Rain, a stablecoin infrastructure platform founded in 2021, has raised $58 million in a Series B funding round led by Sapphire Ventures. The raise comes just five months after the company raised $24.5 million in a Series A funding round, led by Norwest Venture Partners, bringing total funding lines to $88.5 million.
Norwest returned to support this latest investment into Rain, alongside Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed Venture Partners, and cross-border crypto venture fund Dragonfly.
A company statement explains that the funds have been earmarked to “expand Rain’s platform and services to give global institutions the most flexible, modular, and compliant stablecoin infrastructure available”.
This includes plans to execute a hiring spree across engineering, commercial, and compliance teams, with “expansion underway into Europe, the Middle East, Africa, and Asia-Pacific”, Rain confirms.
The platform currently offers a single integration point for fintechs, banks, and marketplaces to embed stablecoins into products and operations, covering money-in, storage, spending, and money-out functions across cards, wallets and payment programmes.
A member of Visa’s pilot programme for stablecoin settlement since April this year, Rain states that its Series B funding round coincides with a 10-fold growth in transaction volume since January 2025, with its platform now used by more than 100 organisations worldwide, including Nuvei, Dakota, and MPCVault.
“Stablecoins are shifting to the backbone of global commerce,” comments Farooq Malik, CEO and co-founder of Rain. “In its earliest form, money moved instantly. We’ve spent centuries slowing it down. Rain is bringing that simplicity back to billions of people, but now it works across any border, any platform, and any currency.”
As part of the Series A funding round, Jai Das, president and partner at Sapphire Ventures, has joined the company’s board of directors.
Source: https://www.fintechfutures.com/
