Rain, a US stablecoin infrastructure provider and a principal member of the Visa payments network, has secured major funding to expand its global presence.
The platform raised $250 million in a Series C funding round led by the global investment firm Iconiq, according to an announcement on Friday.
The round values Rain at $1.95 billion, bringing the company’s total funding to $338 million, following a $58 million Series B round in August 2025 and another $24.5 million raise in March last year.
The latest funding featured several existing investors, including the venture arm of Michael Novogratz-founded Galaxy Digital, Sapphire Ventures, Dragonfly, Lightspeed, Norwest and Endeavor Catalyst.
Rain’s active card base jumped 30x in 2025
The new round follows notable growth at Rain last year, with its active card base increasing 30-fold and annualized payment volume by 38 times, co-founder and CEO Farooq Malik said in the announcement.
“Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work,” he added.
Additional investors in the funding included Bessemer Venture Partners and FirstMark, the announcement noted.
Rain targets expansion across the Americas, Europe, Asia and Africa
Headquartered in New York, Rain offers an end-to-end payments platform allowing companies to work with a single partner to launch compliant stablecoin cards that work anywhere Visa is accepted.
The platform supports major stablecoins, including USDt (USDT) and USDC (USDC), alongside a variety of blockchain networks, including Ethereum, Solana, Tron, Stellar and others.
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Rain plans to use the raised capital to expand its presence in key markets across North America, South America, as well as Europe, Asia and Africa.
The funding will also enable Rain to further scale its stablecoin payments platform, including strategic acquisitions.
“This funding lets us bring that infrastructure to new markets and help additional enterprises go live and scale quickly everywhere,” Malik said.
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