Rain Raises $250M Series C, Hits $1.95B Valuation

Stablecoin payments infrastructure provider Rain has secured $250 million in Series C funding, pushing its valuation to $1.95 billion. ICONIQ led the round, with participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, and Galaxy Ventures.

Onchain rails have proven their value.
Rain is making them usable by everyone, and keeping them invisible in the process.

Today, we’re announcing our $250M Series C at a $1.95B valuation to keep building.

🧵 pic.twitter.com/MUniRpHpul

— Rain (@raincards) January 9, 2026

The funding comes just four months after Rain’s Series B and brings total capital raised to over $338 million. FirstMark, Lightspeed, Norwest, and Endeavor Catalyst also joined the round.

Rain’s platform enables enterprises to launch compliant stablecoin-powered cards accepted everywhere Visa operates. The company now facilitates more than $3 billion in annualized transactions for over 200 partners worldwide.

Major clients include Western Union, Nuvei, and KAST. Programs built on Rain’s infrastructure can reach over 2.5 billion people globally.

Rain’s Explosive Growth Fuels Investor Confidence

Rain has experienced remarkable traction over the past year. Its active card base increased 30x while annualized payment volume surged 38x, according to CEO and co-founder Farooq Malik.

Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work.

Malik said.

The company’s end-to-end platform allows enterprises to offer rewards, convert fiat into stablecoins, power secure wallets, and facilitate payouts. All functions operate through a single partner integration.

Rain’s solutions power everyday consumer transactions, from morning coffee purchases to airline tickets. Business expenses like cloud services and digital advertising also run through its rails.

We believe we’re witnessing a shift from legacy payment networks to programmable digital-asset infrastructure

said Kamran Zaki, Partner at ICONIQ

Zaki noted Rain possesses a rare combination of full-stack technology, regulatory readiness, and real-world scale. He emphasized the company’s focus on making tokenized money mainstream rather than a niche experiment.

Global Expansion and Strategic Acquisitions Ahead

Rain plans to deploy the Series C capital across multiple strategic initiatives. The company will expand its presence in licensed markets throughout North America, South America, Europe, Asia, and Africa.

This expansion aims to enable partners to launch compliant solutions seamlessly around the world. Rain also intends to deepen its full-stack stablecoin payments platform through strategic acquisitions.

Investment in new products that make stablecoin-powered payments invisible to businesses and consumers represents another priority. The goal is preserving familiar user experiences while shifting to onchain payment rails.

Meanwhile, the broader stablecoin infrastructure sector continues attracting significant venture capital. Earlier in 2025, crypto payment platform RedotPay raised $40 million to expand its offerings.

Mesh, which develops web3 payment systems streamlining crypto transactions and merchant settlements, secured $82 million this year. These raises underscore growing institutional interest in crypto payment infrastructure.

In March 2025, Rain itself raised $24.5 million in funding led by Norwest Venture Partners. That round included participation from Galaxy and Coinbase Ventures.

Excited to announce $24.5M in new funding for Rain led by @NorwestVP with participation from new investors @Galaxyhq, @CompoSecure, Goldcrest, Vinyl, @BDMIFund, @LatitudeCapital, Thayer and @_hardyaka, and existing investors @lightspeedvp, @cbventures, and @CanonicalCrypto.… pic.twitter.com/q7QjkKAaXa

— Rain (@raincards) March 24, 2025

The company reported 15x revenue growth in just 12 months at that time. Payments were already processing in over 100 countries before the Series C announcement.

Stablecoin transfer volumes surpassed the combined transaction volume of Visa and Mastercard last year. This milestone underscored the growing relevance of tokenized dollar infrastructure in global commerce.

Rain’s rapid funding trajectory from Series A through Series C in just 10 months signals strong investor conviction. The company now positions itself as a potential default platform for enterprise stablecoin adoption.