Rain raises $250 million to scale stablecoin payment infrastructure

Rain announced a $250 million Series C on 9 January, led by ICONIQ with Sapphire Ventures, Dragonfly, Bessemer Venture Partners and others participating. It said the round valued the company at $1.95 billion and brought total funding above $338 million. Rain sells infrastructure for companies launching stablecoin-linked cards, wallets, payouts and fiat conversion.

Rain said its platform supported over $3 billion in annualised transactions for more than 200 partners, including Western Union, Nuvei and KAST. These are company-reported metrics. It plans to expand in licensed markets across the Americas, Europe, Asia and Africa. Reported partner reach does not mean universal stablecoin availability.