Rain, an enterprise-grade infrastructure for stablecoin-powered payments, 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.
Rain has secured $88.5 million in funding, just five months after its Series A round. This positions the company as a leading integrated solution for global fintechs, banks, and marketplaces, focusing on compliant, stablecoin-powered cards, wallets, and payment programs.
Enterprise interest in stablecoins is rising due to the GENIUS Act in the U.S. and the MiCA framework in Europe, which provide clear regulatory guidance. Rain’s vertically integrated platform enables partners to embed stablecoins into their operations—covering money-in, storage, spending, and money-out—via a single API, reaching over 1.5 billion potential users.
Rain has made stablecoins usable anywhere Visa is accepted, processing millions of transactions across more than 150 countries. Since January 2025, transaction volume has surged tenfold, with partners such as Nuvei, Avalanche, Dakota, and Nomad utilizing Rain’s infrastructure to meet various payment needs.
As a Visa Principal Member, Rain settles 100% of card payment volume directly in stablecoins and adheres to enterprise compliance standards. The new funding will help expand Rain’s services and strengthen its infrastructure while supporting hiring efforts across engineering, commercial, and compliance teams. It will also facilitate the scaling of existing partner programs and entry into new markets embracing stablecoin payment workflows.
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.”
Jai Das, President and Partner at Sapphire Ventures, as well as Rain’s newest Board Director
