Rain, a company building enterprise-grade infrastructure for stablecoin payments, just landed a major funding milestone. The firm has closed a $250 million Series C round, pushing its valuation to $1.95 billion and signaling how fast the stablecoin payments sector is heating up.
The new round was led by ICONIQ, with participation from a lineup of well-known investors including Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst. With this raise, Rain’s total funding now exceeds $338 million.
The timing is notable. This Series C arrived only four months after Rain’s Series B and 10 months after its Series A. That rapid pace highlights growing investor confidence in stablecoin-based payment rails as businesses look for faster, cheaper, and more global ways to move money.
Instead of focusing only on crypto-native users, Rain is building tools designed for mainstream enterprises. Its platform helps companies launch compliant stablecoin cards and wallets, handle payouts, convert fiat into stablecoins, and manage everyday transactions without forcing users to learn new financial systems. Today, Rain processes more than $3 billion in annualized transactions and works with over 200 partners, including major names such as Western Union, Nuvei, and KAST. Through these relationships, its infrastructure reaches over 2.5 billion potential users worldwide.
Farooq Malik, Rain’s CEO, said the fresh capital will go toward expanding across North America, South America, Europe, Asia, and Africa. The goal is to bring Rain’s payments stack into more markets and help enterprises scale faster using tokenized money instead of legacy rails.
ICONIQ Partner Kamran Zaki added that Rain’s full-stack technology and regulatory preparation give it a strong position to become the “default enterprise platform” for stablecoin and tokenized money payments. In an industry where regulation and compliance are often barriers, Rain is pitching itself as the ready-to-deploy solution for large businesses.
Beyond geographic expansion, Rain plans to use the funds to enhance its payments platform, invest in new product development, and pursue strategic acquisitions. The vision is to make stablecoin payments feel seamless for both businesses and consumers, blending crypto technology with the familiar experience of traditional payment methods.
Legal advisory for the round was handled by Wachtell, Lipton, Rosen & Katz.
With strong investor backing, major enterprise partners, and rapid funding momentum, Rain is positioning itself at the center of the emerging stablecoin payments economy—and betting that tokenized money will soon be part of everyday financial infrastructure.
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