Led by ICONIQ, the round brings Rain’s total funding to over $338 million and values the company at $1.95 billion, a more than 17-fold increase in just 10 months.
The new funding allows Rain to expand its global and compliant footprint, deepen its platform capabilities, and invest in new products that redefine how payments work around the world.
NEW YORK, January 9, 2026 /PRNewswire/ — Rainthe enterprise-grade infrastructure for payments powered by stablecoins, 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 over $338 million and comes just four months after its Series B and 10 months after its Series A.
Stablecoins have quickly grown from a speculative corner of the crypto markets to one of the largest value transfer rails in the world. The next phase of adoption is making tokenized money the default way businesses move funds and consumers get paid, save and spend. Crossing this chasm requires infrastructure that allows businesses to move to blockchain payment rails while preserving the familiar experiences their users already trust. Rain’s technology is designed to do just 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 work,” said Farooq Malik, CEO and co-founder of Rain. “Over the past year, our active card base has grown 30x and our annualized payment volume has increased 38x, but we’re only just getting started. This funding allows us to bring this infrastructure to new markets and help new businesses start and scale quickly everywhere.
Rain’s end-to-end payments platform allows businesses to work with a single partner to launch compliant stablecoin cards that work anywhere 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 manage everything from everyday consumer purchases like morning coffee or airline tickets to critical business expenses like cloud services and digital advertising.
“We believe we are seeing a shift from traditional payment networks to programmable digital asset infrastructure, and there is a brief window to help define the default platform that businesses will rely on,” said Kamran Zaki, partner at ICONIQ. “In our view, Rain offers a rare combination of comprehensive technology, regulatory readiness and real-world scale. The focus on making token money mainstream, rather than a niche financial experience, 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 partners can seamlessly launch compliant solutions worldwide. The funding will also allow Rain to deepen its comprehensive stablecoin payments platform, including through strategic acquisitions, and invest ahead of time in new products that make stablecoin-powered payments invisible to businesses and consumers.
Wachtell, Lipton, Rosen & Katz acted as legal advisor to Rain in connection with its Series C financing.
About rain: Rain is the global stable payments platform for businesses, neobanks, platforms and developers. Its technology enables partners to move, store and use stablecoins instantly and compliantly across global payment cards, rewards, on-ramps, wallets and cross-border rails. As a Visa Prime Member, Rain issues cards that work wherever Visa is accepted, enabling millions of purchases in more than 150 countries. Natively designed for stablecoins and trusted by over 200 organizations worldwide, Rain offers a secure, scalable infrastructure that allows money to flow freely and instantly around the world. Learn more about https://www.rain.xyz/.
About ICONIQ: ICONIQ is a global investment company that catalyzes opportunity through an extraordinary community. Our venture and growth investing platform partners with visionaries who are defining the future of their industries to achieve extraordinary results. Drawing on the knowledge and connectivity of our extraordinary community, we support the success of our portfolio companies at every inflection point, from inception 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/growth.
Media Contact:
Place Lucas
Marketing Manager, Rain
lucas@rain.xyz
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SOURCE Rain
