Rain Secures $250 Million to Expand Global Payments with Stablecoin Solutions

Rain's Major Funding Boost

In a significant move to enhance its payment infrastructure, Rain has announced that it has secured $250 million in a Series C funding round, helmed by ICONIQ. This influx of capital elevates the company’s total funding to over $338 million and values it at a noteworthy $1.95 billion, reflecting a staggering 17-fold increase in valuation in just ten months.

As businesses globally start to adopt stablecoins, they are shifting from speculative assets to essential tools for payments. Rain’s innovative technology aims to simplify this transition, enabling enterprises to utilize stablecoin-powered payments while retaining the convenience of traditional payment experiences.

Farooq Malik, the CEO and co-founder of Rain, expressed enthusiasm about the potential of stablecoins, stating, "Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work." Over the past year, Rain has seen a 30-fold increase in its active card base and a 38-fold rise in annualized payment volume, though Malik notes that they are still in the early stages of growth.

Rain’s platform allows businesses to launch compliant cards accepted everywhere Visa operates, enabling a seamless integration of stablecoin transactions. With more than $3 billion in annualized transactions funneled through its platform, Rain serves over 200 partners including Western Union and Nuvei. Their cards empower everyday consumer purchases as well as critical business expenditures.

Kamran Zaki, a partner at ICONIQ, expressed confidence in Rain’s capabilities, stating, "We believe we're witnessing a shift from legacy payment networks to programmable digital-asset infrastructure." The investment reflects an understanding that enterprises are gradually moving away from outdated payment models and looking for modern solutions.

The latest funding will facilitate Rain's expansion into key licensed markets across North America, South America, Europe, Asia, and Africa. The goal is to enable partners to offer compliant payment solutions across the globe easily. Furthermore, the investment will help Rain enhance its comprehensive stablecoin payments platform and potentially acquire strategic assets to stay ahead of market trends.

With the backing from leading investment firms, Rain plans to continue its trajectory by not only expanding its reach but also by innovating new products that integrate seamlessly into existing financial ecosystems. The aim is for stablecoin-powered payments to become as invisible and straightforward as traditional transactions—essentially, changing the way businesses and consumers interact with money.

Rain is built upon a robust technological foundation, and as a Visa Principal Member, it is uniquely positioned to capitalize on the growing demand for stablecoin solutions. As the financial landscape shifts towards digital assets, Rain’s vision amplifies the potential for global enterprises to adapt and thrive within this evolving space.

About Rain

Rain is a pioneering global platform tailored for stablecoin payments, specifically designed for enterprises, neobanks, and developers. By enabling instant transfer, storage, and utilization of stablecoins through payment cards, rewards, and digital wallets, Rain positions itself at the forefront of the digital payment revolution.

As more organizations seek efficient and compliant ways to transact, Rain continues to develop a trustworthy infrastructure that supports the next generation of financial transactions. Their commitment to making money move freely and efficiently aligns with the pressing needs of businesses today.

For further information about Rain, please visit Rain.xyz.