Rain Secures $250M Series C at $1.95B Valuation to Scale Stablecoin Payment Infrastructure
Rain, a New York-based stablecoin payment infrastructure provider, raised $250 million in a Series C round led by ICONIQ, catapulting its valuation to $1.95 billion. The funding marks a 17x surge since March 2023 and follows a $58 million Series B five months prior. Sapphire Ventures, Dragonfly, and Galaxy Ventures joined the round, bringing total funding to $338 million.
The company will deploy capital to expand its enterprise stablecoin card programs, licensing, and payment rails. Rain’s platform converts fiat to stablecoins, issues Visa-network cards, and enables ATM withdrawals across 150 countries—bridging blockchain liquidity with traditional finance.
Since its 2021 launch, Rain has positioned itself as a critical intermediary for businesses transacting in tokenized dollars. The latest funding underscores institutional confidence in stablecoin utility for cross-border payments and payroll solutions.
