Rain, a leading provider of enterprise-grade infrastructure for stablecoin-powered payments, has raised $250 million in a Series C funding round, propelling its valuation to $1.95 billion. The investment, led by ICONIQ and joined by a roster of prominent venture firms, marks a significant milestone for the company just 10 months after its Series A, representing a more than 17-fold increase in valuation.

The round brings Rain's total funding to over $338 million and includes participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst. This comes on the heels of Rain's Series B funding just four months ago, underscoring the rapid growth in the stablecoin sector.

"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," said Farooq Malik, CEO and co-founder of Rain. "This funding lets us bring that infrastructure to new markets and help additional enterprises go live and scale quickly everywhere."

Stablecoins, once confined to niche crypto markets, are increasingly seen as a mainstream tool for global value transfer. Rain's platform enables businesses to integrate tokenized money into their operations without disrupting user experiences. The company's technology supports compliant stablecoin cards accepted wherever Visa operates, along with features like rewards, fiat-to-stablecoin conversions, secure wallets, and payouts.

Read More:
https://www.rain.xyz/resources/rain-raises-250m-series-c-to-scale-stablecoin-powered-payments-infrastructure-for-global-enterprises

Watch Stabledash Podcast with Rain Co-Founder Farooq Malik:
https://stabledash.com/media/stableminded/S6-E1-building-stablecoin-cards-that-work-at-150m-merchants-visa--rains-strategy