferring money in the 21st century.” He highlighted a remarkable 30-fold increase in the number of active cards and a 38-fold rise in transaction volumes in 2025.
