Rain, a stablecoin-focused payments infrastructure platform based in the US, has raised $250 million in a Series C funding round led by ICONIQ, bringing its valuation to $1.95 billion.
The round also drew participation from Bessemer Venture Partners, Galaxy Ventures, Endeavor Catalyst, FirstMark, Sapphire Ventures, Dragonfly, Lightspeed, and Norwest.
The Series C round brings Rain’s total funding to date to over $338 million since its inception in 2021. It follows a $58 million Series B secured just four months ago, and a $24.5 million Series A secured ten months prior.
Headquartered in New York, Rain’s platform currently supports over 200 companies, including Western Union, Nuvei, and KAST, enabling them to issue stablecoin payment cards that function wherever Visa is accepted. These cards offer features such as fiat-to-stablecoin conversion, rewards, and payouts, with the company claiming to facilitate more than $3 billion in annualised transactions.
The newly raised funds will be used to expand Rain’s presence in markets across Europe, Asia, North America, South America, and Africa. Additionally, the firm says it plans to invest in “new products that make stablecoin payments feel like any other transaction”, according to a company LinkedIn post.
Rain also intends to pursue further strategic acquisitions, building on its recent purchases of Uptop, a New York-based card-linked rewards platform, and Fern, a money movement fintech, both acquired in late 2025.
Source: https://www.fintechfutures.com/venture-capital-funding/rain-hits-1-95bn-valuation-with-250m-series-c
