Rain said it raised $250 million in a Series C round that valued the company at $1.95 billion. The round was led by ICONIQ Capital and drew participation from a broad venture consortium, positioning Rain to scale its stablecoin payments infrastructure for global enterprises.
The funding will bankroll geographic expansion, product development and targeted acquisitions as Rain moves to integrate stablecoin rails into card and wallet services under existing payments partnerships.
The Series C was reported by major outlets including Reuters and Bloomberg and increased Rain’s cumulative capital raised to more than $338 million. ICONIQ Capital led the round; other named participants included Sapphire Ventures, Dragonfly and Bessemer Venture Partners.
Rain said it now processes more than $3 billion in annualized transactions for over 200 partners and operates as a Visa Principal Member to offer card and wallet integrations.
Product focus, scale and regulatory posture
Rain described the proceeds as earmarked to expand into licensed markets across North America, South America, Europe, Asia and Africa and to deepen its full-stack stablecoin payments platform. “Rain will use the Series C capital to expand its presence in key licensed markets across North America South America Europe Asia and Africa,” the company said in its announcement.
Operational signals cited by the company show rapid adoption: a roughly 30-fold increase in active card users and a 38-fold rise in annualized payment volume over the past year.
Investors and corporate partners will be watching Rain’s rollout across licensed jurisdictions and its product roadmap — including any strategic acquisitions — as the practical test of whether stablecoin-based payment rails can scale while meeting compliance and licensing demands in diverse regulatory regimes.
