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3w ago

Rain Raises $250 Million in Series C at $1.95 Billion Valuation to Scale Enterprise Stablecoin Payments

The funding positions Rain to extend its Visa‑integrated, compliant platform into licensed markets worldwide.

Representations of cryptocurrencies are seen in this illustration taken November 10, 2022. REUTERS/Dado Ruvic/Illustration
VC, venture capital
Rain raises $250m to scale its payments capabilities globally
Visa linked stablecoin platform rain raises $250m at $1.95b valuation

Overview

  • ICONIQ led the round with participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst.
  • Rain reports a 30x increase in active cards and a 38x jump in annualized payment volume over the past year.
  • The platform facilitates more than $3 billion in annualized transactions for over 200 partners, including Western Union, Nuvei, and KAST.
  • The company plans to expand across North America, South America, Europe, Asia, and Africa, deepen its full‑stack payments capabilities, and pursue strategic acquisitions.
  • The raise follows a Series B four months ago and a Series A 10 months ago, with Rain’s valuation up more than 17x in that period.