Led by ICONIQ, the round brings Rain’s total funding to over $338 million and values the company at $1.95 billion, up more than 17x in just 10 months.
The new funding allows Rain to scale its global fulfillment footprint, deepen platform capabilities, and invest in new products that redefine how payments work around the world.
NEW YORK, January 9, 2026 /PRNewswire/ — Rainenterprise-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 more than $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 the crypto markets to become one of the world’s largest avenues for transferring value. The next phase of adoption is to make tokenized money the default way businesses move funds and consumers receive payments, save and spend. Crossing that chasm requires infrastructure that allows businesses to move to on-chain payment paths while preserving the familiar experiences their users already rely on. Rain’s technology is designed to do exactly that.
“Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users around the world requires cards and apps that just work,” said Farooq Malik, CEO and co-founder of Rain. “In the last year, our active card base has grown 30x and our annualized payment volume has grown 38x, but we’re still in the early stages. This funding allows us to bring that infrastructure to new markets and help more businesses get up and running and scale quickly everywhere.”
Rain’s end-to-end payments platform allows businesses to work with a single partner to launch compatible stablecoin cards that work everywhere Visa is accepted, offer rewards, convert fiat currencies to stablecoins, power secure wallets, and facilitate payments. Today, Rain’s technology facilitates more than $3 billion in annualized transactions for more than 200 partners, including Western Union, Nuvei and KAST. Programs built on Rain can reach more than 2.5 billion people and power everything from everyday consumer purchases, like a morning coffee or airline tickets, to critical business expenses, like cloud services and digital advertising.
“We believe we are seeing a shift from legacy payment networks to a programmable digital asset infrastructure, and there is a short window to help define the default platform that businesses will rely on,” said Kamran Zaki, partner at ICONIQ. “In our view, Rain has a rare combination of complete technology, regulatory readiness, and real-world scale. Its focus on making tokenized money mainstream, rather than a niche financial experiment, may resonate and align with what large companies 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 in North America, South America, Europe, Asia and Africa, so that partners can seamlessly launch compatible solutions around the world. The funding will also allow Rain to deepen its entire stablecoin payments platform, including through strategic acquisitions, and invest at the forefront of new products that make stablecoin-powered payments appear invisible to businesses and consumers.
Wachtell, Lipton, Rosen & Katz acted as legal advisors to Rain in its Series C financing.
About rain: Rain is the global stablecoin payments platform for enterprises, neobanks, platforms and developers. Its technology enables partners to move, store and use stablecoins instantly and compliantly across global payment cards, rewards, on- and off-ramps, wallets and cross-border pathways. As a major Visa member, Rain issues cards that work anywhere Visa is accepted, enabling millions of purchases in more than 150 countries. Built natively for stablecoins and trusted by over 200 organizations worldwide, Rain offers a secure, scalable infrastructure that makes money move freely and instantly around the world. Get more information at https://www.rain.xyz/.
About ICONIQ: ICONIQ is a global investment firm that catalyzes opportunities through an extraordinary community. Our venture and growth investment platform partners with visionaries defining the future of their industries to achieve uncommon results. Drawing on the insights and connectivity of our extraordinary community, we support the success of our portfolio companies at every inflection point, from startup to IPO and beyond. Our strong 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/crecimiento.
Media Contact:
Lucas Plaza
Marketing Leader, Rain
[email protected]
