Rain Secures $250M Series C Funding Led by ICONIQ, Valuing the Company at $1.95B
Summary:
Rain, a leading enterprise-grade infrastructure for stablecoin-powered payments, has announced a $250 million Series C funding round led by ICONIQ, valuing the company at $1.95 billion. This brings Rain’s total funding to over $338 million, marking a 17x increase in valuation within just 10 months. The investment will enable Rain to expand its global footprint, enhance its platform capabilities, and develop new products to redefine global payments. Stablecoins are increasingly becoming a critical value-transfer rail, and Rain’s technology bridges the gap between traditional payment systems and tokenized money, making it accessible and compliant for businesses and consumers worldwide.
What This Means for You:
- Enhanced Global Payments: Businesses can leverage Rain’s infrastructure to integrate stablecoin-powered payments seamlessly, ensuring compliance and scalability across markets.
- Consumer Benefits: Users will experience faster, more secure transactions with stablecoins, supported by Rain’s Visa-accepted cards and rewards programs.
- Future-Proof Investments: Rain’s focus on stablecoin infrastructure positions it as a key player in the transition from legacy systems to digital-asset platforms—worth monitoring for investors.
- Warning: As adoption grows, businesses must stay ahead of regulatory changes to ensure compliance with evolving digital payment standards.
Original Post:
Led by ICONIQ, the round brings Rain’s total funding to over $338M and values the company at $1.95B — up more than 17x in just 10 months
The new funding enables Rain to scale its global, compliant footprint, deepen platform capabilities, and invest in new products that redefine how payments work worldwide
NEW YORK, Jan. 9, 2026 /PRNewswire/ — Rain, the enterprise-grade infrastructure for stablecoin-powered payments, today announced a $250 million Series C funding round led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst. The round values Rain at $1.95 billion, brings the company’s total funding to over $338 million, and comes just four months after its Series B and 10 months after its Series A.
Stablecoins have rapidly evolved from a speculative corner of crypto markets into one of the largest value-transfer rails in the world. The next phase of adoption is about making tokenized money the default way that businesses move funds and consumers get paid, save, and spend. Crossing that chasm requires infrastructure that lets enterprises shift to onchain payment rails while preserving the familiar experiences their users already trust. Rain’s technology is built to do exactly that.
“Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work,” said Farooq Malik, CEO & Co-founder of Rain. “In the last year, our active card base has increased 30x and our annualized payment volume has increased 38x, but we’re still in the early innings. This funding lets us bring that infrastructure to new markets and help additional enterprises go live and scale quickly everywhere.”
Rain’s end-to-end payments platform allows companies to work with a single partner to launch compliant stablecoin cards that work everywhere Visa is accepted, offer rewards, convert fiat into stablecoins, power secure wallets, and facilitate payouts. Today, Rain’s technology facilitates more than $3B in annualized transactions for over 200 partners, including Western Union, Nuvei, and KAST. Programs built on Rain can reach over 2.5 billion people and power everything from everyday consumer purchases like a morning coffee or airline tickets, to critical business expenses such as cloud services and digital advertising.
“We believe we’re witnessing a shift from legacy payment networks to programmable digital-asset infrastructure, and there is a brief window to help define the default platform enterprises will rely on,” said Kamran Zaki, Partner at ICONIQ. “In our view, Rain has a rare combination of full-stack technology, regulatory readiness, and real-world scale. Their focus on making tokenized money mainstream, rather than a niche financial experiment, may resonate and align with what large enterprises are looking for as they move from exploration to production.”
Rain will use the Series C capital to expand its presence in key licensed markets across North America, South America, Europe, Asia, and Africa, so partners can seamlessly launch compliant solutions around the world. The funding will also enable Rain to deepen its full-stack stablecoin payments platform, including through strategic acquisitions, and to invest ahead of the curve in new products that make stablecoin-powered payments feel invisible to businesses and consumers.
Wachtell, Lipton, Rosen & Katz served as legal advisor to Rain on its Series C financing.
About Rain: Rain is the global stablecoin payments platform for enterprises, neobanks, platforms, and developers. Its technology allows partners to move, store, and use stablecoins instantly and compliantly through global payment cards, rewards, on/offramps, wallets, and cross-border rails. As a Visa Principal Member, Rain issues cards that work anywhere Visa is accepted, powering millions of purchases in over 150 countries. Built natively for stablecoins and trusted by more than 200 organizations worldwide, Rain delivers secure, scalable infrastructure that makes money move freely and instantly around the world. Learn more at https://www.rain.xyz/.
About ICONIQ: ICONIQ is a global investment firm catalyzing opportunity through extraordinary community. Our venture and growth investment platform partners with visionaries defining the future of their industries to achieve uncommon outcomes. Drawing on the insights and connectivity of our extraordinary community, we support our portfolio companies’ success at every inflection point, from inception to IPO and beyond. Our robust portfolio includes Adyen, Airbnb, Alibaba, Alteryx, Airtable, Anthropic, Automattic, BambooHR, Braze, Canva, Chime, Coupa, Databricks, Datadog, DeepL, ElevenLabs, Figma, Gitlab, Glean, Groww, Netskope, Procore, ServiceTitan, Sierra, Snowflake, Writer, Zoom and 1Password, among others. For more information visit https://www.iconiqcapital.com/growth.
Media Contact:
Lucas Piazza
Marketing Lead, Rain
Extra Information:
For further insights into stablecoin adoption and its impact on global payments, check out these resources: CoinDesk on Stablecoins and Forbes’ Guide to Stablecoins. These articles provide context on how stablecoins are reshaping financial systems and why Rain’s infrastructure is pivotal in this transition.
People Also Ask About:
- What are stablecoins? Stablecoins are digital currencies pegged to stable assets like the US dollar, designed to minimize volatility.
- How does Rain’s platform work? Rain provides an end-to-end payments infrastructure enabling businesses to integrate stablecoin-powered payments compliantly and globally.
- Why is Rain’s funding significant? The $250M Series C round highlights the growing demand for stablecoin infrastructure and positions Rain as a leader in this space.
- Can consumers use Rain’s cards? Yes, Rain’s Visa-accepted cards allow consumers to make purchases globally using stablecoins.
Expert Opinion:
Rain’s Series C funding underscores the accelerating shift from traditional payment systems to digital-asset infrastructures. As stablecoins gain mainstream traction, companies like Rain are uniquely positioned to bridge the gap between innovation and compliance, paving the way for widespread adoption of tokenized money.
Key Terms:
- Stablecoin payments infrastructure
- Tokenized money adoption
- Global payment rails
- Compliant stablecoin cards
- Digital asset platforms
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