Digital payments infrastructure company Rain has announced a $58 million Series B funding round led by Sapphire Ventures, with participation from Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest. This latest round brings Rain’s total funding to $88.5 million. The funding comes just five months after its Series A, underscoring the company’s rapid ascent and growing importance in the global financial ecosystem.
Rain is not just another fintech startup—it’s building the backbone for how stablecoins can be used in everyday commerce. As regulatory clarity around digital assets continues to improve, particularly with the passage of the GENIUS Act in the United States and the MiCA framework in the European Union, enterprise interest in stablecoins has surged. These developments have created a clear path for adoption, and Rain is positioned at the center of this transformation.
The company’s platform is designed to be a one-stop solution for fintechs, banks, and marketplaces looking to integrate stablecoin-powered financial products. With a single API, Rain enables partners to embed stablecoins into their operations—from money-in and storage to spending and money-out. This means institutions can launch compliant card programs, digital wallets, and payment solutions that reach over 1.5 billion people globally. Expansion efforts are already underway in Europe, the Middle East, Africa, and Asia-Pacific.
One of Rain’s most compelling innovations is its ability to make stablecoins instantly usable anywhere Visa is accepted. Through its physical and virtual card programs, Rain has processed millions of transactions across more than 150 countries. What sets the company apart is its deep integration with Visa: Rain is a Visa Principal Member and settles 100 percent of its card payment volume directly in stablecoins on the Visa network. This is not a workaround or a retrofit of legacy systems—Rain’s infrastructure is built natively for stablecoins, designed from the ground up to meet the needs of modern digital finance.
Since the beginning of 2025, Rain has seen its transaction volume grow tenfold. Its platform is already being used by a diverse set of partners, including Nuvei, Avalanche, Dakota, and Nomad, for use cases ranging from merchant payouts and consumer purchases to B2B spending and cross-border payroll. These organizations are leveraging Rain’s infrastructure to move money faster, more securely, and with greater transparency than traditional payment systems allow.
Rain’s commitment to compliance is another cornerstone of its success. The platform meets rigorous enterprise standards, including PCI DSS and SOC 2, and incorporates audited smart contracts to ensure security and accountability. This level of trust is essential for institutions navigating the complex regulatory environment surrounding digital assets.
How the funding will be used: With the new funding, Rain plans to expand its platform and services even further. The company is investing heavily in engineering, commercial, and compliance teams to support its growing customer base and to continue innovating in the stablecoin space. It’s also focused on helping existing partners scale their programs and entering new markets where demand for stablecoin-based payment workflows is accelerating.
KEY QUOTES:
“Stablecoins are shifting to the backbone of global commerce. 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.”
Farooq Malik, CEO and Co-founder of Rain
“Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent. Rain is working to fix that by connecting stablecoins to Visa’s global network, turning them into money you can actually use for everyday commerce. We’re proud to partner with Farooq, Charles, and the Rain team as they redefine the future of payments,” said
Jai Das, President and Partner at Sapphire Ventures, as well as Rain’s newest Board Director
